Neri Naig ‘enticed investments’ into derma company, SEC says

Neri Naig. Image: Instagram/@mrsnerimiranda

The Securities and Exchange Commission (SEC) said Neri Naig, who was arrested over charges for estafa and securities violation, supposedly “enticed investments” into the dermatological company she endorsed lwithout having the license to do so.

“Ang nakuha naming mga impormasyon po ay siya po ay parang naghikayat ng mga investments dun sa Beyond Skin Care. Yun po yung kumpanya na iniimbestigahan po,” SEC Enforcement and Investment Protection Department Director Filbert Catalino Flores III said in a “Teleradyo Serbisyo” interview on Thursday, Nov. 28.

(According to the information we got, she enticed investments into Beyond Skin Care, the company that is being investigated.)

“Sa Securities Regulation Code, ‘yung Section 28 na binanggit po, ang kailangan po kapag ang isa ay involved sa buying and selling ng securities po, investment contracts, etcetara, ‘yan po ay kailangan nakarehistro sa SEC,” he continued.

(In Section 28 of the Securities Regulation Code that was mentioned, a person involved in buying and selling securities, investment contracts and the likes should be registered under SEC.)

Flores underscored that the SEC requires such registration to “maintain the integrity of the investment and capital market.”

Speaking about the defense of Naig’s husband, musician Chito Miranda, that the actress was just a mere “talent” or endorser of the company, Flores explained, “Kung ang in-endorse lang naman niya, kunwari ay itong produkto na ito or sinasabi lang na ‘Magpunta kayo d’yan, maganda mag-makeup d’yan’—’yung mga ganon, walang problema yan.”

(If she just endorsed the company’s products and services, and persuaded customers to visit the establishment, then there would be no problem with that.)

“Pero kapag ang sinabi, ‘Magandang investment ‘to kasi kikita kayo ng ganito, kikita kayo ng 10 percent or something,’ involved na kayo sa buying and selling of securities. Kailangan rehistrado na po kayo,” he stressed.

(But if she talked about investments and said, “You will earn a certain amount here, 10 percent or something,” then she was already involved in buying and selling of securities. She must have the license to do such.)

Flores then underscored that securities violation is a bailable offense, and that Naig has been detained due to the syndicated estafa complaint against her.

Naig was arrested last Nov. 23 and is now detained at the Pasay City Jail female dormitory. Her arraignment for the alleged securities violation reportedly did not proceed on Thursday after her camp filed a motion to quash.