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In a complaint-affidavit filed by the Securities and Exchange Commission , the regulator said it found the respondents liable for 441 counts of violations of the Securities Regulation Code and the Revised Corporation Code, which were allegedly committed from 2015 to 2019. Among the respondents are Abra Mining president James Beloy and five other officers, as well as five officials of Asian Transfer and Registry Corporation. The SEC also included five stockholders who allegedly colluded with Abra Mining executives.on Abra Mining for discrepancies in its shares lodged with the Philippine Depository and Trust Corporation. The total number of Abra Mining shares lodged with the PDTC totaled 258.
The SEC found that illegal issuances of shares reached 169.05 billion, covering 474 stock certificates from 2015 to 2019. These illegally issued shares were lodged and traded on the PSE in numerous transactions.
Source: Digital Coin News (digitalcoinnews.net)
Mining Industry Philippine Stock Exchange SEC Business Corporate Stocks &Amp Banking
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