00:00The Department of Justice resumes its preliminary probe into the illegal investment charges
00:05lodged by the Securities and Exchange Commission against the Maria Francesca Tan Group of Companies
00:10founded by millennial CEO Mi Katan.
00:13Justice Secretary Boyeng Remulia says he will ensure a fair investigation.
00:18The MFT Group is facing a criminal complaint over an alleged unauthorized investment scheme
00:23promising investors returns of 12 to 18 percent.
00:26The move comes as the Court of Appeals orders a freeze covering 138 bank accounts, four
00:31securities accounts, and four insurance accounts of the MFT Group as petitioned by the Anti-Money
00:36Laundering Council.
00:38The CA also granted the AMLAC's request for a bank inquiry order.
00:42MFT claims the loan transactions are personal loans so no predicate crime exists.
00:47The SEC said the investment scheme did not have proper documentation and registration
00:52and even called it a Ponzi scheme.
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