If you haven’t read our deep dives yet, start here: Mica Tan and Inside the Alleged Scam Behind MFT Group.
DOJ Says There’s “Certainty of Conviction”
Justice Secretary Crispin Remulla announced on June 19 that the Department of Justice (DOJ) has found strong evidenceto support the criminal prosecution of Maria Francesca “Mica” Tan and her associates for violating Philippine securities laws. The DOJ emphasized there is “reasonable certainty of conviction”—meaning the evidence is solid enough to likely result in a guilty verdict in court.
The charges stem from alleged illegal investment activities through Tan’s MFT Group of Companies, which reportedly offered unregistered securities, misled investors, and operated without proper SEC registration.
The original complaint was filed by the Securities and Exchange Commission (SEC) in 2023.
What’s the Case About?
The DOJ’s resolution accuses Mica Tan and MFT officers of:
- Selling unregistered securities
- Fraudulent misrepresentation of investments
- Engaging in business without proper licenses
While the DOJ dropped the anti-money laundering charges, these were forwarded to the Anti-Money Laundering Council (AMLC) for further review.
According to the SEC, the investment scheme involved “borrower-lender” style agreements—contracts that looked legal on the surface but were allegedly structured to avoid regulatory oversight. Investors were reportedly promised high returns, pegged as “sure projects,” without full transparency.
The Bigger Picture
This isn’t just about one business leader, it’s a wake-up call for all Filipino investors, especially those putting money into “exclusive” or “private placement” investment schemes without confirming SEC approval.
Remulla’s firm statement shows that the DOJ is taking a more aggressive stance against white-collar crime. It also suggests the Philippine government is becoming more serious about prosecuting corporate fraud, especially when it affects the middle class and OFWs looking to invest back home.
What Happens Next?
- Formal indictments are expected to be filed in court shortly.
- Mica Tan and MFT executives will have to answer the charges in criminal court proceedings.
- The AMLC may open a separate investigation regarding money laundering.
- Affected investors are watching closely, and restitution may be possible depending on court rulings.
Outside Resources for Context:
- DOJ charges MFT over alleged investment scam – BusinessWorld
- DOJ orders filing of cases vs Mica Tan – ABS-CBN News
Why This Matters
Mica Tan once branded herself as a visionary entrepreneur. Now, she faces criminal charges that could define her legacy. Whether you’re an investor, startup founder, or just someone trying to grow your money, this case shows how important it is to ask questions, check for licenses, and stay sharp—especially when big promises are made.
