The Philippine Securities and Exchange Commission secured the convictions of Aura Finance and Investments operator Arvin Briones Licuan and employee Princess Nestelene Ramos for offering unregistered securities and operating without the required intermediary registrations. The convictions followed a joint entrapment operation by the commission’s Laoag Extension Office and the National Bureau of Investigation’s Laoag Division Office. Aura was neither registered as a corporation nor licensed to solicit investments or operate as a lending or financing company. It offered placements of PHP 10,000 to PHP 100,000 with purported guaranteed monthly returns of 6%, alongside loan and membership programs involving fees, share capital and savings deposits. During the operation, undercover agents exchanged PHP 100,000 for an investment contract, leading to the defendants’ arrests.
2026-09-17Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission secures convictions of two Aura Finance and Investments operators for unauthorized securities sales
The Philippine Securities and Exchange Commission secured the convictions of two Aura Finance and Investments operators for offering unregistered securities without the required authority. Aura solicited placements of PHP 10,000 to PHP 100,000 with purported guaranteed monthly returns of 6% despite lacking corporate registration and the necessary licenses.