WebClick Tracer

Silverlion CEO Ryan Ladoing charged with money laundering

The Securities and Exchange Commission (SEC) has filed another money laundering case against Silverlion Livestock Trading Corp., led by its chief executive officer Ryan Cagod Ladoing, for its illegal solicitation of investments from the public.

Ladoing was charged with violating Section 4(b) of Republic Act No. 9160, or the Anti-Money Laundering Act (AMLA).

The complaint was filed after Ladoing was found to be in possession of more than P14 million in cash during a consented search by operatives of the Philippine National Police Anti-Cybercrime Group (PNP ACG), together with the SEC Zamboanga Extension Office in 2022.

The search was conducted following investigations by the SEC, which showed that Silverlion was soliciting investments ranging from P5,000 to P100,000, with guaranteed earnings of up to 35 percent within 15 days. The group also offered a special promo involving the car of choice for any investor who locked in P400,000 worth of investment for 60 days.

“The operations of Silverlion were still ongoing at the time of the consented search. Ladoing has no other source of income where the said amount might be sourced. Thus, there is no other conclusion except that the hefty amount of cold cash stored in the room rented by Ladoing are proceeds of the unlawful activity involving violations of the SRC,” the complaint read.

The SEC and AMLC previously filed a complaint against Silverlion and its other officials in October 2023 for the same charges, after it was found to be in possession of around P17.89 million in cash during the execution of a search warrant at Silverlion’s offices in Zamboanga City by PNP-ACG operatives.

While Silverlion is registered as a corporation with the SEC, it has not secured the necessary license to offer investments to the public.

Prior to the filing of the complaints, the SEC revoked Silverlion’s corporate registration and issued a cease and desist order against the company, its officers, directors, and agents.

Separate criminal cases for violations of the Securities Regulation Code are also pending with Branch 12 of the Regional Trial Court of Zamboanga City, as a result of the inquest complaint filed by SEC before the Department of Justice in November 2022.

Milyonaryo | Latest News