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THE Department of Justice (DoJ) on Thursday said it found enough evidence to charge executives of the Maria Francesca Tan (MFT) Group of Companies with multiple violations of securities laws, following a preliminary investigation initiated by the Securities and Exchange Commission (SEC).

In a resolution released Thursday, the DoJ said there is “prima facie evidence with reasonable certainty of conviction” against MFT Group and its officials for allegedly offering unregistered securities, engaging in fraudulent transactions, and operating without the proper licensing under the Securities Regulation Code. The case also invokes the provisions of the Cybercrime Prevention Act.

MFT did not immediately respond to an e-mail seeking comment.

The charges stem from a complaint filed by the SEC, which accused the firm of luring investors with promises of high returns through financing so-called “sure projects” involving its subsidiaries, despite not being authorized to offer securities to the public.

While the DoJ dropped complaints related to anti-money laundering violations, it forwarded the full case records to the Anti-Money Laundering Council for further review. — Chloe Mari A. Hufana

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