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Eton Trading founders, agents face criminal complaint for illicit activities

The Securities and Exchange Commission (SEC) has filed a criminal complaint against Eton Phil Non-Specialized Wholesale Trading for engaging in unauthorized investment solicitation activities.

Key figures involved in the case include Eton Trading’s founder, Princess Samson-Frias and Elton John M. Malabarbas, along with several agents, namely Irish Joy Ramos, Edgar Frias, Stefanie Aubrey (a.k.a. Maricor Mana), Miracle Krizia Palmares, Kirth Chehth G. Mondido, Glyzeah Nina Erpelo, Rodelane Cincollagas, King Guiller Nimer Veniegas, Mikaela Najera, Bryan Almario, Ma. Fatima Wade, and Geri Lei Monique Balecha Yanes.

The SEC’s investigation revealed that Eton Trading solicited investments without without the requisite SEC license, violating both the Securities Regulation Code and the Financial Products and Services Consumer Protection Act (FCPA).

Eton Trading is not registered with the SEC as a corporation and has not initiated any pending applications for the necessary licenses to facilitate investment sales.

According to the Securities Regulation Code, the sale or distribution of securities without a duly filed and approved registration statement from the SEC is strictly prohibited. Offenders may face penalties of up to P5 million, imprisonment of up to 21 years, or both.

Eton Trading allegedly enticed investors with promises of monthly profits ranging from 20% to 50%, with earnings purportedly stemming from wholesale product sales.

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