MANILA — An Israeli national is facing criminal charges for illegal investments and business trading, the National Bureau of Investigation (NBI) said Wednesday.
NBI Director Dante A. Gierran identified the Israeli national as Ariel Altaraz, owner and manager of the company S&L Services, Inc., a company allegedly involved in the illegal business of bogus/artificial currency and stocks trading and selling securities through the internet otherwise known as “boiler room” activities.
The case stemmed from the complaint of a former customer service representative of the company who revealed that it is engaged in illegal business activities and selling securities through the internet, thus, victimizing Filipino overseas workers and foreign nationals.
The NBI confirmed that the complaint has basis after a series of confidential verification and investigation. Likewise, a check from the office of Markets and Securities Regulations Department of the Securities and Exchange Commission (SEC) revealed that S & L Securities Services, Inc. is not duly registered and has not been issued a permit to sell securities.
After securing a search warrant from the court, operatives of the NBI-International Operations Division (NBI-IOD) served the search warrant against the company in its office in Ortigas Center, Pasig City, last Sept. 26 which resulted in the seizure of 12 sets of computers used by the company in its illegal business operations.
However, Altaraz was not around during the serving of search warrant.
NBI will file criminal charges against the Israeli national and his company in violation of R.A. 8799 otherwise known as the Securities Regulations Act in relation to R.A. 10175 or the Cyber Crime Prevention Act of 2012. (PNA)
