SEC Adm. Case No. 07-09-108 Goldmany Advisory Services, Inc.

Securities and Exchange Commission SEC Bidg. E:DSA, Greenhills, Mandaluyong City Republic of the Philippines

In the Matter of

INC. GOLDMANYADVISORY SERVICES Case No. 07-09-108 FOR: Revocation of Corporate SEC Administrative [Ref: CED Case No. 08-2883] Registration

ENFORCEMENT AND PROSECUTION DEPARTMENT,

Petitioner.

X

DECISION

This refers to the Enforcement and Prosecution Department's (`EPD," for brevity) Petition for Revocation cf Corporate Registration against GOLDMANY ADVISORY SERVICES, INC. (`GOLDMANY", for brevity), filed on 29 July 2009. GOLDMANY and its incorporators/directors were dulv notified of the Petition through publication.1 However, respondents still failed to controvert the charges against them, and the facts are undisputed.

GOLDMANY is a corporation registered on 14 January 2005 under SEC Registration No. CS200500620. Its principal office address is listed at 19th Floor Ayala Triangle, Ayala One, Ayala Avenue, Makati City. Its primary purpose, as stated in its Articles of Incorporation, is:

"To operate as an adviser, agent, broker, consultant, coordinator and facilitator between market partidipants in transactions involving, but not timited to international certificates of deposit, fixed income securities bonds/bills of exchange, bankers acceptances, foreign exchange and similar produds, other than acting as a broker for the trading of securities pursuant to the Revised Securities Act of the Philippines."

Notice was given through piublication of the Commission's 06 January 2010 Order in the Phitippine Star on 1 9 January z0:0, and posting of the Order together with the Petition on the Commission's website and on a conspicuous area in the Commission's office premises. Evidence of the said publication and posting was submitted through EPD's Compliance dated 09 Juy 70 1 0. and are cn record.

http:77www.sec.gov.ph (632) 726-09-31 to 39

SEC Administrative Case No. 07-09-108 n Re: GOLDMANY ADVISORY SERVICES. INC

Revocation of Corporate Registration Decision Page 2 of 4

Further, its Articles list its incorporators/first directors, together with their espective addresses, as:

Name Residence

Robert F. Lopez 8902 Alger St., Poblacion Makati City 1210

Nestor M. Panei 928 Tayuman St. Tondo, Manila

William A. Go 3082 Sen. Gil J. Puyat Ave., Pasay City

Benigno B. Garcia Subdivision, Phase IV, Paranaque City 1288 Camarro St., Gatchalian

Liberato P. Dajao 5268 Antipolo St., Maypajo, Caloocan City

On 14 August 2007, EPD received an e-mail from a certain Blossom Mesina.2 EPD also received another e-mail from a certain Rey of Riyadh on 15 August 2007.3 Both emails inquired about the iegitimacy of the GOLDMANY's foreign exchange trading operations. Consequentiy, EPD formed a team to investigate.

On 13 October 2008, the team visited GOLDMANY's principal office. The team found out that the corporation has ceased occupying the said office for almost a year already. The team also conducted surveillance on the respective residential addresses of GOLDMANY's incorporators. It was discovered that the addresses given by Robert F. Lopez, Nestor M. Paner, Liberato P. Dajao and Benigno B. Garcia were fictitious based on the certifications issued by the respective barangay officials having jurisdiction over the area.4

Moreover, GOLDMANY's authorized capital stock is One Million Pesos (Php1,000,000.00) divided into One Million (1,000,000) shares valued at One Peso (Php1.00) per share. The amount of capital stock which was actually subscribed is Two Hundred Fifty Thousand Pesos (Php250,000.00). The following incorporators who subscribed for the number of shares and the amount of capital stock indicated and paid-up are as follows:

2 Petition, Pnnex C. 3 Petition, Annex D. 4 Petition, Annexes E to H.

Revocation of Corporate Registration Decision Page 3 of 4 In Re: GOLDMANY ADVISORY SERVICES, INC. SEC Administrative Case No. 07.09- 108

Name Number of shares subscribed subscribed Amount Amount Paid

Robert P. Lopez 50,000 50,000 P12,500.00

Nestor M. Paner 50,000 50,000 P12,500.00

William A. Go 50,000 50.000 P12,500.00

Benigno B. Garcia 50,000 50,000 P12,500.00

Liberato P. Dajao 50,000 50,000 P12,500.00

Total 250,000 250,000 P62,500.00

Two Thousand Five Hundred Pesos (Php62,500.00) representing the paid-up capital In his Treasurer's Affidavit, Robert F. Lopez certified that the amount of Sixty

Allied Banking Corporation-Buendia Branch. A Certificate of Deposit dated 13 of the said corporation was deposited in his riame as treasurer-in-trust for Bank-Buendia Branch was also submitted to the Commission as evidence that there GOLDMANY ADVISORY SERVICES INC. under Savings Account No. 400-04552-3 in January 2005 purportedly issued by Rodolfo C. Manezo as Branch Manager of Allied

was indeed such: a deposit.

The team went on to verify the existence of the purported deposit. On 27 February 2009, Allied Bank-Buendia Branch certified that the purported Certificate of Deposit was not issued by Allied Bank.? In other words, the Certificate of Deposit is spurious and no such deposit was ever made.

The incorporators' acts of giving false addresses in their Articles of Incorporation, and submitting a spurious certificate of deposit constitute fraud in the procurement of certificate of registration warranting revocation of GOLDMANY's charter in accordance with Section 6, par. L (1) of Presidential Decree 902-A, as amended, which states:

"Section 6. In order to effectively exercise such jurisdiction, the Commission -shall possess the following powers:

XX XXX XXX

upon any of the grounds provided by iaw, including the following: or certificate' of registration of corporations, partnerships or associations, (L) -- To suspend, or revoke, after proper notice and hearing, the franchise

Petition Annex J. 7 Petition, Annexes K and L. Petition, Annex I.

Revocation of Corporate Registration Decision Page 4 of 4 In Re: GOLDMANY ADVISORY SERVICES, INC SEC Administrative Case No. 07-09- 108

1. Fraud in procuring its certificate of registration; xox

GOLDMANY ADVISORY SERVICES, INC.'s Certificate of Incorporation (Company Reg. No. CS200500620.) is hereby REVOKED. WHEREFORE, premises considered, the Petition is hereby GRANTED.

Paner, William A. Go, Liberat: P. Dajao, and Berigno B. Garcia are hereby placed on the Commission's watch list. Further, GOLDMANY's incorporators namely, Robert F. Lopez, Nestor M.

Monitoring Department for its appropriate action. Let a copy of this Decision be furnished to the Company Registration and

responsible directors and officers of the subject corporation. This is without prejudice to any further actions that may be taken against the

SO ORdEREd.

Mandaluyong City, 05 August 2010.

PE B. BARIN t 8.5

Chairperson

L 9,LWr Ma. JuanitA e. cueto RAUL J. PALABRICA

Commissioner Commissior

Manuel Huberto B. Gaite Commissioner LadIQm. jAla Commissioner

*on leave

Emphasis ours.