Tag: Securities and Exchange Commission

SEC files criminal raps vs Kapa-Community Ministry International

(Eagle News)–The Securities and Exchange Commission on Tuesday, June 18, filed criminal charges against Kapa-Community Ministry International, Inc. for allegedly operating a Ponzi scheme. Charged for  violation of  Republic Act No. 8799, or the Securities Regulation Code, before the Department of Justice were Kapa founder and president Joel A. Apolinario, trustee Margie A. Danao and corporate secretary Reyna L. Apolinario. Also charged were  Marisol M. Diaz, Adelfa Fernandico, Moises Mopia, Catherine Evangelista and Rene Catubigan […]

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Rappler’s Ressa, 2016 board members charged in court for alleged violation of Anti-Dummy Law

(Eagle News)—Rappler chief executive officer Maria Ressa and members of the board of the news outfit three years ago have been charged in court for alleged violation of the Anti-Dummy Law. Apart from Ressa, charged before the Pasig Regional Trial Court were Manuel Ayala, James Bitanga, Nico Jose Nolledo, James Velasquez, and Felicia Atienza, all members of Rappler’s 2016 board. Ayala, Nolledo, Gloria, Bitanga, Atienza and  Velasquez have posted bail of P90,000 each. Ressa is […]

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Palace on CA affirming previous decision vs Rappler: “We will let the law take its course”

(Eagle News)—“We will let the law take its course.” This was the Palace’s reaction to the Court of Appeals decision to affirm its earlier ruling in favor of the Securities and Exchange Commission’s decision against Rappler. “As we said, any case that has been filed before the courts, we will not interfere,” Presidential Spokesperson Salvador Panelo said. Panelo also reiterated press freedom had nothing to do with the Rappler’s case before the SEC, which ruled […]

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CA dismisses Rappler plea to reverse earlier decision on SEC ruling “for lack of merit”

(Eagle News)–The Court of Appeals has denied Rappler Inc.’s and Rappler Holdings Corp.’s motion for it to reconsider its upholding of a Securities and Exchange Commission decision that ruled the two violated constitutional restrictions on foreign ownership of mass media. In denying the motion for partial reconsideration, the former special twelfth division noted the petitioners did not raise any new matter or issue. “While there is no denying that a full compliance with the procedure […]

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Rappler’s Ressa posts P204,000 bail before tax court

(Eagle News) — Rappler Holdings Corp. president Maria Ressa on Tuesday, Dec. 11, posted bail for the tax cases filed against her. Ressa went to the Court of Tax Appeals to post the bail bond in the amount of P204,000—P24,000 for one count of violation of Section 254 of the National Internal Revenue Code, or tax evasion, and P60,000 for each of the three counts for violation of Section 255 or for deliberate failure to supply correct […]

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CA junks Rappler’s petition vs SEC ruling

(Eagle News)–The Court of Appeals has junked the petition for review filed by online news site Rappler Inc. and Rappler Holdings Inc. against the decision of the Securities and Exchange Commission to revoke their certificate of incorporation. In a 72-page decision, the CA Special 12th Division denied the SEC had committed grave abuse of discretion when it made the revocation for what it said were Rappler Inc.’s and Rappler Holdings Inc.’s  violation of the Constitution and foreign-equity […]

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SEC warns public vs investing in BOSS Network Inc.

(Eagle News) — The Securities and Exchange Commission on Thursday, July 12, advised the public to exercise caution when dealing with Building our Success Stories Network Inc (BOSS Network Inc.). In an advisory, the SEC said that while BOSS Network was registered with the agency, it can only engage in “direct selling of goods and merchandises to consumers” and was “not authorized to offer, solicit, sell or distribute any investment/securities.” Based on information provided to […]

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Palace cries foul over Facebook’s choice of Rappler, Vera Files as “fake news” checkers

There should be a “more partial arbiter of truth,” Roque says (Eagle News) — The Palace on Monday, April 16, cried foul over Facebook’s choice of Rappler and Vera Files as fact-checkers tasked to weed out fake news and misleading content in the platform. According to Roque, there should be a “more partial arbiter of truth” that will review stories on Facebook that have been flagged as dubious. In January, the Securities and Exchange Commission revoked […]

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Rappler: Administration using gov’t resources to run after us

(Eagle News) — Rappler on Friday slammed the administration for its alleged use of government resources to go after the media entity. “The Duterte administration is mustering state resources at the risk of grave embarrassment and accusations of arbitrariness and brazen harassment. What is this government so afraid of?” Rappler said in a statement posted on its site. The statement came after the National Bureau of Investigation filed a cyber-libel complaint against Rappler executive editor […]

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NBI files cyber-libel complaint vs Rappler

(Eagle News) — The National Bureau of Investigation has filed a cyber-libel complaint against Rappler in connection with an article it published in 2012. Included in the complaint filed before the Department of Justice on March 2 were  Reynaldo Santos, writer; Maria Ressa, Rappler editor in chief; and Rappler directors Manuel Ayala, Nico Jose Nolledo, Glenda Gloria, James Bitanga, Felicia Atienza, Dan Alber de Padua and Jose Maria Hofilena. The complaint stems from the article […]

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UPDATED: BIR sues Rappler for tax evasion

Also charged was accountant who certified Rappler financial statements “despite clear omission, misstatement,” BIR says (Eagle News) — The Bureau of Internal Revenue has sued Rappler Holdings Inc. for tax evasion. In a statement on Thursday, the BIR said the criminal complaint against RHC, its president Maria Ressa, and treasurer James Bitanga was filed before the Department of Justice. The complaint was in connection with RHC’s alleged “willful attempt to evade or defeat tax” and […]

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SEC says Omidyar donation to Rappler must be coursed through Court of Appeals

Adds “relevant parties” should observe sub judice rule and “refrain from making unnecessary pronouncements through media” (Eagle News) — The act of converting Omidyar Network’s $1.5-million investment in Rappler into a donation should be coursed through the Court of Appeals, the Securities and Exchange Commission said on Thursday. In a statement posted on its website, the SEC said this was because its decision to revoke Rappler’s license to operate on the basis it violated constitutional […]

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