Press Release

SEC-Davao commends Sto. Tomas cops for arrest of AGMC president

DAVAO CITY --- The Securities and Exchange Commission – Davao Extension Office (SEC-DEO) has commended the Sto. Tomas Police Office over the arrest of Arnel T. Aratia for illegally taking in investments without a secondary license.

DAVAO CITY — The Securities and Exchange Commission – Davao Extension Office (SEC-DEO) has commended the Sto. Tomas Police Office over the arrest of Arnel T. Aratia for illegally taking in investments without a secondary license.

The extension office said Aratia’s arrest is an indication that law enforcers like the Sto. Tomas Police Office in Davao del Norte have been doing everything to prevent the proliferation of similar entities.

“We hope more fraudulent investment entities are stopped with the help of our hardworking police officers,” the extension office said after receiving a report that Aratia was arrested in the municipality after the police office formed a team to track him down.

On Thursday, a team headed by Col. Frederick Deles arrested Aratia, who was identified as the one behind the Achievers Golden Marketing and Consulting’s (AGMC), in RPJ Village, Feeder Road 3, Tibal-og, Sto. Tomas.

The arrest came about after Judge Vernard Quijano of the Regional Trial Court Branch 153 in Biñan City, Laguna issued a warrant for a syndicated estafa case with no bail, and two counts of violation of Sections 8 and 28 of Republic 8799 or the Securities Regulation Code (SRC) which carry a bail of P126,000 for each count against Aratia, a resident of San Francisco, Agusan del Sur.

On September 15 last year, the Commission raised an advisory against AGMC and Achievers Golden Holdings Inc. (AGHI) for soliciting investments from the public without a secondary license as prescribed under Section 8 of the SRC.

AGMC, which has an office in the at the 2nd Floor Room 2 Valencia Corporate Center Arellano Street, Davao City, offers a “cash back program” where one can invest between P5,000 to as high as P1 million with the promise of a return between 1% and 30% depending on the amount on a monthly basis for three months. ###

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