SEC sues companies for 'unauthorized' investment schemeThe SEC’s Enforcement and Investor Protection Department already filed a criminal complaint against Astral Fuel and Apollo on June 2 for soliciting investments without a license. The regulator noted this was in violation of Republic Act No. MANILA, Philippines — The Securities and Exchange Commission filed a criminal complaint against four companies for soliciting investments. The regulator noted this was in violation of Republic Act No. The SEC noted they received complaint-affidavits that indicated that Astral Fuel and Apollo solicited investments in social media platforms such as Facebook, YouTube, and Google.

Source: Philippine Star June 06, 2023 13:14 UTC