SEC Addresses Neri Naig Case
SEC – The Securities and Exchange Commission clarified on Thursday that actress and entrepreneur Neri Naig is facing charges of estafa and violating the Securities Regulation Code (SRC) for allegedly persuading individuals to invest in a skincare company that lacked the necessary authorization to solicit investments.
SEC Director Filbert Catalino Flores III explained in a TeleRadyo Serbisyo interview that Naig endorsed Beyond Skin Care, a company under investigation for offering unauthorized investment opportunities. The company, operated by COO Chanda Atienza and finance manager Venus Eunice Gonda, promoted “franchise partner agreements” promising a 12.6% quarterly return over five years and complimentary services, according to an SEC advisory.
The SEC stated that Beyond Skin Care lacked registration or a license to sell securities. It warned that individuals promoting the company, including salesmen, recruiters, and endorsers, could face criminal charges under Section 11 of the Financial Products and Services Consumer Protection Act and Section 28 of the SRC. Violations carry penalties of up to 21 years in prison or fines of up to ₱5 million, or both.
Naig was arrested in Pasay City last Saturday for 14 counts of SRC violations, with bail set at ₱126,000 per count. Complaints revealed that two investors contributed ₱1.5 million after Naig endorsed the company. However, no bail was recommended for a related syndicated estafa case.
Naig’s husband, Parokya ni Edgar vocalist Chito Miranda, defended her, stating she was merely an endorser whose image was used to attract investors. He emphasized that Naig did not handle any money, which was under Atienza’s control.
SEC’s Flores clarified that being an endorser doesn’t absolve someone from liability if they actively promote investment opportunities, citing the Howey Test to distinguish between legitimate investments and unauthorized securities transactions.
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