In the fast-paced world of business, success stories often captivate our imagination, inspiring us with tales of ambition, innovation, and achievement. Maria Francesca “Mica” Tan, the CEO of the MFT Group of Companies and managing partner of the Foundry, seemed to embody this narrative perfectly. At a remarkably young age, she had already made waves in the corporate world, building a reputation as a savvy entrepreneur with a knack for investment. However, what began as a promising ascent to the top ultimately unraveled into a legal quagmire, tarnishing Mica Tan’s once-shining image and raising questions about the integrity of her business practices.
In 2017, Mica Tan found herself in the spotlight, hailed as a prodigious talent in the business world. While her peers were still climbing the corporate ladder, Mica Tan had already established herself as a force to be reckoned with. At just 27 years old, she had founded the MFT Group and the Foundry, a private equity firm that quickly gained traction in sectors such as healthcare, food, and financial services. Mica Tan’s meteoric rise caught the attention of the media, who marveled at her precociousness and entrepreneurial spirit.
Photo from MFT group website
Mica Tan’s journey into the world of business began at a young age, shaped by her parents’ influence and her own innate drive. Raised in a family with a background in business and medicine, she learned the fundamentals of finance from an early age. By 13, she was already dabbling in the stock market, and by 15, she had ventured into foreign exchange. Her formative years were marked by a relentless pursuit of knowledge and opportunity, setting the stage for her future success.
With her growing reputation as a rising star in the business world, Mica Tan found herself thrust into the spotlight as a mentor on the television show “The Final Pitch.” Her ability to bridge generational divides and inspire both young and old entrepreneurs further cemented her status as a role model in the industry. Mica Tan’s achievements did not go unnoticed, earning her accolades and recognition from prestigious institutions such as the SGV Foundation and Tatler Asia.
However, Mica Tan’s seemingly charmed trajectory took a dark turn in 2022 when allegations of financial impropriety surfaced. Investors raised concerns over bounced checks and questionable business practices, prompting organizers to rescind her nomination for the EY Entrepreneur of the Year award. What followed was a bitter dispute, with multiple investors filing complaints against Tan and her companies.
The Securities and Exchange Commission (SEC) launched an investigation into the MFT Group and the Foundry Ventures, alleging illegal investment activities and fraudulent practices. According to the SEC, Tan’s business model operated on a Ponzi-like scheme, where existing investors’ returns were funded by new investors’ contributions. The SEC issued a cease-and-desist order against the companies, citing violations of securities regulations and misleading financial statements.
Mica Tan and her associates vehemently denied the accusations, insisting that they operated within the bounds of the law and had always prioritized transparency and integrity. Despite their protests, the SEC filed criminal charges against them, alleging violations of securities laws and financial misrepresentations. The legal battle that ensued cast a shadow over Tan’s once-promising career, raising doubts about her business ethics and integrity.
As Mica Tan and her associates navigate the legal complexities of their situation, the future of the MFT Group and the Foundry hangs in the balance. What began as a story of ambition and success has now become a cautionary tale about the perils of unchecked ambition and the importance of ethical conduct in business. As the legal proceedings unfold, the fate of Maria Francesca “Mica” Tan serves as a sobering reminder of the consequences of greed and deception in the pursuit of success.
In addition to Mica Tan, a host of other individuals have been implicated in the controversy surrounding the MFT Group and the Foundry. Eduardo Tan, Florita Tan, Enrique Eduardo Tan, Charles Edward Tan, Christian Konstantin Agbayani, Mario dela Fuente, Philip Tan, Jenna Fuentes, Ronaldo Nery, Halmond Parker R. Ong, Chiqui T. Tan, Jose Donnie B. Montelibano, Romarico S. Ruiz, Arlene M. Navarro A.K.A. Arlene Mauricio, Maria Beatriz Dolores R. Tomas, Mary Ruth A. Oquendo, Joanne A. Cabaero, Thuy Nguyen, Roxanne “Roxy” G. Agbayani, Luis Gabriel R. Cancio, Jr., Noel M. Olan, Joselito “Jr” D. Hernandez, Jr., Christian M. Olan, Tito T. Cosejo, Jr., Christian De Vera, Jose Carlos R. Cancio A.K.A. Carlos Cancio, Mae Tan, Martin Choi, Reanne Po, Marta Gilda M. Poursabouri, Alan Madlangbayan, Mildred Madlangbayan Jeruz Madlangbayan, and Rosanna Vidal.
Each of these individuals played a role in the operations of the MFT Group and the Foundry, and each now faces scrutiny and legal action in connection with the alleged Ponzi scheme. As the investigation unfolds, the full extent of their involvement and culpability remains to be seen. However, one thing is clear: the fallout from this scandal will have far-reaching consequences for all those involved, serving as a stark reminder of the importance of ethical conduct and regulatory compliance in the world of business.
As Mica Tan and her associates navigate the legal complexities of their situation, the future of the MFT Group hangs in the balance. What began as a story of ambition and success has now become a cautionary tale about the perils of unchecked ambition and the importance of ethical conduct in business. As the legal proceedings unfold, the fate of Maria Francesca “Mica” Tan serves as a sobering reminder of the consequences of greed and deception in the pursuit of success.
here is the link to SEC’s earlier CDO on January 18:
