complaint affidavit

Transcription

complaint affidavit

,.,
.)
Republic of the Philippines
•••... Depar;tment of Justlcl!,.
National Prosecution Service
.-
~'-NOV2
INVESTIGATION DATA FORM
NPS DOCKET No. :
Assigned to:
Date Assigned
_
---i\ci'l'l
6_1~11:ID
ilEPARTME!~ JUSTICE
To be accomplished by the Office
DATE RECEIVED:
(Stamped and initialed) ~~
Time Received: ---l.t.:..!P fl",-.-J
Receiving Staff:
"'It: I~
___
PROSECUTION STAFF
TASK FORCE/SPECIAL CASES
_
_
To be accomplished by complainanl/counsel/law enforcer
(Use back portion hpace is not sufficient)
COMPLAINANT/S: Name, Sex, Age, and Address
SECURITIES AND EXCHANGE COMMISSION
SEC Bldg., EDSA Greehills, Mandaluyong City
RESPONDENT/S: Name, Sex, Age, and Address
MICHAEL ILUSTRE ANGELES, Male 41
101 UrbanAvenue MakatiCity and/or
B14 L25 Duraville HomasII Ampid, San Mateo, Rizal
CARMELO DELA CRUZ BUNAG, Male 32
8256 ConstanciaStreet,Olympia,Makati City
ARNOLD RYAN DAOlnz DELLOSA, Male 28
647 S. Cristo, Pulilan,Bulacan
RICHIE RAMILLE ISIP, Male32
B5 L5 Patricia Homes II, Pamplona,Las Pinas City
ARNOLD DAOUIZ MARTIN, Male 29
185 Silio Sumilang,BagongSilang, Plaridel, Bulacan
GARY LINCOLN CALIXTRO TABOSO, Male 33
Unit 1212, First MarcelTower, 926, Araneta Avenue, Quezon City
DENNIS PHILIPPE VALENCIA VlST AN, Male 38
600 Agnaya, Plaridel Bulacan
(
ZANDRO JOSE SIGFRIDO LAKI ZULUET A, Male 34
BSA Mansion, BenavidezStreet, LegazplVillage, MakatiCity or
6F Sun Plaza Building,Shaw Boulevard, MandaluyongCity
JUVY OCAMPO, KING BRYAN SULlT, ALVIN MORFE and
SHERYLSIA
LevelS, Tower 2, EnterpriseBuilding,Ayala Avenue comer Paseo
de Roxas, Makati, 1226
JOHN and JANE DOES
LAW/S VIOLATED:
WITNESS/ES: Name and Address
Section 24 (b)(i) and (iii) of Republic Act No. 8799
Otherwise known as the "Securities Regulation Code".
DATE AND TIME OF COMMISSION:
PLACE OF COMMISSION:
1. Has a simiiar complaint been filed before any other office? •
2. Is this complaint in the nature of a counter - affidavit?
3. Is this complaint related to another case before this office? •
YES
YES
YES
CERTIFICATION*
I CERTIFY, under oath, that all the information on this sheet are true and correct to the best of my knowledge and
belief, that I have not commenced any action or filed any claim involving the same issues in any court, tribunal, or quasijudicial agency, and that if I should thereafter learn that a similar action has been filed and/or pending, I shall report that
fact to this Honorable Office within five (5) days from the knowledge thereof.
SUBSCRIBED AND SWORN TO before me this 26th day of November 2012 in the City of Manila.
REPUBLIC OF THE PHILIPPINES
DEPARTMENT OF JUSTICE
MANILA
SECURITIES
COMMISSION,
AND
PROSECUTION STAFF
TASK FORCE/SPECIAL CASES
NOV 2 6 201Z' ..
EXCHANGE
DEP~RTP:jE~~
Complainant,
~u~;z'~
. I.S. No.
_
. For: Violation of Sec. 24 (b)(i)
. and (iii) of R.A. 8799, otherwise
known
as
the
Securities
. Regulation
Code
(Market
. Manipulation)
- versus-
MICHAEL
ANGELES,
CARMELO
BUNAG, ARNOLD RYAN DELLOSA,
RICHIE RAMILLE
ISIP, ARNOLD
MARTIN, GARY LINCOLN TABOSO,
DENNIS PHILIPPE VISTAN, ZANDRO
JOSE ZULUETA, JUVY OCAMPO,
GLAIZEL ECO, KING BRYAN SULlT,
ALVIN MORFE, SHERYL SIA, JOHN
DOES and JANE DOES,
Respondents,
x-------------------------------------------------x
COMPLAINT -AFFIDAVIT
The SECURITIES AND EXCHANGE COMMISSION ("SEC", for brevity),
through its Enforcement and Prosecution Department ("EPD", for brevity), by
the undersigned counsels, after having been duly sworn to in accordance with
law, respectfully states that:
INTRODUCTION
The present complaint-affidavit
is for market manipulation under Section
24(b)(i) and (iii) of Republic Act No. 8799, otherwise known as the Securities
Regulation
Code (SRC), involving the trading of CALATA CORPORATION
("CAL") shares from 23 May -
July 2012 committed by the Respondents,
conspiring with one another, when they traded CAL shares from 23 May -
8
June 2012 ("subject period"), and even sometime thereafter, through multiple
brokers,
to intentionally
and unlawfully
raise the price of the said shares
artificially through such illegal schemes as "painting the tape," "hype and dump"
and other methods for their own profit.
001153
~I
Complaint-Affidavit
SEC vs. Ange/es, et at.
Page 1 of 78
PARTIES
1.
Complainant
SEC is a government agency duly organized and
existing under and by virtue of Commonwealth Act No. 83, otherwise known as
the "Securities Act", as amended, and reorganized under Republic Act No. 8799,
otherwise known as the "Securities Regulation Code," ("SRC") with principal
office address at the SEC Building, EDSA, Greenhills, Mandaluyong City.
It is
represented
with
herein by the Enforcement
and Prosecution
Department
address at the 5th Floor, SEC Building, EDSA,. Greenhills, Mandaluyong City
where it may be served with summons and other processes of this Honorable
Office.
2.
Respondent
MICHAEL
ILUSTRE
ANGELES
("Respondent
Angeles", for brevity) is Filipino, aged 41 and allegedly a businessman. He may
be served with summons and other processes of this Honorable Office at his
home address at 101 Urban Avenue Makati City or alternatively, his business
address at B14 L25 Duraville Homes II Ampid, San Mateo, Rizal.
3.
Respondent
CARMELO
DELA
CRUZ
BUNAG
("Respondent
Buna," for brevity) is Filipino, aged 32 and allegedly engaged in diversified
business.
He may be served with summons
and other processes
of this
Honorable Office at his home address at 8256 Constancia' Street, Olympia,
Makati City.
4.
Respondent ARNOLD RYAN DAQUIZ DELLOSA ("Respondent
Dellosa," for brevity) is Filipino, aged 28 and allegedly engaged in business. He
may be served with summons and other processes of this Honorable Office at his
home address at 647 S. Cristo, Pulilan, Bulacan.
5.
Respondent RICHIE RAMILLE ISIP ("Respondent Isip," for brevity)
is Filipino, aged 32, and allegedly engaged in business. He may be served with
summons and other processes of this Honorable Office at his home address at
B5 L5 Patricia Homes II, Pamplona, Las Pinas City. Based on CAL's latest
General Information Sheet (GIS), Respondent Isip is a shareholder of CAL preIPO and owned 9,500,000 shares.
001152
Complaint-Affidavit
SEC vs. Angeles, et a/.
Page 2 of 78
.'
6.
Respondent ARNOLD DAQUIZ MARTIN ("Respondent Martin," for
brevity) is Filipino, aged 29, and allegedly engaged in business. He may be
served with summons and other processes of this Honorable Office at his home
address at 185 Sitio Sumilang, Bagong Silang, Plaridel, Bulacan.
7.
Respondent GARY LINCOLN CALIXTRO TABOSO ("Respondent
Taboso," for brevity) is Filipino, aged 33 and allegedly a businessman. He may
be served with summons and other processes of this Honorable Office at his
home address at Unit 1212, First Marcel Tower, 926, Araneta Avenue, Quezon
City. Like Respondent ISip,' Responderit Taboso was identified as a pre-IPO
shareholder of CAL and owned 12,500,000 shares.
8.
Respondent DENNIS PHILIPPE VALENCIA VISTAN ("Respondent
Vistan," for brevity) is Filipino, aged 38 and allegedly engaged in business. He
may be served with summons and other processes of this Honorable Office at his
home address at 600 Agnaya, Plaridel Bulacan. Like Respondents
Isip and
Taboso, Respondent Vistan owned CAL shares pre-I PO. Based on CAL's latest
GIS, Respondent Taboso owned 16,000,000 shares.
9.
Respondent
("Resporident
ZANDRO
JOSE
SIGFRIDO
LAKI
ZULUETA
Zulueta," for brevity) is Filipino, aged 34 and Chief Executive
Officer of Absolute Traders and Consulting, Inc. ("Absolute Traders"). He may be
served with summons and other processes of this Honorable Office at his home
address at BSA Mansion, Benavidez Street, Legazpi Village, Makati City or
alternatively, his business address at 6F Sun Plaza Building, Shaw Boulevard,
Mandaluyong
City. Like Respondents
Isip, Taboso arid Vistan, Respondent
Zulueta was a pre-IPO shareholder of CAL and owned 12,500,000 shares.
10.
GLAIZEL
Respondents JUVY OCAMPO ("Respondent Ocampo," for brevity),
ECO
("Respondent
("Respondent
Eco,"
for
brevity),
Sulit," for brevity), ALVIN MORFE
KING. BRYAN
("Respondent
SULIT
Morfe," for
brevity), AND SHERYL SIA ("Respondent Sia," for brevity) are individuals either
employed or connected with CAL and may be served summons and other.
processes of this Honorable Office at CAL's office address at Level 5, Tower 2,
Enterprise Building, Ayala Avenue corner Paseo de Roxas, Makati, 1226.
11.
Various John and Jane Does who may have provided the funds for
the trades of the respondents and/or aided or abetted in the commission of the
crime herein charged, and whose identities and addresses where they may be
001151
SEC
Complaint-Affidavit
VS. Angeles, et a/.
Page 3 of 78
served with summons and other processes of this Honorable Office have yet to
be identified.
STATEMENT OF FACTS
12.
CAL was originally incorporated as Planters Choice Agro Products
on 23 July 1999 and is engaged in the agricultural business.1 Its primary place of
business is located at McArthur Highway, Banga
1st, Plaridel Bulacan. The
corporation changed its name to CAL on 2 February 2010.
13.
Per its latest General
Information
Sheet (GIS),2 the following
individuals are the officers and members of the Board of CAL:
Name
Joseph Calata
Position
CEO/President
Jose Marie E. Fabella
Corporate Secretary
Benison Paul B. De
Torres
George A. Nava
CFO/COO
Board Member
Baltazar N. Endriga
Board Member
Jaime C. Laya
Board Member
Jose A. Zaide
Board Member
Harvey S. Keh
Board Member
.
14.
Address
Banga
1" ,
Plaridel,
Bulacan
1060-A
Clamor
Compound, Novaliches,
Caloocan City
534 Purok 4, San Roque,
San Rafael, Bulacan
5
Caprina
St.,
La
Residencia de Sta. Rosa,
Sta Rosa City.
12
Edades
St.,
Corinthian
Garden
Subdivision, Quezon City
1000 United Nations
Avenue,
cor.
San
Marcelino St., Ermita
Manila
51 Laguna Bay, South
Bay Gardens, Paranaque
Citv
Unit 1105 Royal. View
Mansions,
242
Lt.
Aritiaga St., San Juan,
Metro Manila
On 28 December 2011, CAL filed an application with the SEC for
the registration of 36,012,000 common shares with a par value of Pl per share
for listing with the Philippine Stock Exchange ("PSE") which was approved.3
A copy of CAL's Articles of Incorporation is attached hereto as Annex "A" and made an
integral part hereof.
.
2
A copy of CAL's Generallnformalion Sheet is attached hereto as Annex "8" and made an
.
.
3
A copy of the Certificate Approving CAL's IPQ is hereto as Annex "C" and made an
001130
SEC
Com plaint -Affidavit
VS. Ange/es, et at.
Page 40178
CAL's initial public offering (IPO) of its shares debuted on 23 May 2012 at an
offer price of P7.50 per share.
15.
Since its IPO on 23 May 2012, CAL shares were able to achieve a
225.85% cumulative increase in its price from its opening level of P7.35 on 24
May 2012 to a peak of P23.95 on 4 June 2012.4 This in'crease was peculiar since
there
were
no significant
events
or disclosures
made which could
have
accounted for the sharp increase in the price and volume traded for CAL shares.
The price movement of CAL shares during the subject period was monitored
through Technistock, a program which tracks and analyzes data of stocks traded
through the PSE, and is reflected in the graphbelow:
--_.~----_._
-_._-
--_._~:-
-_
..._._----_._-_
..• _-_ .... _ ...• _
oa-JU'l.2012
..._-_.------
....,--_._----,_._-_
.. _...
_-.
.._. __ ... _._ .._.... _. __
..
--7r t=_~_==_____
25.00
._ .. 20.00
-_.~.._.~. :~~.:
----.-/
38.20",'
VaUno
16.
Through
its
monitoring,
the
SEC's
Investor
Protection
and
Surveillance Department ("IPSD") observed the following statistics covering CAL'
shares traded during the subject period:
Summary of Statistics for CAL Shares
I23 May 2012 - 8 June 2012
Parameter
Result
Startino Price
7.7000
Endina Price
12.4000
Percent Chanoe
61.04%
Tradino Period
13 davs
Hiohest Hiah
P24.0000
Lowest Low
P6.6600
Highest Close
P23.9500
Lowest Close
P7.3500
•.
I
..
Date
23 Mav 2012
8 June 2012
•.
4 June 2012
23 Mav 2012
4 June 2012
24 Mav 2012
4
A print-out of the Technistock graph of the activity of CAL shares during the subject
period and a summary of statistics are attached hereto as Annexes "D" and "D-1:' respectively,
and made integrals part hereof.
0011,18
Complaint-Affidavit
Page 5 of 78
Median Price
. Avo. Dailv Price
Total Volume
Lamest Volume
Smallest Volume
Avo. Daily Volume
Total Value
Lamest Value
Smallest Value
Avo. Dailv Value
17.
Integrity
P15.3300
P15.0101
219,756,700
38,196,700
1,675,000
6,904,362
P3,298,568,542
P809,702,729
P12,595,179
P253,736,042
4 June 2012
24 Mav 2012
4 June 2012
24 Mav 2012
On 4 June 2012, the IPSO sent a letter to the Capital Markets
Corporation
("CMIC"),
the
authorized
self-regulatory
organization
("SRO") tasked to regulate and monitor the trading activities of the Philippine
Stock Exchange, concerning CAL shares' strange activity. The letter conveyed
the IPSO's observation that there was an unusual spike in the price and volume'
of the CAL shares traded since 24 May 2012. In line with this observation, the
IPSO requested CMIC to submit the trade files of the beneficial owners who
participated in these transactions.
18.
After reviewing the trade files submitted by CMIC, IPSO identified
the following individuals ("Respondents," collectively) as the beneficial owners
who traded the largest volumes of CAL shares:
Name
1. Michael Angeles
2. Carmelo Bunaq
3. Arnold Rvan Dellosa
4. Richie Ramille lsip
5. Arnold Martin
6. Gary Taboso
7. Dennis Vistan
8. Zandra Zulueta
Address
101 Urban Avenue Makati City or alternatively, his
business address at B14 L25 Duraville Homes II
Ampid, San Mateo, Rizal.
8256 Constancia Street, OlVmoia,Makati Citv
647 S. Cristo, Pulilan, Bulacan.
B5 L5 Patricia Homes II, Pamolona, Las Pinas Citv
185 Sitio Sumilang, Bagong Silang, Plaridel,
Bulacan
Unit 1212, First Marcel Tower, 926, Araneta Avenue,
Quezon City
600 Aqnava, PiarideI Bulacan
BSA Mansion, Benavidez Street, Legazpi Village,
Makati City or alternatively, his business address at
6F Sun Plaza Building, Shaw Boulevard,
Mandaluyonq Citv
Based on CAL's GIS, Respondents
Isip, Taboso, Vistan and Zulueta were
immediately identified as shareholders of CAL pre- IPO and had the following
holdings of CAL shares then: .
5
A copy of the 4 June 2012 letter is hereto as Annex "E" and made an integral part
hereof.
SEC
Complaint-Affidavit
VS. Angeles, et al.
Page 6 of 78
Names
# of Shares Owned
% Ownership
Amount Paid
Richie Ramille Isip
9,500,000
2.931
P9,500,000
Gary Taboso
12,500,000
3.858
P12,500,OOO
Dennis Vistan
16,000,000
4.936
P16,OOO,000
Zandro Zulueta
12,500,000
3.856
P12,500,000
Respondent Zulueta was likewise identified as the Chief Executive Officer of
Absolute Traders, the financial adviser of CAL for its IPO.6
19.
Furthermore, it was found that these Respondents coursed their
trading of CAL shares through several brokers, namely, Sunsecurities, Nieves
Securities, Tower Securities, HDI Securities, Venture Securities and Unicapital
Securities ("Subject Brokers," collectively) after opening client accounts with
them. Based on CMIC's computer monitoring system, the highest volumes of
shares traded during the subject period were through Nieves Securities and
Sunsecurities as reflected in the following graph:
TP Partltlpatfon
'-',"".
.
.12:
c
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Note: Taken from CMIC-TMS
20.
It was also observed that the Respondents accounted for 32.95%
of the volume of CAL shares bought and 38.47% of the shares sold during the
subject period broken down as follows:
BENEFICIAL OWNER
.: >:BUY .
I
-
•."'
(23 May 2012 ~ 8 June 2012)
f(~~~lt;;5<'V>L:u~~lrli[J;;~:
..,.s. hare~,.;,:~:~~iJE;~
Copies of CAL's IPO Prospectus and Absolute Traders' 2011 General Information Sheet
are attached as Annexes "F" and "F-1," respectively and made integral parts hereof.
6
0011.1 '/
Complaint-Affidavit
Page 7 of 78
4:-"
GARRY TABOSO
ARNOLD RYAN DELLOSA
CARMELO BUNAG
ARNOLD D. MARTIN
MICHAEL ANGELES
DENNIS PHILIPpE VISTAN
RICHIE RAMILLE ISIP
MICHAEL ANGELESIZANDRO
ZULUETA
ZANDRO ZULUETA
TOTAL
21.
.'.Bt!;ri~~)
." 0:60°"';,
'," ,
,~riocjt!:';;}!
. 12,500.600....
5,6~:o,
.1.1.3~?,~O,O,,'~;17r~';12,a,47:MO
. 5,!l~:0:,~
..8,872.;'00,.:. ,~;~t040/0
.•',;Jc:(l;584. 700,
. 3,00%' :.'
~ • > ,.'.
,/";,":.J'-,':t',:,-. _-:"m,~<':', ~<tf,,:f.'
P,":>\:,',;, ~ ".'-::" -'.r. ~'."_?-:/.:~>
~ ;*";:;c;-
:-:-~.:<.i!
~".2();?g~.pQO,,'c.;'"~.?fl.%:;:1.;~;,,j~17;~?8;1,OG
"'.; .8:VY<;,'~;2i
;~., ~;~,:\~".:,,::~f.;~::,..i~;r-~:.;<~
,r!~,:'9:,;,~&9,::.#:~;-::~~,:_'
1:,-> .' ',:f e3?16 ~~,.~;;
~'~:,':'~.}9i~,,;~fo.:~
..'.:;:..
,12,616;800 ;'i'i'5;.740/0:, •.;,:12;262;800"',c:;~~~¥~;i
.:.:::~::;:1f;;;~~'
••.
;;:,~f:~~,:;.':S,t:::':::~;~r:;..
4;05~~'t;~
6;406,300 '~2.9~o/~<,'
72,418,700
32.95%
..'.. , ".':;'
86,988,200
0.00% .'.;',:
38.47%
On 17 July 2012, the IPSO referred the matter to the EPO for
evaluation and investigation into possible violations of (1) Section 24.1 of the
Securities Regulation Code ("SRC") - manipulation of Security Prices, Devices
and Practices (i.e. "hype and dump," "painting the tape," and "squeezing the
float") and (2) SRC Rule 24.1(b)-1(4)(iv) on hype and dump, painting the tape
and squeezing the float allegedly committed by the Respondents and executed
through the subject brokers.
22.
•
In its referral letter, the IPSO attached a copy of its Preliminary
Report dated 4 July 20127 containing
some of its findings
relative to the
Respondents and recommending further investigation on the matter. A more
comprehensive report dated 8 August 20128 containing additional information on
the Respondents was likewise sent by the IPSO later on. The IPSO also attached
in its referral letter a copy of the 16 July 2012 report, together with its annexes,9
prepared by the CMIC containing its own independent findings and conclusion
that the Respondents possibly violated Section 24(b)(iii) and SRC Rule 24.1 (b)1-4(iv) when it engaged in market manipulation practices such as hype and
dump, painting the tape and squeezing the float with respect to CAL shares for
the period of 23 May 2012 - 8 June 2012. CMIC, through its private investigator
Dun and Bradstreet ("O&B") 10 who visited the Respondents' declared residences,
also found that those visited did not have the financial capacity to fund these
trades,
7
A copy of the IPSO 4 July 2012 report is attached hereto as Annex "G" and made an
.
B
A copy of the IPSO 8 August 2012 report is attached hereto as Annex "H" and made an
integral part hereof,'
9
A copy of the CMIC 16 July 2012 report is attached hereto as Annex "I" and made an
.
10
A copy of the CMIC 20 July 2012 report containing the O&B reports is attached hereto as
Annex "J" and made an integral part hereof.
Complaint-Affidavit
SEC vs. Angeles, et at.
Page 8 of 78
23.
Thereafter, the EPD sent letters to the Philippine Stock Exchange
("PSE"), Securities Clearing Corporation of the Philippines ("SCCP") and CMIC
requesting for additional documents pertaining to the anomalous trading of CAL
shares.
24.
After examining the Respondents' Customer Account Information
Forms ("CAlFs") annexed to the CMIC reports, the EPD sent letters to various
Government
agencies
such
as
the
Land
Transportation
Office
("LTO"),
Commission on Elections ("COMELEC"), among others, to verify the authenticity
of the government issued IDs submitted by Respondents to the brokers along
with their CAlFs. Eventually, these Government agencies replied and confirmed
the authenticity of the IDs submitted by the Respondents and consequently, their
identities.l1
25.
From
mid-September
to until mid-November
2012,
the
EPD.
conducted conferences with the officers, associated persons and traders of the
Subject Brokers for purposes of clarifying matters concerning the anomalous
trading of CAL shares coursed through them by the Respondents.
Various
documents pertaining to these transactions were likewise requested from the
said brokers. During these conferences,
Respondents were identified to be
clients of the Subject Brokers and were confirmed to have issued either buy or
sell orders, through phone, or EO trades12 of CAL shares during the subject
period and even sometime thereafter. The buy orders were always paid for by
the Respondents within the prescribed period through deposits into the bank
account of the executing brokers. The sell orders of the Respondents were also
properly
substantiated
with sufficient
volumes
of CAL shares which were
provided to the selling brokers through multiple EO trades authorized by the
Respondents. Once these sell orders were consummated, the brokers would pay
the proceeds of these transactions through check which were either picked up or
received by or delivered to the representatives of the Respondimts,
namely
Respondents Ocampo, Eco, Sulit, Morfe and Sia; or deposited directly by the
broker to the bank accounts of the Respondents.
11
Copies of the various government agency ID certifications are attached as Annexes "K""K-13," respectively and made integral parts hereof.
.
12
EO trades refer to the transfer of shares of stock held by a beneficial.owner with one
broker to his account with another broker. This transfer is effected oniy through a request
authorization letter which the beneficial owner gives to the sending broker.
0011:".u
Complaint-Affidavit
Page 9 of 78
26.
On 17 October 2012, Notices of Conferences
were personally
served to the Respondents directing them to appear before the EPD on 25
October 2012. None of them showed up despite receipt of said notices and
instead, Respondents lsip, Vistan, Taboso and Zulueta sent their respective
affidavits containing denials of any wrongdoing.
27.
All told, the findings reached by the EPD through its investigation,
which are consistent with the reports made by IPSD and CMIC, lead to the
conclusion
that,
Respondents
buying and selling transactions
artificially
engaged
.in high-frequency,
high-volume
and several EO-trades for the purpose
raising the price of CAL shares which they eventually
on the market at a profit.
of
dumped
The details of these transactions per Respondent are
provided as follows: 13
RESPONDENT MICHAEL ANGELES' TRANSACTIONS
28.
Based on the documents and testimonies gathered, Respondent
Angeles transacted CAL shares during the subject period and even afterwards as
follows:
28.1.
Sometime in May 2012, Respondents Angeles and Zulueta
opened a joint account with Nieves Securities.14 Around this time,
Respondent
Angeles also opened his own client account with
Tower Securities.15
For Nieves Securities, Respondent Angeles
submitted his filled-up CAlFs and photocopies of their governmentissued photo IDs through Respondent Zulueta. Respondent Zulueta
also submitted his own CAlF for Nieves Securities which was also
signed by Respondent Angeles for purposes of opening their joint.
account.
For his account
with Tower
Securities,
Respondent
Angeles submitted his CAlF and photocopies of his governmentissued photo IDs through Respondent Dellosa.
13
Matrixes summarizing the Respondents transactions of CAL shares are attached hereto
as Annexes "L" - "L-2" and made integral parts hereof.
14
Copies of Respondent Angeles' and Zulueta's CAlFs with copies of their government
issued IDs submitted to Nieves Securities are attached hereto as Annexes "M" and "N,"
respectively and made integral parts hereof.
15
A copy of Respondent Angeles' CAlF with copies of his government issued IDs submitted
to Tower Securities is attached hereto as Annex "0" and made an integral part hereof.
0011,1, '1
Complaint-Affidavit
Page 10 of 78
28.2.
Through a letter dated 28 May 2012,16 Respondent Angeles
transferred, via EO trade, 2,440,000 CAL shares from Unicapital
Securities into his account with Tower Securities.
28.3.
On 30 May 2012, Respondent Angeles, through Tower
Securities, made sell orders throughout the day for a total of
1,900,000
CAL
shares
amounting
to P25,897,338.25.
Tower
Securities issued in favor of Respondent Angeles, a Banco De Oro
("BOO") check dated 4 June 201217 as payment for this said
amount. This check was picked up by Respondent Eco on behalf of
Respondent Angeles, along with the check vo'ucher18 anddelivery
receipts 19 covering
the
transaction,
and
was
deposited
into
Respondent Angeles' BOO bank account # 6848004702.
28.4.
On 31 May 2012, Respondent Angeles, through Tower
540,000 CAL shares amounting to P7,898,305.28. Tower Securities
issued in favor of Respondent Angeles, a BOO check dated 5 June
20
2012
as payment for this said amount. This check was picked up
by Respondent Ocampo on behalf of Respondent Angeles, along
and delivery receipts22
with the check vouche~l
transaction,
covering the
and was deposited into Respondent Angeles' BOO
bank account # 6848004702.
28.5.
. On 1 June 2012, Respondents Angeles and Zuiueta, through
their joint
account
with
Nieves
Securities,
made
buy orders
throughout the day for a total of 5,542,700 CAL shares amounting
to P121 ,528,750.00.
They paid for these buy orders through
depositing a Banco de Oro ("BOO") check on 6 June 2012 for the
said amount and deposited the same into Nieves Securities' BOO
16
A copy of the 28 May 2012 letter is attached hereto as Annex "P" and made an integral
p,art hereof.
.
7
A copy of the check dated 4 June 2012 is attached hereto as Annex "0" and made an
'6
A copy of the check voucher is attached hereto as Annex "0-1" and made an integral part
hereof.
19
Copies of the delivery receipts are attached hereto as Annexes "0-2" and "0-3,"
20
A copy of the check dated 5 June 2012 Is attached hereto as Annex "R" and made an
integral. part hereof.
21
A copy of the check voucher is attached hereto as Annex "R-1" and made an Integral part'
hereof.
22
Copies of the delivery receipts are attached hereto as Annexes "R-2" and "R-3,"
respectively and made integrai parts hereof.
00111:3
Complaint-Affidavit
SEC VS. Angeles, et a/.
Page 11 of 78
bank account. Nieves Securities issued a Receipr3and Purchase
24
Invoices
covering this transaction which were received by
Respondent Ocampo.
28.6.
Through a letter dated 4 June 2012,25 Respondent Zulueta
transferred,
via
EO
trade,
6,424,300
CAL
shares
from
Sunsecurities into his joint account with Respondent Angeles at
.
Nieves Securities. The Stock Debit Memo reflecting this transfer
was received by Respondent Morfe.26
28.7.
On 4 June 2012, Respondent Angeles and Respondent
Zulueta, through their joint account with Nieves Securities, made
sell orders throughout the day for a total of 8,896,400 CAL shares
amounting to P187,536,324.46. Nieves SecLJrities issued in favor of
Respondents Angeles and Zulueta, a BOO check. dated 7 June
27
2012 as payment for this said amount. This check was picked up
or received by an unidentified person on behalf of Respondents
Angeles and Zulueta and was deposited into Respondent Angeles'
BOO bank account # 6848004702.
Nieves Securities
issued a
Check vouche~8 reflecting the check payment and Sales invoices29
covering these transactions.
28.8.
Through a letter dated 7 June 2012,30 Respondent Angeles
transferred,31 via EO trade,32 2,970,600 CAL shares from Nieves
Securities into his client account with Tower Securities.
A copy of the receipt dated 6 June 2012 is attached hereto as Annex "5" and made an
24
Copies of the Purchases Invoices are attached hereto as Annexes "5-1" - "5-3,"
2S
A copy of the 4 June 2012 letter is attached hereto as Annex 'T' and made an integral
gart hereof.
6
A copy of the Stock Debit Memo is attached hereto as Annex 'T -1" and made an integral
gart hereof.
7
A copy of the check dated 7 June 2012 is attached hereto as Annex "U" and made an
26
A copy of the Check voucher is attached hereto as Annex "U-1" and made an integral
gart hereof.
9
Copies of the Sales invoices are attached hereto as Annexes "U-2" to "U-17,"
30
A copy of the 7 June 2012 letter is attached hereto as Annex "V" and made an integrai
part hereof..
,
1
A copy of the Stock debit memo is attached hereto as Annex "V-1" and made an integral
gart hereof.
2
Copies of the' PDTC clearing and settlement log are attached hereto as Annexes "V-2"
and "V-3," respectively and made integral parts hereof.
23
001112
Complaint-Affidavit
SEC VS. Angeles, et at.
Page 12 of 78
28.9.
On 7 June 2012, Respondent
Angeles,
through
Tower
issued in favor of Respondent Angeles, a BOO check dated 13
33
June 2012
as payment for this said amount. This check was
directly deposited into Respondent Angeles' BOO bank account #
6848004702 by Tower Securities. Respondent Sulit received the
delivery receipts covering the transaction on behalf of Respondent
Angeles.
28.10.
Securities,
Angeles,
through
Tower
made sell orders throughout the day for a total of
805,000 CAL shares amounting to P9,61 0,087.55. Tower Securities
issued in favor of Respondent Angeles, a BOO check dated 14
June 2012 as payment for this saidamount.34
35
directly deposited
6848004702
delivery
This check was
into Respondent Angeles' BOO bank account #
by Tower
receipts36
Securities.
covering
the
Respondent
transaction
Sulit
on
received
behalf
of
Respondent Angeles.
28.11.
On 13 June 2012, Respondent Angeles, through Tower
Securities,
1,397,500
CAL
shares
amounting
to P18,642,548.02.
Tower
Securities issued in favor of Respondent Angeles, a BOO check
dated 18 June 201237 as payment for this said amount.38 This
check was directly deposited39
bank account # 6848004702
into Respondent Angeles'
BOO
by Tower Securities. Tower also
issued delivery receipts40 covering the transactions.
33
A copy of the check dated 7 June 2012 is attached hereto as Annex 'Woo and made an
.
34
A copy of the check voucher is attached hereto as Annex 'W-1" and made an integral
roart hereof.
.
5
A copy of the deposit slip is attached hereto as Annex 'W-Z' and made an integral part
hereof.
36
Copies of the delivery receipts are attached hereto as Annexes 'W-3" and 'W-4."
37
A copy of the check dated 8 June 2012 is attached hereto as Annex "X" and made an
..
38
A copy of the check voucher is attached hereto as Annex "X-1" and made an integral part
hereof .
39
A copy of the deposit slip is attached hereto as Ar:mex "X-2" and made an integral part
hereof.
40
Copies of the delivery receipts are attached hereto as Annexes "X-3" and "X-4."
Complaint-Affidavit
SEC vs. Ange/es. et a/.
Page 13 of 78
29.
For the orders given to Nieves Securities, Respondent Zulueta
would call the house traders of
Nieves Securities, Thomson Brian Phoa and
Amelie Colobong, and give the orders for the joint account with Respondent
41
Angeles.
For the sell orders given to Tower Securities, Respondent Angeles
would call Bruce Sio, a salesman of Tower Securities, to give his sell orders.42
These orders were then executed by the brokers' respective house traders
and/or salesman.
RESPONDENT CARMELO BUNAG'S TRANSACTIONS
30.
Bunag transacted CAL shares during the subject period and even afterwards as
follows:
30.1.
Sometime in May 2012, Respondent Bunag opened client
accounts
with
Sunsecurities,43
Securities45 and Venture
Nieves Securities,44 Tower
Securities.46 For all these brokers,
Respondent Bunag submitted his filled-up CAlFs and photocopies
of his government-issued photo IDs. However, for his account with
Sunsecurities, he submitted these documents through Respondent
Zulueta,47 whereas
for Tower Securities, he submitted them
through Respondent Oellosa.48 For Nieves Securities, he submitted
his documents through Respondent Martin.49
30.2.
Through a letter dated 28 May 2012,50 Respondent Bunag
transferred, via EQ trade,51 2,440,000 CAL shares from Unicapital
Securities into his account with Tower Securities ..
4'
See Annex "QQQQQQQ".
See Annex "RRRRRRRR".
A copy of Respondent Bunag's Sun securities CAlF with copies of his government issued
IDs is attached hereto as Annex 'z' and made an integral part hereof.
44
A copy of Respondent Bunag's Nieves Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "Z-1" and made an integral part hereof.
45
A copy of Respondent A Bunag's Tower Securities CAlF with copies of his government
46
A copy of Respondent Bunag's Venture Securities CAlF with copies of his government
47
See Annex "0000000".
4'
See Annex "RRRRRRR"
49
See Annex "PPPPPPP"
50
A copy of the letter dated 29 May 2012 is attached hereto as Annex "AA" and made an
51
A copy of the Stock credit memo is attached hereto as Annex "A-1" and made.an integral
part hereof.
42
0011.10
SEC
Complaint-Affidavit
VS. Ange/es, et a/.
Page 14 of 78
30.3.
On 29 May 2012,
Respondent
8unag,
through
Tower
2,184,800
CAL
shares
amounting
to
P24, 181,494.52.
Tower
Securities issued in favor of Respondent Bunag, a BOO check
dated 1 June 201252 as payment for this said amount. This check,
along with the check voucher3 and delivery receipts54 covering the
transaction, were received by Respondent Ocampo and deposited
into
Respondent
Bunag's
unidentified
bank
account
with
Metrobank, Plaridel, Bulacan branch.
30.4.
On 30 May 2012, Respondent Bunag, through his account
with Sunsecurities, made buy orders throughout the day for a total
of 4,085,600 CAL shares amounting to P54,173,133.83. He paid for
these buy orders through depositing BOO (Pulilan, Bulacan branch)
check no. 153013 on 1 June 201255 for the said amount into
Sunsecurities' BOO bank account. Sunsecurities issued a Receipt56
and Purchase Invoices57 covering these transactions which were
received by Respondent Ocampo.
30.5.
On 30 May 2012, Respondent Bunag, through his account
with Nieves Securities, made buy orders throughout the day for a
total of 38,100 CAL shares amounting to P497,426.29. He paid for
these buy orders through an unidentified BOO check on 4 June
2012 for the said amount and deposited the same into Nieves
Securities' BOO bank account. Nieves Securities issued a Receipt58
covering this transaction.
A copy of the check dated 1 June 2012 is attached hereto as Annex "SS" and made an
53
A copy of the check voucher is attached hereto as Annex "S8-1" and made an integral
52
~~~
.
Copies of the delivery receipts are attached hereto as Annexes "SS-2" to "88-3,"
55
A copy of the Deposit slip dated 1 June 2012 is attached hereto as Annex "CC" and
made an integrai part hereof.
56
A copy of the Receipt is attached hereto as Annex "CC-1" and made an integral part
hereof.
57
Copies of the Purchase invoices are attached hereto as Annexes "CC-2" to "CC-9,"
58
A copy of the Receipt is attached hereto as Annex "DO" and made an integral part
hereof.
4
001 I:Li
Complaint-Affidavit
SEC vs. Angeles, et at.
Page 15 of 78
30.6.
Through a letter dated 31 May 2012,59 Respondent Bunag
transferred,6o
via
EQ
trade,
1,639,600
CAL
shares
from
Sunsecurities into his account with Nieves Securities. The Stock
Debit Memo covering this transfer was received by Respondent
Morfe.61
30.7.
Through another letter dated 31 May 2012,62 Respondent
Bunag transferred,
via EQ trade, 1,431,100 CAL shares from
Sunsecurities into his account with Venture Securities. The Stock
Debit Mem063 covering this transfer was received by Respondent
Morfe.
30.8.
On 31 May 2012, Respondent
Bunag, through
Nieves
Securities,
1,677,700
CAL shares
amounting
to P28,218,163.34.
Nieves
dated 5 June 201264 as payment for this said amount. This check
and the check voucher65 were picked-up by an unidentified person
and deposited into Respondent Bunag's BOO bank account #
6848004699. The Sales invoices66 covering this transaction was
received by Respondent Bunag.
30.9.
Bunag, through
Venture
Securities, . made sell orders throughout the day for a total of
1,431,100
CAL shares amounting
t6 P23,602,788.14.
Venture
59
A copy of the letter dated 31 May 2012 is attached hereto as Annex "EE" and made an
.
60
Copies of the PDTC clearing and settlement logs are attached hereto as Annexes "EE-1"
and "EE-2," respectively.
61
A copy"of the Stock Debit Memo is attached hereto as Annex "EE-3" and made an
62
A copy of the letter dated 31 May 2012 is attached hereto as Annex. "FF" and made an
integral part hereof..
63
A copy of the Stock Debit Memo is attached hereto as Annex "FF-1" and made an
64
A copy of the check dated 5 June 2012 is attached hereto as Annex "GG" and made an
65
A copy of the check voucher is attached hereto as Annex "GG-1"and made an integral
eart hereof.
6
Copies of the Sales invoices are attached hereto as Annexes "GG-2" to "GG-5" and
made an integral part hereof.
67
A copy of the check dated 5 June 2012 is attached hereto as Annex "HH-4" and made an
00113J
Complaint-Affidavit
Page 16 of 78
and the check voucher68 were picked-up by Respondent Ocampo
and deposited into Respondent Bunag's BOO bank account #
6848004699.
The
confirmation
invoices69
covering
these
transactions were likewise issued by Venture Securities.
30.10.
On
Securities,
1 June
2012,
Respondent 8unag,
through
Tower
issued in favor of Respondent Bunag, a BOO check dated 6 June
70
2012
as payment for this said amount. The check and check
voucher71 were received by Respondent Ocampo and deposited
into Respondent Bunag's BOO bank account # 6848004699. The
delivery
72
receipt
covering
this
transaction
was
received
by
Respondent Eco.
30.11.
Through a letter dated 5 June 2012,73 Respondent Bunag
transferred, via EO trade, 635,000 CAL shares from Sunsecurities
into his account with PCCI Securities. The Stock Debit Mem074
covering this transfer was received by Respondent Morle.
30.12.
On 6 June 2012, Respondent Bunag, through Sunsecurities,
made sell orders throughout the day for a total of 379,900 CAL
shares amounting to P3,789,405.32. Sunsecurities issued in favor
of Respondent Bunag, a BOO check dated 11 June 2012 as
payment for this said amount. This check was directly deposited
into Respondent Bunag's BOO bank account # 6848004699
75
Sunsecurities. Respondent Morle received the check voucher
.8
by
and
A copy of the check voucher is attached hereto as Annex "HH" and made an integral part
hereof.
••
Copies of the confirmation invoices are attached hereto as Annexes "HH-1" to "HH-3" and
made integral parts hereof.
70
A copy of the check dated 6 June 2012 is attached hereto as Annex "II" and made an
71
A copy of the check voucher is attached hereto as Annex "11-1"and made an integral part
hereof.
72
A copy of the delivery receipt is attached hereto as Annex "11-2"and made an integral part
hereof.
73
A copy of the letter dated 5 June 2012 is attached hereto as Annex "JJ" and made an
74
A copy of the check Stock debit memo is attached hereto as Annex "JJ-1" and made an
75
A copy of the check voucher is attached hereto as Annex "KK" and made an integral part
hereof.
Complaint-Affidavit
Page 17 of 78
•
Respondent Ocampo received the selling invoice76 covering the
transaction on behalf of Respondent Bunag.
30.13.
On 7 June 2012, Respondent Bunag, through his account
total of 2,677,800 CAL shares amounting to P30,938,889.23.
He
paid for these buy orders through an unidentified BOO check on 13
. June 2012 for the said amount and deposited the same into Nieves
Securities' BOO bank account. Nieves Securities issued Purchase
invoices77 and a Receipt 7Bcovering these transactions which were
received by Respondent Bunag ..
30.14.
On 7 June 2012, Respondent Bunag, through Sunsecurities,
shares amounting to P233,341.92. Sunsecurities issued in favor of
Respondent Bunag, a BOO check dated 13 June 2012 as payment
for this said amount.79 This check was directly depositedBO into
Respondent
Bunag's
BOO bank account # 6848004699 by
Sunsecurities. The Sell invoiceB1 covering these transactions was
received by Respondent Morfe on behalf of Respondent Bunag.
30.15.
On 8 June 2012, Respondent Bunag, through his account
He
paid for these buy orders through an unidentified BOO check dated
14 June 2012 for the said amount deposited into Nieves Securities'
BOO bank account. Nieves Securities issued Purchase InvoicesB2
76
A copy of the selling invoice is attached hereto as Annex "KK-1" and made an integral
~art hereof.
.
7
Copies of the Purchase invoices are attached hereto as Annexes "LL"- "LL -4" and made
integral parts hereof.
7B
A copy of the Receipt is attached hereto as Annex "LL -5" and made an integral part
hereof.
79
A copy of the check voucher is attached hereto as Annex "MM" and made an integral part
hereof.
eo
A copy of the deposit slip is attached hereto as Annex "MM-.1" and made an integral part
hereof.
8'
A copy of selling invoice is attached hereto as Annex "MM-2" .and made an integral part
hereof.
82
Copies of the Purchase invoices are attached hereto as Annexes "NN" - "NN-T' and made
Complaint-Affidavit
SEC vs. Angeles, et al.
Page 18 of 78
,
and a Receipr'3 covering these transactions which were received
by Respondent Bunag.
30.16.
Bunag, through
Nieves
1,567,900
CAL shares
amounting
to P25,616,835.86.
Nieves
dated 19 June 201284 as payment for this said amount.85 This
check was directly deposited86 into Respondent Bunag's BOO bank
account # 6848004699 by Niev~s Securities. The Sales invoices87
covering these transactions were received by Respondent Bunag.
30.17.
On 18 June 2012,
Respondent
Bunag, through
Nieves
Securities,
1,899,800
CAL shares
amounting
to P21, 181,921.35.
Nieves
dated 21 June 201288 as payment. for this said amount.89 This
check was directly deposited90 into Respondent Bunag's BOO bank
account # 6848004699 by Nieves Securities.
30.18.
On 19 June 2012,
Respondent
Bunag, through
Nieves
Securities,
1,065,000
CAL shares
amounting
to P13,251,409.83.
Nieves
was directly deposited into Respondent Bunag's BOO bank account
# 6848004699 by Nieves Securities.
83
A copy of the Receipt is attached hereto as Annex "NN-8" and made an integral part
hereof
84
85
A copy of the check voucher is attached hereto as Annex "00-1" and made an integral
r,art hereof.
S
A copy of the deposit siip is attached hereto as Annex "00-2" and made an integral part
hereof.
87
Copies of the Sales invoices are attached hereto as Annexes "00-3"- "00-16" and made
88
A copy of the check dated 21 June 2012 is attached hereto as Annex "PP" and made an
.
B9
A copy of the check voucher is attached hereto as Annex "PP-l" and made an integral
rcart hereof.
o
A copy of the deposit siip is attached hereto as Annex "PP-2" and made an integral part
hereof.
A copy of the check dated 22 June 2012 is attached hereto as Annex "QQ" and made an
"
SEC
0011::3::;
Complaint-Affidavit
VS. Angeles, et a/.
Page 19 of 78
,
31.
Except for the orders given to Sunsecurities, Respondent Bunag
would call the house traders of Nieves Securities, Thomson Brian Phoa and
Amelie Colobong,92 the salesman handling his account with Tower Securities,
Bruce Sio,93 and the team handling his account in Venture Securities, Aristotle
Reyes, Jr. and Loreto Balabis,94 to give his buy and sell orders for CAL shares.
For Sunsecurities, his orders were made through Respondent Zulueta who would
call the salesman handling Respondent Bunag's account, Davidson Yeh, and
give the orders on behalf of Respondent Bunag.95 These orders were then
executed by the brokers' respective house traders and/or salesman.
RESPONDENT ARNOLD DELLOSA'S TRANSACTIONS
32.
Dellosa transacted CAL shares during the subject period and even afterwards as
follows:
32.1.
Sometime in May 2012, Respondent Dellosa opened client
accounts
with Nieves Securities,96 Tower Securities,97 HDI
Securities96 and Unicapital Securities.99 For all these brokers,
Respondent Dellosa submitted his filled-up CAlFs and photocopies
of his government-issued
photo IDs. Additionally, for his account
with Nieves Securities he submitted these documents
through
Respondent Martin,100 whereas for Tower Securities, Respondent
Dellosa personally walked in to the office of Tower Securities and
submitted his CAlF as well as Respondents Angeles, Bunag, Isip,
Martin and Vistan.101
32.2.
On 23 May 2012, Respondent Dellosa, through his account
with Tower Securities, made buy orders throughout the day for a
92
93
94
95
95
issued
97
issued
9.
issued
99
issued
100
101
See Annex "RRRRRRR".
See Annexes "SSSSSSS" and "I I I I I I I'.
See Annexes "0000000".
A copy of Respondent Dellosa's Nieves Securities CAlF with copies of his government
IDs is attached hereto as Annex "RR" and made an integral part hereof.
A copy of Respondent Dellosa's Tower Securities CAiF with copies of his government
IDs is attached hereto as Annex "RR-1" and made an integral part hereof.
A copy of Respondent Dellosa's HOI Securities CAlF with copies of his government
A copy of Respondent Dellosa's Unicapital Securities CAlF with copies of his government
See Annex "PPPPPPP".
.
.
SEC
Complaint-Affidavit
VS. Ange/es, et a/.
Page 20 of 78
total of 300,000 CAL shares amounting to P2,257,906.24. Delivery
receipts 102covering this transaction were received by Respondent
Ocampo. However, since he had more sell orders for CAL shares
or a "net-sell" for the three succeeding working days thereafter
("T+3"), he did not have to pay for the said buy orders.
32.3.
total of 320,100 CAL shares amounting to P2,543,070. Delivery
receipts 103covering this transaction were received by Respondent
Eco. However, since he had more sell orders for CAL shares or a .
"net-sell" for the three succeeding working days thereafter ("T+3"),
he did not have to pay for the said buy orders.
32.4.
Securities,
Dellosa, through Tower
issued in favor of Respondent Dellosa, a BOO check dated 30 May
104
2012
for the amount of P1,379,422.26 representing the partial
net-sell amount of CAL shares for the period of 23-28 May 2012.105
This check was directly deposited'06 into Respondent Dellosa's
BOO bank account # 5648006896 by Tower Securities.
32.5.
Through a letter dated 28 May 2012,107Respondent Dellosa
transferred, via EQ trade,10B2,440,000 CAL shares from Unicapital
32.6.
total of 153,000 CAL shares amounting
to P1,442,442.69.
A
102
Copies of the delivery receipts are attached hereto as Annexes "55" and "55-1,"
103
Copies of the delivery receipts are attached hereto as Annexes "TT" and "TT-1,"
.
104
A copy of the check dated 30 May 2012 is attached hereto as Annex "UU" and made an
105
A copy of the check voucher is attached hereto as Annex "UU-1" and made an integral
p,art hereof.
06
A copy of the deposit slip is attached hereto as Annex "UU-2" and made an integral part
hereof.
107
A copy of the letter dated 28 May 2012 is attached hereto as Annex "VV" and made an
106
A copy of the 5tock credit memo is attached hereto as Annex 'W-1" and made an
00113;]
SEC
Complaint-Affidavit
VS. Angeles, et at.
Page 21 of 78
Delivery'receipt109
covering
this transaction
was
received
by
Respondent Eco. However, since he had more sell orders for CAL
shares or a "net-sell" for the three succeeding
working days
thereafter ("T+3"), he did not have to pay for the said buy orders.
32.7.
Dellosa, through
Tower
1,140,500
CAL
shares
amounting
to P19,020,650.04.
Tower
Securities issued in favor of Respondent Dellosa, a BOO check
dated 5 June 201i10
voucher
111
covering this amount. This check, check
and the delivery receipe
12
covering the transaction were
received by Respondent Ocampo on behalf of Respondent Dellosa.
32.8.
Dellosa, through
Tower
Securities,
made sell. orders throughout the day for a total of
1,567,400
CAL shares
amounting
to P32,141,517.21 .. Tower
dated 6 June 2012113 covering this amount. This check, check
voucher"4
and the delivery receipt115 covering the transaction were
received by Respondent Ocampo on behalf of Respondent Dellosa.
32.9.
On 4 June 2012, Respondent Dellosa, through his account
total of 10,593,200 CAL shares amounting to P203,482,949.74. He
June 2012 for the said amount and deposited the same into Nieves
Securities' BOO bank account. Nieves Securities issued Purchase'
invoices"6
and a Receipt"7
covering these transactions
which
were received by Respondent Dellosa.
109
A copy of the delivery receipt is attached hereto as Annex 'WW" and made an integral
p.art hereof.
'0
A copy of the check dated 5 June 2012 is attached hereto as Annex "XX" and made an
'"
A copy of the check voucher is attached hereto as Annex "XX-1" and made an integral
p.art hereof.
12
A copy of the delivery receipt is attached hereto as Annex "XX-2" and made an integral
Dart hereof.
.
"3
.
A copy of the check dated 6 June 2012 attached hereto as Annex ''YY'' and made an
114
A copy of the check voucher is attached hereto as Annex ''YY-1'' and made an integral
p,art hereof.
15
A copy of the delivery receipt is attached hereto as Annex ''YY-2'' and made an integral
p.art hereof.
.
'6
Copies of the Purchase invoices are attached hereto as Annexes •.zz" and "ZZ-23,"
0011')':;
l.) {.,.I
SEC
Complaint-Affidavit
VS. Angeles, et al.
Page 22 of 78
32.10.
Dellosa, through
Nieves
Securities, also made sell orders throughout the day for a total of
685,000 CAL shares amounting to P15,661,443.80.118 However,
since he had more buy orders for CAL shares or a "net-buy" for the
day he did not receive a check for the said sell orders.
32.11.
Dellosa, through
Nieves
4,364,900 CAL
shares
amounting
to P72,670,608.55.
Nieves
Securities issued in favor of Respondent Dellosa, a BDO check
dated 8 June 2012'19 covering this amount. The check and check
120
voucher
were piCked up or received by an unidentified person
and deposited to Respondent
5648006896.
Dellosa's BDO bank account #
The Sales invoices 121covering these transactions
32.12.
Dellosa,
through
Tower
1,421,600
CAL
shares
amounting
to P24,838,354.60.
Tower
dated 8 June 2012'22 covering this amount. This check was directly
deposited'23 into Respondent
5648006896
Dellosa's
by Tower Securities.
BDO bank account
#
The' check voucher'24 and
delivery receipts 125covering these transactions were received by
Respondent Eco on behalf of Respondent Dellosa.
117
A copy of the receipt is attached hereto as Annex "ZZ-24" and made an integral part
hereof.
118
Copies of the Sales invoices are attached hereto as Annexes "AM" to "AM-1."
119
120
A copy of the check voucher is attached hereto as Annex "888-1" and made'an integral
p,art hereof.
21
Copies of the Sales invoices are attached hereto as Annexes "888-2" to "888-28,"
122
A copy of the check dated 8 June 2012 is attached hereto as Annex "CCC" and made an
123
A copy of the deposit slip is attached hereto as Annex "CCC,l" and made an integral part
hereof.
124
A copy of the check voucher is attached hereto as Annex "CCC-2" and made an integral
p,art hereof.
25
Copies of the delivery receipts are attached hereto as Annexes "CCC-S" to "CCC-7,"
001131
SEC
VS. Ange/es, et at.
Page 23 of 78
32.13.
Through a leiter dated 6 June 2012,126Respondent Dellosa
transferred, via EO trade,127 1,421,600 CAL shares from Nieves
32.14.
Dellosa, through
Nieves
1,635,200
CAL shares
amounting
to P17,438,250.28.
Nieves
Securities issued in favor of Respondent Dellosa, a BDO check
dated 11 June 2012128covering this amount. The check and check
129
voucher
were picked up or received by an u~identified person
and deposited to Respondent
5648006896.
Dellosa's BDO bank account #
The Sales invoices 130covering these transactions
32.15.
Through a leiter dated 7 June 2012,131Respondent Dellosa
Securities into his account with HDI Securities.
32.16.
On
7 June
2012,
Respondent
Dellosa,
through
HDI
602,800 CAL shares amounting to P6,712,978,43. HDI Securities
issued in favor of Respondent Dellosa, a BDO check dated 13 June
133
2012
covering this amount. This check was directly deposited134
into Respondent Dellosa's BDO bank account # 5648006896 by
HDI Securities per Respondent Dellosa's e-mail dated 13 June
2012 to May Magistrado of HDI Securities containing the instruction
to deposit all checks due him to his BDO bank account. HDI
126
A copy of the
127
A copy of the
128
A copy of the
129
A copy of the
~~~.
letter dated 6 June 2012 is attached hereto as Annex "DOD" and made an
Stock credit memo is attached hereto as Annex "000-1"
and made an
check dated 11 June 2012 is attached hereto as Annex "EEE" and made an
check voucher is attached hereto as Annex "EEE-1" and made an integral
.
.
Copies of the Sales invoices are attached hereto as Annexes "EEE-2" to "EEE-3."
131
A copy of the letter dated 7 June 2012 is attached hereto as Annex "FFP' and made an
132
Copies of the PDTC clearing and settlement logs are attached hereto as Annexes "FFF1" and "FFF-2." respectively and made integral parts hereof.
.
133
A copy of the check dated 13 June 2012 is attached hereto as Annex "GGG" and made
an integral part hereof.
134
A copy of the deposit slip is attached hereto as Annex "GGG-1" and made an integral
part hereof.
30
SEC
001130
Compiaint-Affidavit
VS. Ange/es. et a/.
Page 24 of 78
Securities
also
issued
a check
voucher'35 and
confirmation
receipts 136covering these transactions.
32.17.
On
8 June
2012,
Respondent
Oellosa,
through
HOI
925,000 CAL shares amounting to P10,978,368.07. HOI Securities
issued in favor of Respondent Oellosa, a BOO check dated 14 June
137
2012
covering this amount. This check was directly deposited138
into Respondent Oellosa's BOO bank account # 5648006896 by
HOI Securities. HOI Securities also issued a check voucher139 and
confirmation receipts 140covering these transactions.
32.18.
On
Securities,
13 June
2012,
Respondent
Oellosa,
through
HOI
issued in favor of Respondent Oellosa, a BOO check dated 18 June
2012'41 covering this amount. This check was directly deposited142
into Respondent Oellosa's BOO bank account # 5648006896 by
HOI Securities. HOI Securities also issued a check voucher143 and
confirmation receipts 144covering these transactions.
33.
For his orders, Respondent Oellosa would call the house traders of
Nieves Securities, Thomson Brian Phoa and Amelie Colobong,'45 the salesman
handling his account with Tower Securities, Bruce Sio,'46 and the salesman
handling his account in HOI Securities, Aldrich Sevilla, to give his buy and sell
orders for CAL shares. However, he would also call Tower Securities to give the
135
A copy of the check voucher is attached hereto as Annex "GGG-2" and made an integral
p,art hereof.
36
Copies of the confinmation receipts are attached hereto as Annexes "GGG-3" to "GGG-5."
137
A copy of the check dated 14 June 2012 is attached hereto as Annex "HHH" and made
138
A copy of the deposit slip is attached hereto as Annex "HHH-1" and made an integral part
hereof.
139
A copy of the check voucher is attached hereto as Annex "HHH-2" and made an integral
p,art hereof.
40
Copies of the confinmation receipts are attached hereto as Annexes "HHH-3" to "HHH-5,"
141
A copy'of the check dated 18 June 2012 is attached hereto as Annex "III" and made an
142
A copy of the deposit slip is attached hereto as Annex "111-1" and made an integral part
hereof.
143
A copy of the check voucher is attached hereto as Annex "111-2" and made an integral part
hereof.
144
Copies of the confinmation receipts are attached hereto as Annexes "111-3" to "111-4,"
145
See Annex "aaaaaaa".
146
SEC
00112J
Complaint-Affidavit
VS. Angeles, et al.
Page 25 of 78
sell orders of Respondents Isip and Martin for their CAL shares.147All these
orders were then executed by the brokers' respective house traders and/or
salesman.
RESPONDENT RICHIE ISIP'S TRANSACTIONS
34.
•
Isip transacted CAL shares during the subject period and even afterwards as
follows:
34.1.
Sometime in May 2012; Respondent Isip opened client
accounts with Sunsecurities,l48 Nieves Securities,149 Tower
Securities,150 HOI
Securities,151 Venture Securities152 and
Unicapital Securities.153For all these brokers, Respondent Isip
submitted his filled-up CAlFs and photocopies of his governmentissued photo IDs. Additionally, for his account with Sunsecurities,
he submitted these documents through Respondent Zulueta;154for
Tower
Securities he
submitted these
documents through
Respondent Oellosa;155 and' for Nieves Securities,156 these
documents were submitted through RespondentMartin.
34.2.
Through a letter dated 7 May 2012,157Respondent Isip
transferred, via EQ trade, 9,500,000 CAL shares from the
Philippine Depository and Trust Corporation ("POTC") into his
account with Unicapital Securities. The In receipe58 reflecting this
transfer was sent by Respondent Eco.
147
Ibid.
A copy of Respondent Isip's Sunsecurities CAlF with copies of his government issued
IDs is attached hereto as Annex "'JJJ" and made an integral part hereof.
149
A copy of Respondentlsip's Nieves Securities CAlF with copies of his govemmentissued
IDs is attached hereto as Annex "'JJJ-1"' and made an integral part hereof.
150
A copy of Respondent Isip's Tower Securities CAlF with copies of his government issued
IDs is attached hereto as Annex "'JJJ-2"' and made an integral part hereof.
151
A copy of Respondent Isip's HOI Securities CAlF with copies of his government issued
IDs is attached hereto as Annex"'JJJ-3"' and made an integral part hereof.
152
A copy of Respondent Isip's Venture Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "'JJJ-4"' and made an integral part hereof.
153
A copy of Respondent Isip's Unicapital Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "JJJ-5"' and made an integral part hereof.
154
See Annex "'0000000"'.
155
See Annex "'RRRRRRR"'.
156
See Annex "'PPPPPPP"'.
157
A
copy of the letter dated 7 May 2012 is attached hereto as Annex "KKK"' and made an
.
.
15'
A copy of the In receipt is attached hereto as Annex "'KKK-1"' and made an integral part
hereof.
148
SEC
Complaint-Affidavit
VS. Angeles, er at.
Page 26 of 78
.
,
34.3.
On 28 May 2012, Respondent Isip, through his account with
Sunsecurities, made buy orders throughout the day for a total of
1,466,700 CAL shares amounting to P13,874,473.90. He paid for
these buy orders through BOO (Pulilan Bulacan branch) check no.
153006
on
31
May
2012
by depositing'59
the
same
into
Sunsecurities' BOO bank account. Sunsecurities issued a receipt'60
and Buy invoices 161 covering. these transactions. which
were
received by Respondent Ocampo on behalf of Respondent Isip.
34.4.
Sunsecurities, made buy orders throughout the day for a total of
153011 on 1 June 2012 and the deposited'62
the same into
Sunsecurities' BOO bank account. Sunsecurities issued a receipt'63
and
Buy invoices 164 covering
these
transactions
which
were
received by Respondent Ocampo on behalf of Respondent Isip.
34.5.
Nieves Securities, made buy orders throughout the day for a total of
557,400 CAL shares amounting to P5,255,217.29.
He paid for
these buy orders through an unidentified BOO check on 31 May
Securities'
Purchase
BOO
bank
account.
Invoice 165 and receipt'66
Nieves
Securities
issued
a
covering these transactions
which were received by Respondent Isip.
159
A copy of the Deposit slip dated 31 May 2012 is attached hereto as Annex "LLL" and
made an integral part hereof ..
160
A copy of the receipt is attached hereto as Annex "LLL-1" and made an integral part
hereof.
161
Copies of the buy invoices are attached hereto as Annexes "LLL-2"to "LLL-6,"
162
A copy of the Deposit slip dated 1 June 2012 is attached hereto as Annex "MMM" and
163
A copy of the receipt is attached hereto as Annex "MMM-1" and made an integral part
hereof.
164
Copies of the buy invoices are attached hereto as Annexes "MMM-2" to "MMM-8,"
165
A copy of the Purchase invoice dated 28 May 2012 is attached hereto as Annex "NNN"
and made an integral part hereof.
166
A copy of the receipt is attached hereto as Annex "NNN-1" and made an integral part
hereof.
00112'/
Complaint-Affidavit
Page 27 of 78
34.6.
On 29 May 2012, Respondent isip, through his account with
Nieves Securities, made buy orders throughout the day for a total of
these buy orders through an unidentified BOO check on 1 June
Securities' BOO bank account. Nieves Securities issued a receipe67
and Purchase invoices 168covering these transactions which were
received by Respondent Isip.
34.7.
Through a letter dated 30 May 2012,169 Respondent
transferred,
via
EO
trade,
1,295,000
CAL
shares
Isip
from
Sunsecurities into his account with Venture Securities. The Stock
debit
memo 170 covering
this
transaction
was
received
by
Respondent Ocampo on behalf of Respondent Isip.
34.8.
On
30
May
2012,
Respondent
Isip, .through
Nieves
3,060,500
CAL
shares
amounting
to
P40,519,964.
Nieves
Securities issued in favor of Respondent Isip, a BOO check dated 4
June 2012171 covering this amount. The check and check
voucher172 was picked up or received by an unidentified person and
deposited at BOO Pulilan, Bulacan branch into Respondent Isip's
BOO bank account # 6848004621. The Sales invoices173 covering
these transactions were likewise received by Respondent Isip.
34.9.
On
Securities,
30
May 2012,
Respondent
Isip, through
Venture
1,295,000 CAL shares amounting
to P17,926,597.43.
Venture
Securities issued in favor of Respondent Isip, a BPO .check dated 4
167
A copy of the receipt is attached hereto as Annex "000"
and made an integral part
hereof.
166
Copies of the Purchase invoices are attached hereto as Annexes "000-1" to "000-4,"
.
169
A copy of the leiter dated 30 May 2012 is attached hereto as Annex "PPP" and made an
170
A copy of the Stock Debit Memo is altached hereto as Annex "PPP-1" and made an
171
A copy of the check dated 30 May 2012 is attached hereto as Annex "QQQ" and made
172
A copy of the check voucher is altached hereto as Annex "QQQ-1" and made an integral
~art hereof.
73
Copies of the Sales invoices are altached hereto as Annexes "QOO-2" to "000-9","
respectively and made integrai parts hereof.
SEC
00112G
Complaint-Affidavit
VS. Angeles, et at.
Page 28 of 78
2012 covering this amount. The check174 and check
175
voucher
were received by Respondent Ocampo and deposited to
June
Respondent
Isip's
BOO bank account # 6848004621. The
confirmation invoices176 covering this transaction were signed by
Respondent Isip over the name "Sheryl Sia".
34.10.
On
31. May
2012,
Respondent
isip,
through
Nieves
3,033,800
CAL shares
amounting
to P48,541 ,722.75.
Nieves
Securities issued in favor of Respondent Isip, a BOO check dated 5
June 177 2012 covering this amount. The check and check
178
voucher
were picked up or received by an unidentified person
and
deposited
to
Respondent
Isip's
BOO bank
account
#
6848004621. Sales invoices,79 covering these transactions were
also received by Respondent Isip.
34.11.
Through a letter dated 1 June 2012,180 Respondent
transferred,
via
EO
trade,.
4,382,600
CAL
shares
Isip
from
181
debit memo
covering this transaction was received by
Respondent Ocampo on behalf of Respondent Isip.
34.12.
On
8' June
2012,
Respondent
Isip,
through
Nieves
2,093,400
CAL shares
amounting
to P25,026,985.00.
Nieves
Securities issued in favor of Respondent Isip, a BOO check dated
14 June 2012182 covering this amount. The check and check
174
A copy of the check dated 30 May 2012 is attached hereto as Annex "RRR-3" and made
.
175
A copy of the check voucher is attached hereto as Annex "RRR" and made an integral
~art hereof.
76
Copies of the confirmation invoices are attached hereto as Annexes "RRR-1" to "RRR2"," respectively and made integral parts hereof.
177
A copy of the check dated 5 June 2012 is attached hereto as Annex "sss" and made an
176
. A copy of the check voucher is attached hereto as Annex "SSS-1" and made an integral
~art hereof.
.
79
Copies of the sales invoices are attached hereto as Annexes "SSS-2"to "SSS-19."
180
A copy of the letter 1 June 2012 is attached hereto as Annex "TTT" and made an integral
eart hereof.
.
81
A copy of the Stock debit memo is attached hereto as Annex 'TIT-1" and made an
182
A copy of the check dated 8 June 2012 is attached hereto as Annex "UUU" and made an
Complaint-Affidavit
SEC
0011.25
VS.
Angeles. et al.
Page 29 of 78
voucher'83 were picked up or received by an unidentified person
and
deposited
to
Respondent
Isip's
BOO
bank
account
#
6848004621. Sales invoices 184 covering these transactions were
also received by Respondent Isip.
34.13.
Through a letter dated 7 June 2012,185 Respondent
Isip
transferred, via EO trade, 9,500,000 CAL shares from Unicapital
Securities
into his account
with
receipt'88 covering this transfefwas
Nieves Securities.
The Out
delivered to Respondent Eco.
The Transaction log 187 also indicated that the transaction was care
of Respondent Eco.
34.14.
On
13 June
2012,
Respondent
Isip,
through
Tower
issued in favor of Respondent Isip, a BOO check dated 18 June
2012188 covering this amoune89 and deposited'90 the same into
Respondent Isip's BOO bank account # 6848004621. The delivery
receipts 191 covering this transaction were signed by Respondent
Isip.
34.15.
On 13 June 2012, Respondent Isip, through HOI Securities,
shares amounting to P8,894,003.02. HOI Securities issued in favor
of Respondent Isip, a BOO check dated 18 June 2012192 covering
183
A copy of the check voucher is attached hereto as Annex "UUU-1" and made an integral
p,art hereof.
"
84
Copies of the sales invoices are attached hereto as Annexes "UUU-2" to "UUU-21 ,"
185
A copy of the letter 7 June 2012 is attached hereto as Annex "WV" and made an integral
p,art hereof.
86
A copy of the Out receipt is attached hereto as Annex 'WV-1" and made an integral part
hereof.
187
A copy of the Transaction log 'is attached hereto as Annex ''VVV-2'' and made an integral
p,art hereof.
"
,
sa
A copy of the check dated 18 June 2012 is attached hereto as Annex 'WWW" and made
'
189
A copy of the voucher is attached hereto as Annex 'WWW-1" and made an integral part
hereof.
190
A copy of the deposit slip is attached hereto as Annex 'WWW-2" and made an integral
p,art hereof.
91
Copies of the delivery receipts are attached hereto as Annexes 'WWW-3" to 'WWW-4."
respectively and made integral parts hereof,
192
A copy of the check dated 18 June 2012'is attached hereto as Annex "XXX" and made an
SEC
Complaint-Affidavit
VS, Angeles, et aI,
Page 30 of 78
this amount'93 and deposited'94 the same into Respondent Isip's
BOO bank account # 6848004621. Respondent Isip sent an e-mail
on 19 June 2012'95 to May Magistrado of HOI Securities containing
the instruction to deposit all checks due him to his BOO bank
account.
HOI
Securities
also
issued
confirmation
receipts 196
34.16.
Through a letter dated 14 June 2012,197 Respondent Isip
transferred, via EO trade,19B 650,000 CAL shares from Nieves
Securities into his account with HOI Securities.
34.17.
Through another letter dated 14 June 2012,199 Respondent
Isip transferred,
via EO trade,200 1,500,000 CAL shares from
Nieves Securities into his account with HOI Securities.
34.18.
Isip transferred, via EO trade,202657,000 CAL shares from Nieves
34.19.
Isip transferred,
via EO trade,2°4 1,787,900 CAL shares from
Nieves Securities into his account with Angpin Securities.
193
A copy of the voucher is attached hereto as Annex "XXX-1" and made an integral part
hereof.
A copy of the deposit siip is attached hereto as Annex "XXX-2" and made an integral part
194
hereof.
A print-out of this e-mail is attached hereto as Annex "XXX-3" and made an integral part
195
hereof.
Copies of the confirmation receipts are attached hereto as Annexes "XXX-4" to "XXX-5,"
\N.B. There is no Annex "YYY"and the designation is skipped.)
97
A copy of the letter dated 14 June 2012 is attached hereto as Annex "llZ' and made an
198
Copies of the PDTC ciearing and settlement logs are attached hereto as Annexes "ZZZ1" to "ZZZ-2," respectiveiy and made integral parts hereof.
199
A copy of the letter dated 14 June 2012 is attached hereto as Annex "AAA" and made an
200
Copies of the PDTC clearing and settlement logs are attached hereto as Annexes
"AAAA-1" to "AAAA-2," respectively and made integral parts hereof.
201
A copy of the letter dated 14 June 2012 is attached hereto as Annex "BBBB" and made
202
"BBBB-1" to "BBBB-2," respectively and made integral parts hereof.
203
A copy of the letter dated 14 June 2012 is attached hereto as Annex "cccc" and made
.
204
Copies'of the PDTC clearing and settlement logs are attached hereto as Annexes
"CCCC-1" to "CCCC-2," respectively and made integral parts hereof.
19.
OOl12a
Complaint-Affidavit
Page 31 of 78
34.20.
Isip transferred,
via EO trade,20G 2,811,700
CAL shares from
34.21.
On14 June 2012, Respondent ISip, through HOI Securities,
made sell orders throughout the day for a total of 1,500,000 CAL
shares amounting to P21.268,967.65.
HOI Securities issued in
favor of Respondent Isip, a BOO check dated 19 June 2012207
covering this amounf08 and deposited209 the same into Respondent
Isip's BOO bank account # 6848004621. HOI Securities also issued
confirmation receipts210covering these transactions.
35.
For his orders to Sunsecurities and Tower Securities, Respondent
Isip would give his orders for CAL shares through Respondent Zulueta211 and
Respondent Oellosa,212 respectively. Respondent Zulueta would call Davidson
Yeh, the salesman of Sunsecurities handling their accounts, to give his and
Respondent Isip's orders. On the other hand, Respondent Oellosa would call
Bruce Sio, the salesman handling their accounts in Tower Securities, to give his
and Respondent Isip's orders. For his orders to other brokers, Respondent Isip
would call the salesman assigned to his account, such as the house traders of
Nieves Securities Thomson Brian Phoa and Amelie Colobong,213 and Aristotle
Reyes from Venture Securities,214 to give his orders. All these orders were then
executed by the brokers' respective house traders and/or salesman.
RESPONDENT ARNOLD MARTIN'S TRANSACTIONS
205
A copy of the letter dated 14 June 2012 is attached hereto as Annex "0000" and made
206
Copies of the POTC clearing and settlement logs are attached hereto as Annexes
"0000-1" to "0000-2," respectively and made integral parts hereof.
207
A copy of the check dated 19 June 2012 is attached hereto as Annex "EEEE" and made
208
A copy of the check voucher is attached hereto as Annex "EEEE-1" and made an integral
~art hereof.
.
09
A copy of the deposit slip is attached hereto as Annex "EEEE-2" and made an integrat
part hereof.
10
Copies of the confirmation receipts are attached hereto as Annexes "EEEE-3" to "EEEE5," respectively and made integrai parts hereof.
211
212
213
214
See Annex "SSSSSSS".
SEC
00l1.:~2
Complaint-Affidavit
VS. Angeles, et al.
Page 32 of 78
36..
Martin transacted CAL shares during the subject period and even afterwards as
follows:
36.1. .
Sometime in May 2012, Respondent Martin opened client
accounts
with
Sunsecurities,215 Nieves Securities,216 Tower
Securities,217 HOI Securities218 and Venture Securities.219 For all
these brokers, Respondent Martin submitted his filled-up CAlFs
and photocopies of his government-issued photo lOs. Additionally,
for his account with Sunsecurities, he submitted these documents
through Respondent Zulueta220 and for Tower Securities he
submitted these documents through Respondent Oellosa.221 For
Nieves Securities, he personally went to the office of Nieves
Securities and submitted his CAlF and documents as well as the
CAlFs and documents of Respondents Bunag, Oellosa and Isip.222
He also opened a second client account with HOI Securities.
36.2.
On 23 May 2012, Respondent Martin, through his account
108293 on 25 May 2012 and deposited223 the same into
Sunsecurities' BOO bank account. Sunsecurities issued a receipf24
and
Buy invoices225 covering
these transactions
which
were
received by Respondent Ocampo on behalf of Respondent Martin.
215
A copy of Respondent Martin's Sun securities CAlF with copies of his government issued
IDs is attached hereto as Annex "FFFF" and made an integral part hereof.
216
A copy of Respondent Martin's Nieves Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "FFFF-1" and made an Integral part hereof.
217
A copy of Respondent Martin's Tower Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "FFFF-2" and made an integral part hereof.
218
A copy of Respondent Martin's HDI Securities CAlF with copies of his government issued
IDs is attached hereto as Annex "FFFF'3" and made an integral part hereof.
2'9
A copy of Respondent Martin's Venture Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "FFFF-4" and made an integral part hereof.
220
221
222
See Annex "PPPPPPPP".
223
A copy of the deposit slip is attached hereto as Annex "GGGG" and made an integral part
hereof.
224
A copy of the receipt is attached hereto as Annex "GGGG-1" and made an integral part
hereof.
225
Copies of the Buy invoices are attached hereto as Annexes "GGGG-2" to "GGGG-15,"
respectiveiy and made integral parts hereof.
Complaint-Affidavit
Page 33 of 78
36.3.
of 177,900 CAL shares amounting to P1,358,671.76. He paid for
108300
on 29
May 2012
and
deposited226
the
same
into.
and Buy invoices228
covering
these .transactions
which
were
received by Respondent Ocampo.
36.4.
total of 300,000 CAL shares amounting to P2,278,314.25. He paid
for these buy orders through an unidentified BOO check on 29 May
2012 and deposited the same into Nieves Securities' BOO bank
account.229
Nieves Securities also issued Purchase
invoices23o
36.5.
of 2,297,500 CAL shares amounting to P9,717,77;3.06. He paid for
153004
on 30
May 2012
and
deposited231
the
same
into
and
Buy invoices233
covering
these transactions
which
were
received by Respondent Ocampo on behalf of Respondent Martin,
36.6.
226
He
A copy of the deposit slip is attached hereto as Annex "HHHH" and made an integral part
hereof.
227
A copy of the receipt is attached hereto as Annex "HHHH-1" and made an integrai part
hereof.
228
Copies of the Buy invoices are attached hereto as Annexes "HHHH-2" to "HHHH-4,"
229
A copy of the receipt is attached hereto as Annex "1111" and made an integral part hereof.
230
Copies of the Purchase invoices are attached hereto as Annexes "1111-2" to "1111-2,"
.
231
A copy of the deposit slip is attached hereto as Annex "JJJJ" and made an integral part
hereof.
232
A copy of the receipt is attached hereto as Annex "JJJJ-1" and made an integral part
hereof.
233
Copies of the Buy invoices are attached hereto as Annexes "JJJJ-2" to "JJJJ-6,"
001120
SEC
Com plaint-Affidavit
VS. Ange/es, et at.
Page 34 of 78
May 2012 and deposited234 the same into Nieves Securities' BOO
235
bank account. Nieves Securities also issued. Purchase invoices
36.7.
of 215,000 CAL shares amounting to P2,027,512.80. He paid for
153005 on 31 May 2012 and deposited236 the same into
Sun securities' BOO bank account. Sunsecurities issued a receipf37
covering these transactions which was received by Respondent
Ocampo on behalf of Respondent Martin.
36.8.
total of 1,968,900 CAL shares amounting to P5, 197, 124.16. He
May 2012 and deposited238 the same into Nieves Securities' BOO
bank account. Nieves Securities also issued Purchase invoices239
covering these transactions which were received by Respondent
Martin.
36.9.
Through a letter dated 28 May 2012,240 Respondent Martin
into his account with HOI Securities. The Stock debit mem0241
covering this transaction was received by Respondent Ocampo on
behalf of Respondent Martin.
234
A copy of the deposit slip is attached hereto as Annex "KKKK" and made an integral part
hereof.
235
Copies of the Purchase invoices are attached hereto as Annexes "KKKK-2" to "KKKK-6,"
236
A copy of the deposit slip is attached hereto as Annex "LLLL" and made an integral part
hereof.
237
A copy of the receipt is attached hereto as Annex "LLLL -1" and made an integral part
hereof.
238
A copy of the deposit slip is attached hereto as Annex "MMMM" and made an integral
~art hereof.
39
Copies of the Purchase invoices are attached hereto as Annexes "MMMM-l" to "MMMM8," respectiveiy and made integral parts hereof.
240
A copy of the letter dated 28 May 2012 is attached hereto as Annex "NNNN" and made
241
A copy of the Stock debit memo is attached hereto as Annex "NNNN-1" and made an
Integ ral part hereof.
OOl11D
Complaint-Affidavit
Page 35 of 78
•
36.10.
Martin transferred,
via EO trade,
510,000
CAL shares
from
Sunsecurities
debit
into his account with PCCI Securities. The Stock
mem0243 covering this transaction was received by
Respondent Ocampo on behalf of Respondent Martin.
36.11.
Martin, through
Nieves
1,325,900 CAL shares. However, since he had more buy orders for
CAL shares or a "net-buy" for the day he did not receive a check for
the said sell orders. However, he signed the Sales invoices244
36.12.
On
28
May
2012,
Respondent
Martin,
through
HOI
issued in favor of Respondent Martin, a BOO check dated 31 May
245
2012
covering this amount which was received, along with the
Check voucher,246 by Respondent Ocampo and deposited into
Respondent
Martin's
BOO bank
account
Securities also issued a Confirmation
# 928019960.
HOI
receipf47 covering these
transactions.
36.13.
Martin, through
Nieves
Securities,
3,946,300
CAL shares
amounting
to P42, 786,155.18.
Nieves
Securities issued in favor of Respondent Martin, a BOO check
dated 1 June 2012248covering this amounf49 and was deposited250
242
A copy of the lelter dated 28 May 2012 is attached hereto as Annex "0000"
and made
243
A copy of the Stock debit memo is attached hereto as Annex "0000-1"
and made an
.
244
Copies of the Sales invoices are attached hereto as Annexes "PPPP" to "PPPP-4."
.
245
A copy of the check dated 31 May 2012 is attached hereto as Annex "QQQQ" and made
246
A copy of the check voucher is altached hereto as Annex "QQQQ-1" and made an
247
A copy of the Confirmation receipt is attached hereto as Annex "QQQQ-2" and made an
248
A copy of the check dated 1 June 2012 is attached hereto as Annex "RRRR" and made
.
249
A copy of the check voucher is altached hereto as Annex "RRRR-1" and made an
.
SEC
001116
Complaint-Affidavit
VS. Ange/es. et a/.
Page 36 ot 78
•
•
to
Respondent
Respondent
Martin's
Martin
also
BOO
bank
signed
account
928019960.
the Confirmation Invoices251
#
36.14.
Through a letter dated 30 May 2012,252 Respondent Martin
transferred,
via
EQ
trade,
1,941,400
CAL
shares
from
debit mem0253 covering this transaction was received by
Respondent Ocampo on behalf of Respondent Martin.
36.15.
of 3,750,300 CAL shares amounting to P60, 111,374.96." He paid for
153019 on 4 June 2012 and deposited254 the same into
and
Buy invoices256 covering
these transactions
which
were
received by Respondent Ocampo oh behalf of Respondent Martin.
36.16.
total of 595,300 CAL shares amounting to P9,505,133.67. He paid
for these buy orders through an unidentified BOO check on 5 June
2012 and deposited257 the same into Nieves Securities' BOO bank
account. Nieves Securities also issued a Purchase invoice258
250
A copy of the deposit slip is attached hereto as Annex "RRRR-2" and made an integral
r,art hereof
51
Copies of the Confirmation invoices are attached hereto as Annexes "RRRR-3" to
"RRRR-12," respectively and made integral parts hereof.
252
A copy of the letter dated 30 May 2012 is attached hereto as Annex "SSSS" and made an
253
A copy of the Stock debit memo is attached hereto as Annex "SSSS-1" and made" an
254
A copy of the deposit slip is attached hereto as Annex "TTTT" and made an integral part
hereof.
255
A copy of the receipt is attached hereto as Annex "TTTT-1" and made an integral part
hereof.
256
Copies of the Buy invoices are attached hereto as Annexes 'TITT-2" to 'TITT-14,"
"
257
A copy of the deposit slip is attached hereto as Annex "UUUU" and made an integral part
hereof
258
A copy of the Purchase invoice is attached hereto as Annex "UUUU-1" and made an
integral part hereof,
00111'/
Complaint-Affidavit
SEC vs. Ange/es, et ai,
Page 37 of 78
36.17.
Through a letter dated 1 June 2012,269 Respondent Martin
transferred,
via
EQ
trade,.
4,220,600
CAL
shares
from
debit mem0260 covering this transaction was received by
Respondent Morle on behalf of Respondent Martin.
36.18.
On 1 June
2012,
Respondent
Martin,
through Nieves
4,323,000
CAL shares
amounting
to P91,902,569.49.
Nieves
dated 6 June 2012261 covering this amount which was received,
along with the Check voucher,262 by Respondent Ocampo and
deposited
into
Respondent
Martin's
BOO
928019960. Respondent Martin also signed
Invoices263 covering these transactions.
36.19.
bank
account
#
the Confirmation
On 4 June 2012, Respondent Martin, through his account
total of 8,559,700 CAL shares amounting to P190,621 ,712.33. He
June 2012 for the partial amount of P157,621,712.33264 and
another unidentified BOO check on 7 June 2012 for the balance of
P33,000,000, both of which were deposited into Nieves Securities'
BOO bank account. Nieves Securities issued Purchase invoices
covering these transactions which were received by Respondent
Martin.266
36.20.
On 4 June 2012,
Securities,
Respondent
Martin,
through
Nieves
492,900 CAL shares. However, since he had more buy orders for
259
A copy of the letter dated 1 June is attached hereto as Annex "VVVV" and made an
.
260
A copy of the Stock debit memo is attached hereto as Annex 'VVVV-1" and made an
26'
A copy of the check dated 1 June is attached hereto as Annex 'WWWW" and made an
262
A copy of the check voucher is attached hereto as Annex 'WWWW-1" and made an
.
263
Copies of the Confirmation invoices are attached hereto as Annexes ''WWWW-2'' to
'WWWW-10," respectively and made integral parts hereof.
.
264
A copy of the receipt is attached hereto as Annex "xxxx" and made an integral part
hereof.
265
Copies of the Purchase invoices are attached hereto as Annexes "XXXX-2" to "XXXX12,'- respectively and made integral parts hereof.
00111(;
Complaint-Affidavit
Page 38 of 78
36.25.
On
6
June
2012,
Respondent
Martin,
through
HOI
issued in favor of Respondent Martin, a BOO check dated 11 June
277
2012
covering
this
amounf78
and
was
deposited279
into
Respondent Martin's BOO bank account # 928019960
by HOI
Securities.
through
These
transactions
were
entered
into
Respondent Martin's first client account with HOI Securities. HOI
Securities
also issued Confirmation Jeceipts280
covering
these
transactions.
36.26.
On
6
June
2012,
Respondent
Martin,
through
HOI
Securities,
1,381,800
CAL
shares
amounting
to
P14.608,168.82.
HOI
dated
11 June
deposited283
2012281
covering
into Respondent
this
Martin's
amounf82
and
BOO bank
was
account
#
928019960 by HOI Securities. This transaction was entered into
through
Respondent
Securities.
Martin's
HOI Securities
second client account
also issued Confirmation
with
HOI
receipts284
36.27.
On 6 June. 2012, Respondent
Securities,
Martin, through
Venture
to P11,745,535.46.
Venture
Securities issued in favor of Respondent Martin a BOO check dated
277
A copy of the check dated 11 June 2012 is attached hereto as Annex "00000"
and
278
A copy of the check voucher is attached hereto as Annex "00000-1"
and made an
.
279
A copy of the deposit slip is attached hereto as Annex "00000-2" and made an integral
~art hereof.
80
Copies of the Confirmation receipts are attached hereto as Annexes ':00000-3" to
"00000-5,"
281
A copy of the check dated 11 June 2012 is attached hereto as Annex "EEEEEE" and
282
A copy of the check voucher is attached hereto as Annex "EEEEE-1" and made an
.
283
A copy of the deposit slip is attached hereto as Annex "EEEEE-2" and made an integral
~art hereof.
.
84
Copies of the Confirmation receipts are attached hereto as Annexes "EEEEE-3" to
"EEEEE-6," respectively and made integral parts hereof.
SEC
Complaint-Affidavit
VS. Angeles, et at.
Page 40 of 78
11 June 2012285covering this amount which, along with the Check
voucher,286 was picked up by Respondent Sulit, as authorized by
Respondent Martin,287 and deposited the same at BOO Pulilan,
Bulacan branch into Respondent Martin's BOO bank account #
928019960. The sell invoices288 covering this transaction were
signed "GB".
36.28.
Through a letter dated 7 June 2012,289 Respondent Martin
transferred, via EO trade,29o 3,181,500 CAL shares from Nieves
Securities into his account with Venture Securities.
36.29.
Martin transferred, via EO trade,292 2,266,500 CAL shares from
Nieves Securities into his account with Tower Securities.
36.30.
Martin, through
Venture
130,000
CAL
shares
amounting
to
P1,454,146.89.
Venture
a
Securities issued iri favor of Respondent Martin BOO check dated
13 June 2012293covering this amounr94 and deposited295 the same
at BOO Pulilan, Bulacan branch into Respondent Martin's BOO
bank account # 928019960. Venture Securities also issued a sell
invoice296covering these transactions.
285
A copy of the check dated 11 June 2012 is attached hereto as Annex "FFFFFP' and
286
A copy of the check voucher is attached hereto as Annex "FFFFF-1" and made an
287
A copy of the letter dated 11 June 2012 and its accompanying documents are attached
hereto as Annexes "FFFF-2" to "FFFFF-4" and made integral parts hereof.
288
Copies of the sell invoices are attached hereto as Annexes "FFFFF-5" to "FFFFF-7."
269
A copy of the letter 7 June 2012 is attached hereto as Annex "GGGGG" and made an
290
A copy of the PDTC clearing and settlement log is attached hereto as Annex "GGGGG-1"
291
A copy of the letter 7 June 2012 is attached hereto as Annex "HHHHH" and made an
292
A copy of the PDTC clearing and settlement log is attached hereto as Annex "HHHHH-1"
293
A copy of the check dated 13 June 2012 is attached hereto as Annex "11111"
and made an
294
and made an integral
gart hereof.
95
A copy of the deposit slip is attached hereto as Annex "11111-2"
hereof.
296
A copy of the sell invoice is attached hereto as Annex "11111-3"
hereof.
001113
Complaint-Affidavit
Page 41 of 78
36.31.
Martin, through
Venture
785,000
CAL
shares
amounting
to
P9,313,355.46.
Venture
14 June 2012297 covering this amounf98 and deposited299 the same
at BOO Pulilan, Bulacan branch into Respondent Martin's BOO
bank account # 928019960. The confirmation invoices30o covering
these transactions were signed by Respondent Sulit on behalf of
Respondent Martin.
36.32.
Martin, through
Tower
1,190,000
CAL
shares
amounting
to P19,980,301.66.
Tower
19 June 2012301 covering this amount302 and deposited303 the same
into Respondent
delivery
Isip's BOO bank account # 928019960.
receipts304
The
covering this transaction were received by
Respondent Martin.
36.33.
On 18 June 2012,
Securities,
461,800
Respondent
Martin,
through
Tower
CAL
shares
amounting
to
P9,9480,992.07.
Tower
21 June 2012305 covering this amount306 and deposited307 the same
into Respondent
Isip's BOO bank account # 928019960.
The
297
A copy of the check dated 14 June 2012 is attached hereto as Annex "JJJJJ" and made
.
298
A copy of the check voucher is attached hereto as Annex "JJJJJ-1" and made an integral
gart hereof.
99
A copy of the deposit slip is attached hereto as Annex "JJJJJ-2" and made an integral
~rt hereof.
Copies of the confirmation invoices are attached hereto as Annexes '.'JJJJJ-3" to "JJJJJ5:' respectively and made integral parts hereof.
301
A copy of the check dated 19 June 2012 is attached hereto as Annex "KKKKK" and made
an integral part hereof.'
.
302
A copy of the check voucher is attached hereto as Annex "KKKKK-1" and made an
303
A copy of the deposit slip is attached hereto as Annex "KKKKK-2" and made an integral
rcart hereof.
.
04
Copies of the delivery receipts are attached hereto as Annexes "KKKKK-3" to "KKKKK-5,"
305
A copy of the check dated 21 June 2012 is attached hereto as Annex "LLLLL" and made
306
A copy of the check voucher is attached hereto as Annex "LLLLL-1" and made an integral
roart hereof.
.
7
A copy of the deposit slip is attached hereto as Annex "LLLLL-2" and ;"ade an integral
part hereof.
SEC
Complaint-Affidavit
VS. Angeles, et al.
Page 42 of 78
delivery receipts30B covering this transaction
were received by
Respondent Martin.
37.
For his orders to Sunsecurities and Tower Securities, Respondent
Martin would give his orders for CAL shares through Respondent Zulueta and
Respondent Dellosa, respectively. Respondent Zulueta would call Davidson Yeh,
the salesman
of Sunsecurities handling their accounts, to give his and
30g
Respondent Martin's orders.
On the other hand, Respondent Dellosa would
call Bruce Sio, the salesman handling their accounts in Tower Securities, to give
his and Respondent Martin's orders.31o For his orders to other brokers,
Respondent Martin would call the salesman assigned to his account, such as the
house
traders
of
Nieves
Securities
Thomson
Brian
Phoa
and
Amelie
Colobong,311 and Aristotle Reyes from Venture Securities,312 to give his orders.
All these orders were then executed by the brokers' respective house traders
and/or salesman.
RESPONDENT GARY TABOSO'S TRANSACTIONS
38.
Taboso transacted CAL shares during the subject period and even afterwards as
follows:
38.1.
Sometime in May 2012, Respondent Taboso opened client
with Nieves Securities,313 HDI Securities,314 Venture
315
Securities
and Unicapital Securities.316 Around two years prior to
accounts
this, Respondent Taboso already opened a client account with
Tower Securities317 as a house account but around a year and a
half ago, he called up Bruce Sio to handle his account for Tower
Copies of the delivery receipts are attached hereto as Annexes "LLLLL-3" to "LLLLL-6,"
309
310
See Annex "RRRRRRRR"
311
312
313
A copy of Respondent Taboso's Nieves Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "MMMMM" and made an integral part hereof.
314
A copy of Respondent Taboso's HOI Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "MMMMM-1" and made an integral part hereof.
315
A copy of Respondent Taboso's Venture Securities CAlF with copies of his government
316
A copy of Respondent Taboso's Unicapital Securities CAlF with copies of his government
317
A copy of Respondent Taboso's Tower Securities CAlF with copies of his government
308
SEC
001111
Complaint-Affidavit
VS. Angeles, et at.
Page 43 of 78
Securities.31B For all these brokers, Respondent Taboso submitted
his filled-up CAlFs and photocopies of his government-issued photo
IDs.
38.2.
Through a letter dated 7 May 2012,319 Respondent Taboso
transferred, via EO trade,32o 12,500,000 CAL shares from POTC
into his account with Unicapital Securities.
38.3.
Through a letter dated 1 June 2012,321Respondent Taboso
transferred, via EO trade,3223,000,000 CAL shares from Unicapital
Securities into his account with HOI Securities.
38.4.
Securities into his account with Nieves Securities.
38.5.
Securities into his account with Venture Securities.
38.6.
transferred, via EO trade,32B2,000,000 CAL shares from Unicapital
38.7.
Securities,
318
31'
320
Taboso,
through
Tower
See Annex "KKK".
A copy of the In receipt is attached hereto as Annex "NNNNN" and made an integral part
hereof.
A copy of the letter dated 1 June 2012 is attached hereto as Annex "00000"
and made
322
A copy of the Out receipt is attached hereto as Annex "00000-1"
r,art hereof.
3
A copy of the letter dated 1 June 2012 is attached hereto as Annex "PPPPP" and made
.
324
A copy of the Out receipt is attached hereto as Annex "PPPPP-1" and made an integral
r,art hereof.
.
25
A copy of the letter dated 1 June 2012 is attached hereto as Annex "QQQQQ" and made
.
326
A copy of the Out receipt is attached hereto as Annex "QQQQQ-1"'and made an integral
r,~rt hereof.
.
A copy of the letter dated 1 June 2012 is attached hereto as Annex "RRRRR" and made
328
A copy of the Out receipt is attached hereto as Annex "RRRRR-1" and made an integral
part hereof.
321
00111l) .
Complaint-Affidavit
Page 44 of 78
issued in favor of Respondent Taboso a BOO check dated 6 June
329
2012
covering this amount which, along with the check
3o
voucher
and delivery receipt,331 was received by Respondent
Ocampo
and was
deposited
into
Respondent
Taboso's
BPI
(Plaridel, Bulacan branch) bank aCcount # 4721002026.
38.8.
On
1 June
2012,
Respondent
Securities, made sell orders throughout
1,964,600
CAL
shares
amounting
to
Taboso,
through
HOI
the day for a total of
P38,266,046.23.
HOI
Securities issued in favor of Respondent Taboso a BOO check
dated 6 June 2012332 covering this amount which, along with the
check voucher33 and delivery receipt,334 was received by
Respondent Ocampo and was deposited into Respondent Taboso's
38.9.
On 1 June 2012, Respondent Taboso, through Venture
Securities,
to P30,449,665.24.
Venture
check voucher,336 was received by Respondent Ocampo and was
deposited
into
66848004613.
Respondent
The
Taboso's
confirmation
BOO bank account #
invoices337 covering these
transactions were signed by "Sheryl Sia" for Respondent Taboso.
329
A copy of the check dated 6 June 2012 is attached hereto as Annex "SSSSS" and made
330
A copy of the check voucher is attached hereto as Annex "SSSSS-1" and made an
integral part hereof
331
A copy of the delivery receipt is attached hereto as Annex "SSSSS-2" and made an
integral part hereof
332
A copy of the check dated 6 June 2012 is attached hereto as Annex "TTTTT' and made
333
A copy of the check voucher is attached hereto as Annex "TITTT-1" and made an
334
A copy of the delivery receipt is attached hereto as Annex "TTTTT-2" and made an
335
A copy of the check dated 6 June 2012 is attached hereto as Annex "UUUUU" and made
336
A copy of the check voucher is attached hereto as Annex "UUUUU-1" and made an
337
Copies of the confirmation receipts are attached hereto as Annexes "UUUUU-2" to
"UUUUU-3," respectively and made integral parts hereof.
SEC
00110.1
Complaint-Affidavit
VS. Angeles, et a/.
Page 45 of 78
38.10.
Taboso,
through
Tower
461,000
CAL
shares
amounting
to
P10,630,510.18.
Tower
338
dated 7 June 2012
covering this amount which, along with the
check voucher,339was received by Noel Bulagit and was deposited
into Respondent Taboso's BOO bank account # 66848004613. The
340
Delivery receipt
covering these transactions was received by
,
.
Respondent Ocampo on behalf Of Respondent Taboso.
38.11.
On
4 June
Securities,
2012,
Respondent
Taboso,
through
HOI
issued in favor of Respondent Taboso a BOO check dated 7 June
341
2012
342
voucher
and delivery receipt,343 was received by Respondent
Ocampo and was deposited into Respondent Taboso's Metrobank
(Plaridel, Bulacan branch) bank ,account # 3327503414.
38.12.
260,000
CAL
shares
amounting
to
P5,987,021.75.
Venture
dated 7 June 2012344covering this amount345 and deposited346 the
same
into
Respondent
Taboso's
BOO
bank
account #
66848004613 per his e-mail instruction dated 13 June 2012.347The
33'
A copy of the check dated 7 June 2012 is attached hereto as Annex "VVWV' and made
339
A copy of the check voucher is attached hereto as Annex 'VVVVV-1" and made an
340
A copy of the delivery receipt is attached hereto as Annex 'VVVVV-2" and made an
341
A copy of the check dated 7 June 2012 is attached hereto as Annex 'WWWWW" and
342
A copy of the check voucher is attached hereto as Annex 'WWWWW-1" and made an
343
A copy of the receipt is attached hereto as Annex 'WWWWW-2" and made an integral
~rt hereof.
.'
A copy of the check dated 7 June 2012 is attached hereto as Annex "XXXXX" and made
345
A copy of the check voucher is attached hereto as Annex "XXXXX-1" and made an
34B
A copy of the deposit slip is attached hereto as Annex "XXXXX-2" and made an integral
eart hereof.
.'
7
A copy of the e-mail dated 13 June 2012 is attached hereto as Annex "XXXXX-3" and
001103
Complaint-Affidavit
Page 46 of 78
348
sell invoice
covering these transactions was signed by "Sheryl
Sia" for Respondent Taboso.
38.13.
On 5 June 2012,
Respondent
Taboso,
through
Tower
Securities, made sell orders' throughout the day for a total of
1,393,400
CAL
shares
amounting
to P21,806,860.16.
Tower
check voucher,350was received by Noel Bulagit and was deposited
into Respondent Taboso's BOO bank account # 66848004613. The
Delivery receipts351 covering these transactions were received by
Respondent Ocampo on behalf of Respondent Taboso.
38.14.
5 June
On
2012,
Respondent
Taboso,
through
HOI
issued in favor of Respondent Taboso a BOO check daterj 8 June
2012352 covering this amoune53 and deposited354 the same into
Respondent
Taboso's
BOO' bank
account
#
66848004613.
Respondent Taboso sent an e-mail dated 13 June 2012 instructing
HOI Securities to deposit this check into his BOO bank account.
HOI Securities also issued confirmation receipts355 covering these
transactions
which were received by Respondent
Ocampo on
behalf of Respondent Taboso.
38.15.
Securities,
1,230,000
to P20,720,924.52.
Venture
Securities issued iil favor of Respondent Taboso a BOO check
34'
r~~.
.
A copy of the sell invoice is attached hereto as Annex "XXXXX-4" and made an integral
A copy of the check dated 8 June 2012 is attached hereto as Annex "YYYYY" and made
350
A copy of the check voucher is attached hereto as Annex "YYYYY-1" and made an
. .
351
Copies of the delivery receipts are attached hereto as Annexes "YYYYY.2" to "YYYYY-4,"
352
A copy of the check dated 8 June 2012 is attached hereto as Annex "llZZZ' and made
353
A copy of the check voucher is att'ached hereto as Annex "ZllZZ-l" and made an
354
A copy of the deposit slip is attached hereto as Annex "ZllZZ-2" and made an integral
~art hereof.
55
Copies of the confirmation receipts are attached hereto as Annexes "ZUZZ-3" to
"ZZZZZ-5," respectively and made integral parts hereof.
9
SEC
00110'/'
Complaint-Affidavit
VS. Angeles, et at.
Page 47 of 78
dated 8 June 2012356 covering this amount357 and deposited the
same
into
Respondent
Taboso's
BOO
bank
account
#
66848004613 per his e-mail instruction dated 13 June 2012. The
358
sell invoices
covering these transactions were signed by "Sheryl
Sia" for Respondent Taboso.
38.16.
Taboso,
through
Nieves
4,500,000
CAL shares
amounting
to P48,815,322.97.
Nieves
dated 11 June 2012359 covering this amoune60 and deposited the
same
into
66848004613.
Respondent
The
Taboso's
confirmaiion
BOO
bank account
#
invoices361. covering these
transactions were signed by Respondent Taboso.
39.
For his orders to Tower Securities, Respondent Taboso would give
his orders for CAL shares through Respondent Zulueta who would call Bruce Sio,
the salesman
handling their accounts in Tower Securities, to give his and
Respondent Taboso's orders.362 For his orders to other brokers, Respondent
Taboso would call the salesman assigned to his account, such as the house
traders of Nieves Securities Thomson Brian Phoa and Amelie Colobong,363 and
Aristotle Reyes from Venture Securities,364 to give his orders. All these orders
were then executed by the brokers' respective house traders and/or salesman.
RESPONDENT DENNIS VISTAN'S TRANSACTIONS
40.
Vistan transacted CAL shares during the subject period and even afterwards as
follows:
356
A copy of the check dated 8 June 2012 is attached hereto as Annex "AAAAAA" and
357
A copy of the check voucher is attached hereto as Annex "AAAAAA-1" and made an
.
358
Copies of the sell invoices are attached hereto as Annexes "AAAAAA-2" to "AAAAAA-8,"
.
359
A copy of the check dated 11 June 2012 is attached hereto as Annex "BBBBBB" and
360
A copy olthe check voucher is attached hereto as Annex "BBBBBB-1" and made an
36'
Copies of the confirmation invoices are attached hereto as Annexes "BBBBBB-2" to
"BBB888-25," respectively and made integral parts hereof.
362
363
364
00110G
SEC
Complaint-Affidavit
VS. Angeles, ef al.
Page 48 of 78
40.1.
Sometime in May 2012, Respondent Vistan opened client
accounts
with
Sunsecurities,365 Nieves Securities,366 Tower
Securities,367 HOI Securities368 and Unicapital Securities.369 For all
these brokers, Respondent Vistan submitted his filled-up CAlFs
and photocopies of their government-issued
photo IDs. On the
other hand, for his account with Sunsecurilies, he submitted these
documents through Respondent Zulueta370 and for Tower
Securities he submitted these documents through Respondent
371
Oellosa.
For Nieves Securities, he personally went to the office of
Nieves Securities and submitted his CAlF and documents.372
40.2.
Through a letter dated 7 May 2012,373 Respondent Vistan
transferred, via EQ trade,374 16,000,000 CAL shares from POTC
into his account with UnicapitalSecurities.
40.3.
On 23 May 2012, Respondent Vistan, through his account
these buy orders through BOO (Pulilan Bulacanbranch)
108292
on 25
May 2012
and
deposited375 the
check no.
same
into
Sunsecurities' BOO bank account. Sunsecurities issued a receipt376
and Buy invoices377 covering these transactions which were
received by Respondent Ocampo on behalf of Respondent Vistan.
A copy of Respondent Vistan's Sun securities CAlF with copies of his government issued
IDs is attached hereto as Annex "CCCCCC" and made an integral part hereof.
366
A copy of Respondent Vistan's Nieves Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "CCCCCC-1" and made an integral part hereof.
367
A copy of Respondent Vistan's Tower Securities CAlF with copies of his government
368
A copy of Respondent Vistan's HDI Securities CAlF with copies of his government issued
IDs is attached hereto as Annex "CCCCCC-3" and made an integral part hereof.
369
A copy of Respondent Vistan's Unicapital Securities CAlF with copies of .his government
370
371
372
373
See Annex "KKK".
37'
A copy of the In receipt is attached hereto as Annex "DDDDDD" and made an integral
gart hereof.
.
75
A copy of the deposit slip dated 25 May 2012 is attached hereto as Annex "EEEEEE" and
376
A copy of the receipt is attached hereto as Annex "EEEEEE-1" and made an integral part
hereof.
377
Copies of the buy invoices are attached hereto as Annexes "EEEEEE-2" to "EEEEEE-6,"
365
SEC
001105
Complaint-Affidavit
VS. Ange/es, et at.
Page 49 of 78
40.4.
On 24 May 2012, Respondent Vistan, through Sunsecurilies,
made sell orders throughout the day for a total of 210,000 CAL.
shares amounting to P1,551 ,445.51. Sunsecuritiesissued
in favor
of Respondent Vistan an unidentified BOO check as payment for
this said amount. This check was directly deposited378 into
Respondent
Bunag's
BOO bank
account
#
6848004583
by
Sunsecurities. Respondent Ocampo received the check vouche~79
and the sell invoices38o covering these transactions on behalf of
Respondent Vistan.
40.5.
Vistan, through
Nieves
362,000
CAL
shares
amounting
to
P2,688,278.89.
Nieves
Securities issued in favor of Respondent Vistan a BOO check dated
29 May 2012381 covering this amount which, along with the check
voucher,382 was picked up or received by an unidentified person
and deposited383 the same to. Respondent Vistan's BOO bank
account # 6848004583. The confirmation invoices384 covering these
transactions were signed by Respondent Vistan
40.6.
Vistan, through
Nieves.
Securities,
1,005,000
CAL
shares
amounting
to
P7,767,582.84.
Nieves
30 May 2012385 covering this amount which, along with the check
37.
A copy of the deposit slip is attached hereto as Annex "FFFFFF-1" and made an integral
roart hereof.
79
A copy of the check voucher is attached hereto as Annex "FFFFFF" and made an integral
g,art hereof.
.
o
Copies of the sell invoices are attached hereto as Annexes "FFFFFF-2" to "FFFFFF-3,"
381
A copy of the check dated 29 May 2012 is attached hereto as Annex "GGGGGG" and
382
A copy of the check voucher is attached hereto as Annex "GGGGGG-1" and made an
383
A copy of the deposit slip is attached hereto as Annex "GGGGGG-2" and made an
384
Copies of the confirmation invoices are attached hereto as Annexes :'GGGGGG-3" to
"GGGGGG-9," respectively and made integral parts hereof.
385
A copy of the check dated 30 May 2012 is attached hereto as Annex "HHHHHH" and
386
A copy of the check voucher is attached hereto as Annex "HHHHHH-1" and made an
00110,1
Complaint-Affidavit
SEC vs. Angeles, at a/.
Page 50 cif 78
387
and deposited
the same into Respondent Vistan's BOO bank
account # 6848004583.
The confirmation invoices388 covering these
transactions were signed by Respondent Vistan
40.7.
into his account with Tower Securities. The Stock debit mem0390
.
behalf of Respondent Vistan.
40.8.
Vistan
transferred,
Sunsecurities
debit
via EO trade,
676,000
CAL shares
from
into his account with PCCI Securities. The Stock
392
mem0
covering
this. transaction
was
received
by
Respondent Ocampo on behalf of Respondent Vistan.
40.9.
On 28 May 2012, Respondent Vistan, through Sunsecurities,
made sell orders throughout the day for a total of 185,000
shares amounting to P1 ,539,193.53.
CAL
Sunsecurities issued in favor
Respondent
Sunsecurities.
Vistan's
BOO bank
account # 6848004583
by
Both the check voucher94 and sell invoices395
covering these transactions were received by Respondent Ocampo
on behalfof Respondent Vistan.
A copy of the deposit slip is attached hereto as Annex "HHHHHH-2" and made an
.
388
Copies of the confirmation invoices are attached hereto as Annexes "HHHHHH-3" to
"HHHHHH-9,"
389
A copy of the letter dated 28 May 2012 is attached hereto as Annex "111111"
and made an
390
. A copy of the Stock debit memo is attached hereto as Annex "111111-1"
and made an
391
A copy of the letter dated 28 May 2012 is attached hereto as Annex "JJJJJJ" and made
392
A copy of the Stock debit memo is attached hereto as Annex "JJJJJJ-1" and made an
393
A copy of the deposit slip is attached hereto as Annex "KKKKKK" and made an integral
r,art hereof.
.
94
A copy of the check voucher is attached hereto as Annex "KKKKKK-1" and made an
395
Copies of the sell invoices are attached hereto as Annexes "KKKKKK-2" to "KKKKKK-4,"
387
001103
Complaint-Affidavit
SEC vs. Ange/es, ef at.
Page 51 of 78
40.10.
Vistan, through
Nieves
908,000
CAL
shares
amounting
to
P8,012,033.89.
Nieves
396
31 May 2012
and deposited398 the same into Respondent Vistan's BOO bank
account # 6848004583. The confirmation invoices399covering these
transactions were signed by Respondent Vistan.
40.11.
On 28 May 2012,
Respondent
Vistan,
through
Tower
issued in favor of Respondent Vistan a BOO check dated 31 May
400
2012
covering this amount401 and' deposited402 the same into
Respondent
Vistan's
BOO bank account
# 6848004583.
The
delivery receipts403 covering these transactions were received by
Respondent Eco on behalf of Respondent Vistan.
40.12.
transferred, via EQ trade, 275,000 CAL shares
from Sunsecurities
,
into his account with Nieves Securities. The Stock debit memo405
behalf of Respondent Vistan.
A copy of the check dated 31 May 2012 is attached hereto as Annex "LLLLLL" and made
397
A copy of the check voucher is attached hereto as Annex "LLLLLL-1" and made an
..
398
A copy of the deposit slip is attached hereto as Annex "LLLLLL-2" and made an integral
~rt hereof.
Copies of the confirmation invoices are attached hereto as Annexes "LLLLLL-3" to
"LLLLLL-7," respectively and made integral parts hereof.
.
400
A copy of the check dated 31 May 2012 is attached hereto as Annex "MMMMMM" and
.
401
A copy of the check voucher is attached hereto as Annex :'MMMMMM-1" and made an
.
402
A copy of the deposit slip is attached hereto as Annex "MMMMMM-2" and made an
403
Copies of the delivery receipts are attached hereto as Annexes "MMMMMM-3" to
"MMMMMM-5," respectively and made integral parts hereof.
404
A copy of the check dated 30 May 2012 is attached hereto as Annex "NNNNNN" and
405
A copy of the Stock debit memo is attached hereto as Annex "NNNNNN-1" and made an
396
001102
Complaint-Affidavit
Page 52 of 78
40.13.
On 31 May 2012, Respondent Vistan, through Sunsecurities,
shares amounting to P9,634,084.68. Sunsecurities issued in favor
this said amount.
Respondent
Sunsecurities.
This check
Vistan's
was directly
deposited406 into
BOO bank
account # 6848004583 by
Both the check voucher407 and sell invoices40B
on behalf of Respondent Vistan.
40.14.
On 1 June 2012, Respondent Vistan, through Sunsecurities,
shares amounting to P6,481 ,786.14. Sunsecurities issued in favor
Respondent
Sunsecurities.
Vistan's. BOO bank
account # .6848004583 by
Both the check voucher410 and sell invoices411
on behalf of Respondent Vistan.
40.15.
On 5 June 2012, Respondent Vistan, through his account
He
BOO bank account.412 Nieves Securities also issued purchase
invoices413 covering these transactions which were received by
Respondent Vistan.
and made an
.
.
407
A copy of the check voucher is attached hereto as Annex "000000"
and made an
408
A copy of the sell invoice is attached hereto as Annex "000000-2"
and made an
409
A copy of the deposit slip is attached hereto as Annex "PPPPPP-1" and made an integral
r,art hereof.
.
10
A copy of the check voucher is attached hereto as Annex "PPPPPP" and made an
411
Copies of the sell invoices are attached hereto as Annexes "PPPPPP-2" to "PPPPPP-3,"
412
A copy of the receipt is attached hereto as Annex "QQQQQQ" and made an integral part
hereof.
413
Copies of the purchase invoices are attached hereto as Annexes "QQQQQQ-1" to
"QQQQQQ-g," respectively and made integral parts hereof.
406
001101
SEC
Complaint-Affidavit
VS. Angeles, ef a/.
Page 53 of 78
40.16.
On 6 June 2012, Respondent Vistan, through his account
He
BOO bank account.414 Nieves Securities also issued purchase
415
invoices
covering these transactions which were received by
Respondent Vistan.
40.17.
On 7 June 2012,
Respondent
Vistan,
through
Nieves
5,145,800
CAL shares
amounting
to P57,242,494.77.
Nieves
13 June 2012416covering this amount417 and deposited418 the same
into Respondent Vistan's BOO bank account # 6848004583. The
confirmation invoices419covering these transactions were signed by
Respondent Vistan.
40.18.
Through a letter dated 8 June 2012,420 Respondent Vistan
transferred,
via
EQ
trade,421 16,000,000 ,CAL
shares
from
Unicapital Securities into his account with Nieves Securities.
40.19.
On 8 June
2012,
Respondent
Vistan,
through
Nieves
Securities,
2,382,300
CAL shares
amounting
to P28,073,240.76.
Nieves
.14June 2012422covering this amount423and deposited424 the same
414
A copy of the receipt is attached hereto as Annex "RRRRRR" and made an integral part
hereof.
415
Copies of the purchase invoices are attached hereto as Annexes "RRRRRR-1" to
"RRRRRR-9," respectively and made integral parts hereof.
416
A copy of the check dated 13 June 2012 is attached hereto as Annex "SSSSSS" and
417
A copy of the check voucher is attached hereto as Annex "SSSSSS-1" and made an
416
A copy of the deposit slip is attached hereto as Annex "SSSSSS-2" and made an integral
r,art hereof.
19
Copies of the confirmation invoices are attached hereto as Annexes "SSSSSS-3" to
"SSSSSS-31," respectively and made integral parts hereof.
.
420
A copy of the letter dated 8June 2012 is attached hereto as Annex "-1-I -I 1-1-1" and made
421
A copy of the Out receipt is attached hereto as Annex .•I 1I I I 1-1" and made an integral
part hereof.
422
A copy of the check dated 14 June 2012 is attached hereto as Annex "UUUUUU" and
0011U0
SEC
Complaint-Affidavit
VS. Ange/es, et at.
Page 54 of 78
into Respondent Vistan's BDO bank account # 6848004583. The
confirmation invoices425covering these transactions were signed by
Respondent Vistan.
40.20.
Through a leiter dated 18 June 2012,426 Respondent Vistan
40.21.
Through another leiter dated 18 June 2012,428 Respondent
Vistan transferred, via EO trade,429 4,000,000 CAL shares from
40.22.
Through another leiter dated 18 June 2012,430 Respondent
Vistan transferred, via EO trade,431 6,000,000 CAL shares from
Nieves Securities into his account with HDI Securities.
40.23.
Vistan,
through
Tower
1,082,400
CAL
shares
amounting
to P44,258,207.58.
Tower
22 June 2012432covering this amount433 and deposited434 the same
into Respondent Vistan's BDO bank account # 6848004583. The
A copy of the check voucher is attached hereto as Annex "UUUUUU-1" and made an
'
..
.
424
A copy of the deposit slip is attached hereto as Annex "UUUUUU-2" and made an
425
Copies of the confirmation invoices are attached hereto as Annexes "UUUUUU-3" to
"UUUUUU-19," respectively and made integral parts hereof .
• 26
A copy of the letter dated 18 June 2012 is attached hereto as Annex "VVWVV' and
427
"VVVVW-1" to "VVVVW-2," respectively and made integral parts hereof.
.28
A copy of the letter dated 18 June 2012 is attached hereto as Annex 'WWWWWW" and
429
'WWWWWW-1" to 'WWWWWW-2:' respectively and made integral parts hereof.
430
A copy of the letter dated 18 June 2012 is attached hereto as Annex "XXXXXX" and
'31
"XXXXXX-1" to "XXXXXX-2," respectively and made integral parts hereof.
432
A copy of the check dated 22 June 2012 is attached hereto as Annex "YYYYYY' and
433
A copy of the check voucher is attached hereto as Annex "YYYYYY-1" and made an
.
434
A copy of the deposit slip is attached hereto as Annex "YYYYYY-2" and made an integral
part hereof.
423
001098
Compiaint-Affidavit
Page 55 of 78
435
delivery receipts
covering these transactions were received by
Respondent Vistan.
40.24.
On
19 June
2012,
Respondent
Vistan,
through
HOI
2,200,000
CAL
shares
amounting
to
P25,723,754.06.
HOI
436
covering this amount437 and deposited438 the same
22 June 2012
into Respondent
Vistan's
BOO bank account
# 6848004583.
Respondent Vistan sent an e-mail to HOI Securities on 22 June
439
2012
instructing them to deposit all checks due him to his BOO
bank account. HOI Securities ~Iso issued confirmation receipts440
40.25.
On 20 June 2012, Respondent. Vistan,
Securities, made sell orders ihroughout
through
Tower
the day for a total of
718,200 CAL shares amounting to P7,354, 128.23. Tower Securities
issued in favor of Respondent Vistan a BOO check dated 25 June
441
2012
covering this amount442 and deposited443 the same into
Respondent
Vistan's
444
delivery receipts
The
covering these transactions were received by
Respondent Vistan.
40.26.
On
Securities,
20
June
2012,
Respondent
Vistan,
through
HOI
435
Copies of the delivery receipts are attached hereto as Annexes "YYYYYY -3" to
"YYYYYY -13," respectively and made integral parts hereof.
436
A copy of the check dated 22 June 2012 is attached hereto as Annex "zzzzzz' and
437
A copy of the check voucher is attached h'ereto as Annex "Z7ZZZ7-1" and made an
'
438
A copy of the deposit slip is attached hereto as Annex "ZZZZZZ-2" and made an integral
part hereof.
439
A copy of the e-mail dated 22 June 2012 is attached hereto as Annex "ZZZZZZ-3" and
440
Copies of the confirmation receipts are attached hereto as Annexes "ZZZZZZ -4!' to
"ZZZZZZ-13," respectively and made integral parts hereof.
441
A copy of the check dated 25 June 2012 is attached hereto as Annex "AAAAAAA" and
442
A copy of the check voucher is attached hereto as Annex "AAAAAAA-1" and made an
443
A copy of the deposit slip is attached hereto as Annex "AAAAAAA-2" and made an
integral part hereof. "
444
Copies of the delivery receipts are attached hereto as Annexes "AAAAAAA-3" to
"AAAAAAA-5," respectively and made integral parts hereof.
0010D8
Complaint-Affidavit
Page 56 of 78
2012445 covering this amount446 and deposited447 the same into
Respondent Vistan's BOO bank account # 6848004583.
HOI
Securities also issued confirmation receipts448 covering these
transactions.
40.27.
On 21 June 2012, Respondent Vistan, through Tower
253,300 CAL shares amountingto P2,447,363.53. Tower Securities
2012449 covering this amount4SO and deposited451 the same into
The
Respondent Vistan.
40.28.
On 21 June 2012,
Respondent Vistan, through HOI
HOI
Securities also issued confirmation receipts456 covering these
transactions.
445
A copy of the check dated 25 June 2012 is attached hereto as Annex "BBBBBBB" and
446
A copy of the check voucher is attached hereto as Annex "BBBBBBB-1" and made an
447
A copy of the deposit slip is attached hereto as Annex "BBBBBBB-2" and made an
.
448
Copies of the confirmation receipts are attached hereto as Annexes "BBBBBBB-3" to
"BBBBBBB-6," respectively and made integral parts hereof.
449
A copy of the check dated 26 June 2012 is attached hereto as Annex "CCCCCCC" and
450
A copy of the check voucher is attached hereto as Annex "CCCCCCC-1" and made an
.
.
451
A copy of the deposit slip is attached hereto as Annex "CCCCCCC-2" and made an
452
Copies of the delivery receipts are attached hereto as Annexes "CCCCCCC-3" to
"CCCCCCC-4," respectively and made integral parts hereof.
453
A copy of the check dated 26 June 2012 is attached hereto as Annex "DDDDDDD" and
454
A copy of the check voucher is attached hereto as Annex "DDDDDDD-1" and made an
integral part hereof..
.
455
A copy of the deposit slip is attached hereto as Annex "DDDDDDD-2" and made an
456
Copies of the confirmation receipts are attached hereto as Annexes "DDDDDDD-3" to
"DDDDDDD-6," respectively and made integral parts hereof.
00109'1
Complaint-Affidavit
Page 57 of 78
40.29.
On
3 July
Securities,
2012,
Respondent
Vistan,
through
Tower
issued in favor of Respondent Vistan a BOO check dated 6 July
Respondent
Vistan's
The
Respondent Vistan.
40.30.
On 3 July 2012, Respondent Vistan, through HOI Securities,
shares amounting to P5,329,641.54. HOI Securities issued in favor
of Respondent Vistan a BOO check dated 6 July 2012461 covering
this amount462 and deposited463 the same into Respondent Vistan's
HOI Securities also issued
confirmation receipts464 covering these transactions.
40.31.
On
Securities,
4 July
2012,
Respondent
Vistan,
through
Tower
issued in favor of Respondent Vistan a BOO check dated 9 July
Respondent
Vistan's
The
457
A copy of the check dated 6 July 2012 is attached hereto as Annex "EEEEEEE" and
458
A copy of the check voucher is attached hereto as Annex "EEEEEEE-1" and made an
459
A copy of the deposit slip is attached hereto as Annex "EEEEEEE-2" and made an
.
460
Copies of the delivery receipts are attached hereto as Annexes "EEEEEEE'3" to
"EEEEEEE-5," respectively and made integral parts hereof.
461
A copy of the check dated 6 Juiy 2012 is attached hereto as Annex "FFFFFFF" and made
.
462
A copy of the check voucher is attached hereto as Annex "FFFFFFF-1" and made an
4<l3
A copy of the deposit slip is attached hereto as Annex "FFFFFFF-2" and made an integral
part hereof.
464
Copies of the confirmation receipts are attached hereto as Annexes "FFFFFFF-3" to
"FFFFFFF-9," respectively and made integral parts hereof.
465
A copy of the check dated 9 July 2012 is attached hereto as Annex "GGGGGGG" and
.
466
A copy of the check voucher is attached hereto as Annex "GGGGGGG-1" and made an
'
467
A copy of the deposit slip is attached hereto as Annex "GGGGGGG-2" and made an
.
SEC
0010"
'.).'.
'.
" U
Complaint-Affidavit
VS. Angeles, et al.
Page 58 of 78
delivery receipts covering these transactions were received by
Respondent Vistan.468
40.32.
On 4July 2012, Respondent Vistan, through HOI Securities,
made sell orders throughout the day for a total of 1,600,000
shares amounting to P14,889,481.53.
favor of Respondent Vistan a~OO
470
covering this amount
CAL
HOI Securities issued in
check dated 9 July 2012469
and deposited471 the same into Respondent
Vistan's BOO bank account # 6848004583.
HOI Securities also
issued confirmation receipts472 covering these transactions.
40.33.
On 5 July 2012, Respondent Vistan, through HOI Securities,
made sell orders throughout the day for a total of 607,000
shares amounting to P5,625,014.47.
CAL
HOI Securities issued in favor
of Respondent Vistan a BOO check dated 10 July 2012473 covering
474
this amount
and deposited475 the same into Respondent Vistan's
second BOO bank account # 5668007620.
Respondent Vistan also
sent an e-mail dated 13 July 2012476 requesting for a copy of the
deposit slip covering these transactions. HOI Securities also issued
confirmation receipts477 covering these transactions.
41.
For his orders to Sunsecurities, Respondent Vistan would give his
orders for CAL shares through Respondent Zulueta who would call Davidson
Yeh, the salesman of Sunsecurities handling their accounts, to give his and
Respondent Vistan's orders.478
For his orders to other brokers, Respondent
Vistan would call the salesman assigned to his account, such as the house
468
Copies of the delivery receipts are attached hereto as Annexes "GGGGGGG-3" to
"GGGGGGG-5," respectively and made integral parts hereof.
469
A copy of the check dated 9 July 2012 is attached hereto as Annex "HHHHHHH" and
470
A copy of the check voucher is attached hereto as Annex "HHHHHHH-1". and made an
471
A copy of the deposit slip is attached hereto as Annex "HHHHHHH-2" and made an
472
Copies of the confirmation receipts are attached hereto as Annexes "HHHHHH-3" to
"HHHHHHH-10," respectively and made integral parts hereof.
473
A copy of the check dated 10 July 2012 is attached hereto as Annex "1111111"
and made an
.
474
~art hereof.
75
hereof.
476
A copy of the e-mail dated 13 July 2012 is attached hereto as Annex "1111111-3"
and made
477
Copies of the confirmation receipts are attached hereto as Annexes "1111111-4"
to "1111111-7,"
47'
SEC
00108~j
Complaint-Affidavit
VS. Ange/es, et at.
Page 59 of 78
traders of Nieves Securities Thomson Brian Phoa and Amelie Colobong,479'
Bruce Sio from Tower Securities480 and Aldrich Sevilla from HOI Securities, to
give his orders. All these orders were then executed by the aforementioned
house traders and/or salesman.
RESPONDENT ZANDRO ZULUETA'S TRANSACTIONS
42.
Zulueta transacted CAL shares during the subject period and even afterwards as
follows:
42.1.
Sometime in May 2012, Respondent Zulueta opened client
accounts with Sunsecurities,481 Nieves Securities482 and Unicapital
Securities.483 For more than two years prior to this, Respondent
Zulueta already opened a client account with Tower Securities484 as
a house account but around two years ago, he called up Bruce Sio
to handle his account for Tower Securities.485 For all these brokers,
Respondent Zulueta submitted his filled-up CAlFs and photocopies
of his government-issued photo IDs. Specifically, he also submitted
to Sunsecurities
the CAlFs
and accompanying
documents of
Respondents Bunag, Isip, Martin and Vistan along with his.486 He
also opened a joint-account with Respondent. Angeles at Nieves
Securities as mentioned earlier.487
42.2.
Through a letter dated 7 May 2012,488 Respondent Zulueta
transferred, via EO trade, 12,500,000 CAL shares from POTC into
his account with Unicapital Securities.
479
See Annex "RRRRRRR."
481
A copy of Respondent Zuiueta's Sunsecurities CAlF with copies of his government
issued IDs is attached hereto as Annex "JJJJJJJ" and made an integral part hereof.
482
See Annex "N".
483
A copy of Respondent Zulueta's Unicapital Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "JJJJJJJ-1" and made an integral part hereof.
484
A copy of Respondent Zulueta's Tower Securities CAlF with copies of his government
issued IDs is attached hereto as Annex "JJJJJJJ-1" and made an integral part hereof.
485
486
487
4BB
See Annex "KKK".
480
001094
Complaint-Affidavit
Page 60 of 78
42.3.
On 14 May 2012, Respondent Zulueta purchased 25,500
CAL shares from the IPO from Unicapital Securities for the amount
of P191 ,250 and was issued a receipt.489 A Debit mem0490 and In
491
receipt
were also issued which reflected the addition of such
shares into his client account under Unicapital Securities.
42.4.
As earlier mentioned, thr()ugh a letter dated 4 June 2012,492
Respondent Zulueta transferred,
via EO trade, 6,424,300 CAL
shares from Sunsecurities into his joint account with Respondent
Angeles at Nieves Securities.
Stock Debit Mem0493 reflecting
Tne
this transfer was received by Respondent Morfe.
42.5.
On 1 June 2012, Respondent Zulueta, through his account
of 6,424,300 CAL shares amounting to P134,045,094.73. He paid
for these buy orders through a BOO (Pulilan, Bulacan branch)
check no. 153021 on 5 June 2012 and deposited494 the same into
Sunsecurities' BOO. bank account. The
invoices496 covering these transactions
receipt495 and
were
received
buy
by
Respondent Ocampo on behalf of Respondent Zulueta.
42.6.
As earlier
mentioned,497 on 4 June 2012,
Respondent
Zulueta and Respondent Angeles, through their joint account with
Nieves Securities, made sell orders throughout the day for a total of
8,896,400
to P187,536,324.46.
Nieves
Securities issued in favor of Respondents Zulueta and Angeles, a
BOO check dated 7 June 2012498as payment for this said amount.
489
A copy of the receipt is attached hereto as Annex "KKKKKKK" and made an integral part
hereof.
A copy of the Debit memo is attached hereto as Annex "KKKKKKK-1" and made an
491
A copy of the In receipt is attached hereto as Annex "KKKKKKK-2" and made an integral
part hereof.
.
492
See Annex 'T'.
493
See Annex "T-1".
494
A copy of the deposit slip dated 1 June 2012 is attached hereto as Annex "LLLLLLL" and
495
A copy of the receipt is attached hereto as Annex "LLLLLLL-1" and made an integral part
hereof.
496
Copies of the buy invoices are attached hereto as Annexes "LLLLLLL-2" to "LLLLLLL-9,"
497
See page 12. par. 28.7.
498
See Annex "U".
490
498
001093
Complaint-Affidavit
Page 61 of 78
This check was picked up or received by an unidentified person on
behalf of Respondents Angeles and Zulueta and was deposited into
. Respondent Angeles' BOO bank account # 6848004702. Nieves
Securities issued a Check voucher499 reflecting the check payment
and Sales invoices50ocovering these transactions.
42.7.
Through a letter dated 20 June 2012,501Respondent Zulueta .
transferred, via EQ trade,502 475,400 CAL shares from Unicapital
into his client account with Tower Securities.
42.8.
On 22 June 2012, Respondent Zulueta, through Tower
issued in favor of Respondent Zulueta a BOO check dated 22 June
503
2012
covering this amount504 and deposited505 the same into
Respondent Zulueta's second BOO bank account # 2238008977.
The delivery receipt506 covering this transaction was signed by
Respondent Zulueta.
43.
For his orders to Sunsecurities, Respondent Zulueta would give his
own orders for CAL shares as well the orders of Respondents Bunag, Isip, Martin
and Vistan by calling Davidson Yeh, the salesman of Sunsecurities handling their
50l
accounts.
For his orders to Nieves Securities, Respondent Zulueta would call
the house traders of Nieves Securities, Thomson
Brian Phoa and Amelie
Colobong, to give his and Respondent Angeles' orders for their joint account.50B
For his orders to Tower Securities, Respondent Zulueta would call Bruce Sio
from Tower Securities and give his orders as well as Respondent Taboso's
499
See Annex "U-1".
See Annexes "U-2" to."U-1T.
501
A copy of the letter dated 20 June 2012 is attached hereto as Annex "MMMMMMM" and
502
A copy of the Out receipt is attached hereto as Annex "MMMMMMM-1" and made an
503
A copy of the check dated 22 June 2012 is attached hereto as Annex "NNNNNNN" and
504
A copy of the check voucher is attached hereto as Annex "NNNNNNN-1" and made an
505
A copy of the deposit slip is attached hereto as Annex "NNNNNNN-2" and made an
506
A copy of the delivery receipt is attached hereto as Annex "NNNNNNN-3" and made an
507
50'
500
00108(;
SEC
Complaint-Affidavit
VS. Ange/es, et a/.
Page 62 of 78
orders as the lalter's authorized representative.509 All these orders were then
executed by the aforementioned house traders and/or salesman.
DISCUSSION OF MARKET MANIPULATION
1.
Sections 24(b)(i) and (iii) of the SRC reads:
"Section 24. Manipulation of Security Prices;
Devices and Practices. - 24.1. It shall be unlawful for any
person acting for himself or through a dealer or broker,.
directly or indirectly:
xxx.
(b) To effect, alone or with. others, a series of
transactions in securities that,
(i) Raises their price to induce the purchase of a
security, whether of the same or a different class of
the same issuer or of a controlling, controlled, or
commonly controlled company by others;
xxx
(iii) Creates active trading to induce such a purchase
or sale through manipulative devices such as marking
the close, painting the tape, squeezing the float, hype
and dump, boiler room operations and such other
similar devices."
2.
"Painting the Tape," "Hype and Dump" and other types of market
manipulation are also defined under SRC Rule 24.1 (b)-1 as follows:
"Engaging in a series of transactions in securities
that are reported publicly to give the impression of
activity or price movement in a security (e.g. painting the
tape);
xxx
Engaging in buying activity at increasingly higher
prices and then selling securities in the market at the
higher prices (hype and dump);
xx
X
;
Other types of prohibited conduct
and/or
manipulative practices which include, among others, the
creation of temporary funds for the purpose of engaging
in other manipulative practices."
509
001081
SEC
VS.
Angeles, et a/.
Page 63 of 78
3.
Violations of the foregoing provision are punishable criminally under
Section 73 of the SRC as follows:
"Section 73. Penalties - Any person who violates any of
the provisions of this Code, or the rules and regulations
promulgated by the Commission under authority thereof, or any
person who, in a registration statement filed under this Code,
makes any untrue statement of a material fact or omits to state
any material fact required to be stated therein or necessary to
make the statements therein not misleading, shall, upon
conviction, suffer a fine of not less than Fifty thousand pesos
(P50,OOO.OO)nor more than Five million pesos (P5,OOO,OOO.OO)
or imprisonment of not less than seven (7) years nor more than
twenty- one (21) years, or both in the discretion of the court. If
the offender is a corporation, partnership or association or other
juridical entity, the penalty may in the discretion of the court be
imposed upon such juridical entity and upon the officer or
officers of the corporation, partnership, association or entity
responsible for the violation, and if such officer is an alien, he
shall in addition to the penalties prescribed, be deported without
further proceedings after service of sentence."
4.
Given the pattern of transactions composed of buy and sell orders
and EQ trades of CAL shares entered into by the Respondents through multiple
brokers,51o and the fact that there were no significant disclosures which would
significantly
affect the price of CAL shares during the subject
period as
concluded by the IPSD, it is evident that Respondents engaged in manipulative
devices such as, "painting the tape" and "hype and dump," among others, in
. Copies of the Account and Security Ledgers of Respondent Angeles with the various
brokers are attached hereto as Annexes "UUUUUUU" - "UUUUUUU-1," respectively and made
an integral part hereof;
Copies of the Account and Security Ledgers of Respondent Bunag with the various
brokers are attached hereto as Annexes 'VVWWV"
- 'VVVWW-3,"
respectively and made an
integral part hereof;
Copies of the Account and Security Ledgers of Respondent Dellosa with the various
brokers are attached hereto as Annexes 'WWWWWWW" - "VWWWWWWW-2," respectively and
made an integral part hereof;
Copies of the Account and Security Ledgers of Respondent Isip with the various brokers
are attached hereto as Annexes "XXXXXXX" - "XXXXXXX-5," respectively and made an integral
part hereof;
Copies of the Account and Security Ledgers of Respondent Martin with the various
brokers are attached hereto as Annexes "YYYYYYY" - "VYYYYYY-5," respectively and made an
Copies of the Account and Security Ledgers of Respondent Taboso with the various
brokers are attached hereto as Annexes "zzzzzzz' - "ZZZZZZZ-4," respectively and made an
Copies of the Account and Security Ledgers of Respondent Vistan with the various
brokers are attached hereto as Annexes "AAAAAAAA" - "AAAAAAAA-4," respectively and made
an integral part hereof;
Copies of the Account and Security Ledgers of Respondent Zulueta with the various
brokers are attached hereto as Annexes "BBBBBBBB" - "BBBBBBBB-3," respectively and made
510
SEC
001030
Complaint-Affidavit
vs. Ange/es, et a/.
Page 64 of 78
order to spur increased trading activity of CAL shares and artificially increase
their price.
5.
As previously mentioned, Respondents bought 72,418,700 CAL
shares which accounts for 32.95% of the total shares bought during the relevant
period. To provide perspective, CAL's IPO only had a volume of 36,012,000
shares. This means that for the subject period, a total of 219,756,850 CAL
shares or roughly six (6) times its IPO volume was bought. This level of activity is
unprecedented
for a relatively unknown
upstart corporation
which
had no
significant disclosures for the subject period that could explain the volumes of its
shares traded. On account of such activity, CAL's share price enjoyed a 225.85%
cumulative increase as it rocketed from an initial low of P7.35 on 24 May 2012 to
a peak of P23.95 on 4 June 2012. On 30 October 2012, CAL shares closed at
P5.99. Undoubtedly, the concerted efforts of Respondents, in executing multiple
buy transactions through Sun Securities, Nieves Securities and Tower Securities
resulted in their purchasing 32.95% of the total volume of shares bought during
the subject period, gave the impression to the public that CAL was being heavily
traded at the PSE. This naturally induced the public to invest in the same which
only served
to artificially
increase
its price. Verily, through
this scheme,
Respondents unlawfully engaged in "painting the tape".
6.
Aside
from the high-volume
nature of the buy transactions
executed by the Respondents, the frequency and timing of the said transactions
also support a finding of market manipulation through hype and dump. It can be
readily observed that the buy transactions entered into by the Respondents are
mostly "buy-ups" or near "buy-ups" which mean that they offered to buy CAL
shares higher than or close to the last traded price. This necessarily leads to an
upward movement of the share price as was indeed reflected in the Technistock
graph tracking the activity of CAL shares during the subject period. "Buy-ups"
also imply the posting of multiple buy orders at increasing prices throughout the
trading day to adjust for changes in the last traded price and sustain the upward
movement of the price. This observation is consistent with the common 'testimony
of the salesmen of the Subject Brokers that the Respondents would call them
multiple times a day, sometimes even more than twenty (20) times, to post
various buy orders with different prices. Clearly, this scheme falls under the
definition of "hype" or engaging in buying activity at increasingly higher prices for
the purpose of raising share prices which is explicitly prohibited under the SRC.
After the Respondents achieved record peaks for the price of CAL shares, they
SEC
001009
Complaint-Affidavit
VS. Angeles, et al.
Page 65 of 78
started dumping their shares to the public by selling them at price levels above
their acquisition price.
7.
To maximize their dumping activity and dampen the downward
movement of the price of CAL shares during this selling spree, Respondents
systematically used EO trades to distribute the shares they held either pre-IPQ or .
through their "painting the tape" and "hype" buying activities to at least four (4)
brokers, namely Nieves Securities, HDI Securities, Venture Securities and Tower
Securities, in order to deceive the public into thinking that the shares were being
sold by different owners in due course, as opposed to the truth that they were
being unloaded by an organized group which would have accelerated the fall of
the price had the public become aware of this plot. Through
Respondents
shares
were able to sell 86,988,200 CAL shares or 38.47% of the total
sold
for
P216,054,949.65
manipulating
this scheme,
the
which
subject
provided
period
and
enjoyed
a
net
them
with
more
funds
to
the price of CAL shares even beyond the subject
they did in fact still continued
to buy and sell shares afterwards.
gain
of
continue
period, as
This phase
of their scheme falls under the catch-all provision of the SRC which prohibits
"other types of prohibited conduct and/or manipulative practices which include,
among others, the creation of temporary funds for the purpose of engaging in
other manipulative practices." The breakdown of the Respondents'
individual
gains from trading CAL shares just for the subject period are as follows:
Beneficial
Owner
Shares Bought
and Value
DENNIS
12,616,800
PHILIPPE
P136,277,035.7~
VISTAN
ARNOLD
20,224,600
D.
P329,974,590.8!
MARTIN
RICHIE
7,389,300
RAMILLE
P77,874,098.89
ISIP'
GARRY
TABOSO'
ZANDRO
6,406,300
ZULUETA P133,712,379.31
MICHAEL
ANGELESI
5,542,700
ZANDRO P121 ,887,269.8~
ZULUETA
MICHAEL
ANGELES
001088
Summary of Trades
(From 23 May - 8 June 2012)
IPO shares
Shares Sold
Utilized
and
and Value
Value"
Total Gainlloss
Remaining
Shares
(P6,437,451.44)
354,000
(P90,003,266.25)
2,266,500
12,262,800
P129,839,584.36
-
17,958,100
P239,971,324.64
-
9,482,700
P142,556,912.39
9,500,000
P62,474,489.49
P127,157,303.00
7,406,600
12,500,000
P200,499,285.08
12,500,000
P 39,072,573.38
P239,571 ,858.46
-
-
-
8,896,400
P185,343,893.97
4,013,100
P51,965,025.41
(P133,712,379.31
6,406,300
-
P63,456,624.13
(3,353,700)
2,440,000
P9,564,800.00
P61,529,825.41
(1,573,100)
Complaint-Affidavit
SEC vs. Ange/es, et a/.
Page 66 of 78
•
ARNOLD
RYAN
DELLOSA
•
CARMELO
BUNAG'
TOTAL
11,366,300
P225,387,812.3f
12,847,600
P203,431,724.36
2,440,000
P 4,636,000.00
(P17,320,088.02)
958,700
8,872,700
P111,221,233.5f
6,584,700
P98,486,553.42
2,440,000
P(15,452,796.16)
(P28,187,476.32)
4,728,000
• Beneficial Owners who utilized IPO CAL shares
•• IPO CAL shares are valued at the IPO price of P7.50
CONSPIRACY
8.
BETWEEN
P216,054,949.65
RESPONDENTS
These various manipulative devices employed by the Respondents,
though executed individually, were clearly co()rdinated and intended to have a
significant impact on the behavior of the volumes traded and prices of CAL
shares to the public's detriment.
9.
Article 8 of the Revised Penal Code defines conspiracy, as follows:
"A conspiracy exists when two or more persons
come to an agreement concerning the commission of a
felony and decide to commit it."
The elements of conspiracy were discussed in People v. Fegidero,511to
wit:
''The elements of conspiracy are the following: (1)
two or more persons came to an agreement, (2) the
agreement concerned the commission of a felony, and
(3) the execution of the felony was decided upon. Proof
of the conspiracy need not be based on direct evidence,
because it may be inferred from the parties' conduct
indicating a common understanding among themselves
with respect to the commission of the crime. Neither is it
necessary to show that two or more persons met
together and entered into an explicit agreement setting
out the details of an unlawful scheme or objective to be
carried out. The conspiracy may be deduced from the
mode or manner in which the crime was perpetrated;
it may also be inferred from the acts of the accused
evincing a joint or common purpose and design,
concerted action and community of interest."
In view of the mode and manner by which the market manipulation of CAL
shares was committed during subject period and even sometime thereafter, as
well as the individual acts and respective backgrounds olthe Respondents, it can
511
GR No. 113446,
4 August
2000.
Complaint-Affidavit
0010[;'/
Page 67 of 78
be concluded that they acted in conspiracy with one another to carry out their
scheme.
10.
Considering that the transactions involved in this matter are in the
millions, it bears noting that the financial background of Respondents Angeles,
8unag,
Dellosa and Martin would not have enabled them to carry out this
512
scheme by themselves.
Respondent Angeles' given address in his CAlF is
located in a depressed area populated with informal settlers with a makeshift
two-story
house with a floor area of approximately
15 sq. m. Respondent
8unag's given address in his CAlF is located also in a depressed area in Makati
with a two-story structure, approximately 15 sq,m. and made of light construction
materials, which is owned by his parents. Respondent Dellosa's given address in
his CAlF is located at a residential/commercial
story, bungalow-type
area in 8ulacan with a single
house that sits on a lot of approximately 90 sq. m. and
owned by his parents. Respondent Dellosa is also registered with the DTI as the
owner of a Sari-sari store. Respondent Martin's given address in his CAlF is
located in a residential/agricultural
area with, a single-story
house made of
concrete that sits on a lot approximately 60 sq'm. owned by his parents. Clearly,
these
individuals
would
not have the financial
means to commit
market
manipulation of CAL shares by themselves.
11.
On the other hand, Respondents Isip, Taboso, Vistan and Zulueta,
being pre-IPO holders of several millions of shares of CAL, can be said to
possess the means and financial capability
to finance the participation
of
Respondents Angeles, 8unag, Dellosa and Martin through their independent
holdings or rolling over the proceeds of their scheme. However, this observation
does not preclude the participation of other unnamed individuals who may have
also funded the scheme. Additionally, given their vast experience and knowledge
in the stock trading industry, being affiliated with Absolute Traders, Respondents
Zulueta and Tciboso possess the technical know-how to plan and implement the
scheme to manipulate the price of CAL shares through "hype and dump,"
"painting the tape" and other manipulative devices.
12.
Additionally, the following information gathered from the brokers
during the investigation prove that the Respondents were in conspiracy with one
another in carrying out the market manipulation of CAL shares:
512
See Annex "J".
DO'l,GOCO:,)0
Complaint-Affidavit
Page 68 of 78
SUNSECURITIES
I.
Respondents
Bunag,
Isip, Martin,
Vistan and
Zulueta
were
confirmed to be clients of Sunsecurities and made buy and sell
orders of CAL shares during the subject period as well as.
outbound EO trades.
II. Davidson Yeh, a trader of Sun securities, identified Respondent
Zulueta
as the person
who
opened
several
accounts
with
Sunsecurities which include Respondents Bunag, Isip, Martin and
513
Vistan.
According to Mr. Yeh, Mr. Zulueta was the only one who
gave instructions as to the CAL shares to be bought or sold on
behalf
of
these
Respondents
Zulueta's
individuals.
Mr.
Yeh
said
he
never
met
Bunag, Isip and Martin and only relied on Mr.
representations
since the latter and Mr. Yeh were
classmates in a class organized by Absolute Traders years ago.
III. The following buy orders of different Respondents were paid for
using a series of checks from the same checkbook and traced to
an account in BOO-Pulilan Bulacan branch:
Oate of
Order
30
May
29
May
28
Mav
25
May
28
Mav
31
Mav
1
June
Volume of
Shares
4,085,000
Amount
(PhD)
54,173,133.83
5,366,100
46,213,321.13
1,466,700
13,874,473.90
2,297,500
9,717,773.06
215,000
2,027,512.80
4,345,600
60,111,374.96
6,424,300
134,045,094.73
IV.
Beneficial Owner's
Bank Account or
Beneficial Owner
.
Check No.
Carmelo Bunag
K:;heckNo. 153013
BOO-Pulilan
Richie Ramille F. Isip ~heck No. 153011
300-Pulilan
Richie Ramille F. Isip ~heck No. 153006
300-Pulilan
Arnold O. Martin
~heck No. 0153004
300-Pulilan
Arnold O. Martin
~heck No. 0153005
300.Pulilan
Arnold O. Martin
pheck No. 153019
BOO-Pulilan
Zanqro Zulueta
pheck No. 153021
!sOO-Pulilan
The following buy orders of Respondents Martin and Vistan were
paid for using a series of checks from the same checkbook also
traced to BOO-Pulilan:
513
A copyof DavidsonYeh'saffidavitis attachedheretoas Annex"0000000"
an integralparthereof.
001085
andmade
Complaint-Affidavit
SEC
VS.
Angeles, et al.
Page69 of 78
Date of
Order
23
May
24
May
23
May
V.
Volume of
Shares
2,360,000
Amount
iPhp)
14,829,885.71
177,900
1,358,671.76
5,088,700
38,818,927.39
All confirmation
some
checks
Beneficial Owner's
Bank Account or
Check No.
Arnold D. Martin ~heck No. 10829,
BDO-Pulilan
Arnold D. Martin ~heck No. 108300
BbO-Puliian
Dennis V. Vistan Check No. 108292
BDO-Pulilan
Beneficial Owner
invoices, sales invoices, payment receipts and
and vouchers
were
received
by
Respondent
Ocampo. Based on Sunsecurities' delivery log, they were delivered
by Sunsecurities' messenger, Mr. Oliver Lozada, to the 5th Floor,
Enterprise Building, Makati City which is also the location of CAL's
office. Stock Debit Memos representing the EO trades, some Sales
invoices,
checks and vouchers were also delivered to this location
and were received
by Respondent Morle. Respondent Ocampo
and Morle are identified as employees or connected with CAL.
NIEVES SECURITIES
I.
All the Respondents were confirmed to be clients and made buy
and sell orders of CAL shares during the subject period as well as
inbound and outbound EO trades.
II.
Mr.
Phillip
Respondent
Nieves
Huang,
President
of Nieves
Securities,
identified
Martin as the person' who walked in the office of
Securities and who opened his own account as well as
Respondents Dellosa, Isip and Bunag's.514 Respondent Martin said
that these individuals were his friends and that he himself owns
several businesses.
III.
Mr. Phillip Huang also identified Respondent Vistan as another
walk-in client who is based in Bulacan, which is CAL's main base of
operations.
514
A copy of the Summary of Proceedings/Conference signed by Philip Huang is attached
hereto as Annex "PPPPPPP" and made an integral part hereof.
00103.1
Complaint-Affidav~
Page 70 of 78
IV.
Mr. Huang also mentioned that he met Respondents Zulueta and
Taboso four to five years ago during an evenVforum about trading
in the stock market. He said Respondent Zulueta was a lecturer at
that time who specialized in technical analysis of the market and
was !'lffiliated with Absolute Traders. At this time, Respondent
Taboso mentioned that he was a director of a company. Mr. Huang
also got the impression from his meeting with Respondents Zulueta
and Taboso that they knew each other well.
V.
Sometime in late May, Respondeni Zulueta called Mr. Huang to
refer Respondent Angeles as a Client. Eventually, he called again
the same day to clarify that he was opening a joint account with
Respondent Angeles instead.
VI.
House
Traders
confirmed
that
Thomson
Brian
individuals
Phoa and Amelie. Colobong
introducing
themselves
to
be
Respondents Angeles, Bunag, Dellosa, Isip, Martin, Taboso, Vistan
and Zulueta would call and place buy and sell orders of CAL
515
shares.
Zulueta
Ms. Colo bong also said that she knew Respondent
since she previously
attended
classes
organized
by
Absolute Traders.
VII.
The Check Voucher for the 6 June 2012 check for the amount of
91.902,569.49
payable to Respondent Martin was received by
Respondent Ocampo on 5 June 2012.
TOWER SECURITIES
I.
All the Respondents were confirmed to be clients and made sell
orders of CAL shares during the subject period as well as inbound
and outbound EO trades.
II.
Mr. Bruce Sio. the trader of Tower Securities who handled the
accounts of Respondents, said that he personally met Respondent
Dellosa who was a walk-in client sometime during the last week of
515
A copy of the Summary of Proceedings/Conference signed by Thomson Brian Phoa and
Amelie Colo bong is attached hereto as Annex "QQQQQQQ" and made an integral part hereof.
001033
Complaint-Affidavit
Page 71 of 78
516
April 2012.
Respondent Dellosa also said he wanted to bring in
other clients, specifically Respondents Angeles, Bunag, Isip, Martin
and Vistan. Mr. Sio met Respondent
Dellosa again when he
submitted his CAlF along with the CAlF's of the other Respondents.
III.
Mr. Sio also said that it was Respondent Dellosa who would call
him and place the sell orders
Respondents
for his account
as well for
Isip's and Martin'S accounts. Respondent
Dellosa
said that Respondents Isip and Martin were his friends.
IV.
Respondents Bunag, Vistan and Angeles would call to give their
;
own sell orders. Specifically, Respondent Angeles called to confirm
the EO trade of his shares into Tower Securities as contained in the
28 May 2012 letter addressed to Unicapital Securities.
V.
Mr. Sio also stated that he met Respondents Taboso and Zulueta
at an investment briefing around three to four (3-4) years ago at the
PSE. At this event, Mr. Sio noticed that Respondent Taboso was
with
a group
of people
associated
with
Absolute
Traders.
Respondent Zulueta introduced himself as part of Absolute Traders
during this event.
VI.
Respondents Taboso and Zulueta were already clients of Tower
Securities from several years ago as house accounts which meant
that there was no specific trader in-charge of their accounts.
However, two years ago, Respondent Zulueta called Mr. Sio and
requested that he become his trader. Respondent Taboso also
called Mr. Sio with the same instruction around a year and a half
ago. Respondent Taboso also called Mr. Sio sometime during the
first quarter of this year to inform the latter that Respondent Zulueta
will be the one giving instructions concerning trades of CAL shares
on his behalf. Mr. Sio then confirmed that Respondent Zulueta
indeed called him to give instructions on trades of CAL shares for
his and Respondent Taboso's behalf.
516
A copy of Bruce Sio's affidavil is attached hereto as Annex "RRRRRRR" and made an
.
001082
SEC
Complaint-Affidavit
VS. Ange/es, et at.
Page 72 of 78
VII.
The 28 May 2012 letter addressed to Ms. Myrna B. Angeles of
Unicapital Securities (of shares held under Malayan Bank) and
signed by Gregorio B. Delayre contains an instruction to have CAL
shares of Respondents Angeles, Bunag and Dellosa EO traded
from Unicapital Securities to Tower Securities.
VIII.
Checks and various documents related to Respondents' sell orders
of CAL shares coursed through Tower Securities were received by'
the same people: Respondents Ocampo, Eco or Sulit:
Sell Date
Amount
30 May
25,897,338.25
June 2012
31 May.
7,898,305.28
June 2012
24,181,494.52
June 2012
29 May
Beneficial
Check Details
Delivery
OWner
Details
Michael
I. DO Check No. elivery
Angeles
1171432 picked u eceipts
y Glaize Eco on eceived
b
une 2012
laizel Eco on
1 Ma 2012
Michael
I. DO Check No. elivery
Angeles
171445 receive eceipt
y Juvy Ocamp eceived
b
n 5 June 2012
uvy Ocampo
Carmelo C.
Bunag .
171417 picked u
y Juvy Ocamp
n 1 June 2012
eposited
a
etrobank PIi3ride
ulacan on 5 Jun
012
June 2012 Carmelo C. DO Check No.
Bunag
1171458 picked u
y Juvy Ocamp
n 5 June 2012
eposited on
une 2012
30 May 2012 Arnold Ryan DO Check No.
Dellosa
171402 deposite
n 30 May 2012
1 June
5,582,424.07
25 May
1,379,422.26
31 May
19,020,650.04
June 2012
Arnold Ryan DO Check No.
Dellosa
1171446 picked u
y Juvy Ocamp
n 5 June 2012
1 June
32,141,517.21
June 2012
Arnold Ryan
Dellosa
5 June
24,838,354.60
June 2012
Arnold Ryan BOO Check No.
Dellosa
1171498
001081
DO Check No.
171459 picked u
y Juvy Ocamp
n 5 June 2012
SEC
Complaint-Affidavit
VS. Angeles, et a/.
Page 73 of 78
•
deposited
at
BOO on 8 June
6 June
22,821,062.62 11 June 2012 Arnold
Martin
1 June
7 June
3,184,956.69
~ June 2012
8,559,294.28
Garry
Taboso
3 June 2012 Michael
Angeles
8 June
9,610,087.55
4 June 2012 Michael
Angeles
4 June
10,630,510.18 7 June 2012
Garry
Lincoln
Taboso
5 June
21,806,860.16
June 2012
Garry
Lincoln
Taboso
~1 May 2012
Dennis
Philippe
V.Vistan
I.
28 May
6,838,913.91
received by
Juvy
2012
Ocampo on
7 June 2012
BOO Check No. Delivery
1171514
receipts
deposited
at received by
BOO on 11 June Juvy
2012
Ocampo on
7 June 2012
~DO Check No.pelivery
171460 picked u~ eceipt
py Juvy Ocampc eceived
b}
bn 5 June 201; Juvy Ocampc
,nd deposited a on
5 June
BPI
Pia ride 2012
Bulacan Branch or
June 2012
I. BOO Check No. Delivery
1171534 .
receipts
deposited
at received by
BOO on 13 June King
Bryan
2012
Sulit on 13
June 2012
I. BOO Check No. Delivery
1171569
receipts
deposited
at received by
BOO on 14 June King
Bryan
2012
Sulit on 13
June
2012
and
1
Delivery
Receipt
received by
unknown
person on 11
June 2012
BOO Check No. Deiivery
1171480 picked receipt
up
by
Noel received by
Bulagit
on
7 Juvy
June 2012
Ocampo on
5 June 2012
BOO Check No. Delivery
1171499 picked receipts
up
by
Noel received by
Bulagit
on
7 Juvy
June 2012 and Ocampo on
deposited
at 7 June 2012
BOO
Pulilan
Branch
on
8
June 2012
00 Check No.pelivery
1171410 depositec eceipts
on 31 May 2012
eceived
b~
Glaizel Eco on
29 May 2012
18
HOI SECURITIES
001030
Complaint-Affidavit
Page 74 of 78
.'
I~
I.
Respondents
Oellosa,
isip,
Martin,
Taboso
and Vistan
were
confirmed to be clients and made sell orders of CAL shares during
the subject period as well as inbound EO trades. Through these sell
orders,
some made beyond the subject period,
Respondents
zeroed out their CAL shares with HOI Securities.
II.
All of Respondents' transactions for CAL shares were handled by
the same person, Aldrich Sevilla, a salesman from HOI Securities.
III.
of CAL shares coursed through HOI Securities were received by
the same people: Respondents Ocampo or Eco:
Sell
Amount Check Date Beneficial Owner
Date
28
6,857,340.81 31 May
Arnold Daquiz
May
2012
Martin
..
1
38,266,046.~
June
3
6 June
2012
Garry Taboso
10,688,401.1
5
7 June
2012
Garry Taboso
4
June
.
Check Details
Delivery Details
BOO Check No.
Martin informed
0268798 picked up trader Aldrich
by Juvy Ocampo on Sevilla that Juvy
tJune 2012
Ocampo will pick
UP the check
BOO Check No.
0268844 picked up
by Juvy Ocampo on
6 June 2012
BOO Check No. This check and the
0268841 picked up P38.266 M check
by Juvy Ocampo on filso due to Taboso
6 June 2012
was picked up
Juvy Ocampo on
lSamedav (6 June).
VENTURE SECURITIES
I.
Respondents 8unag, Isip, Martin and Taboso were confirmed to be
clients and made sell orders of CAL shares during the subject
period as well as inbound EO trades. Through these sell orders,
some made beyond the subject period, Respondents zeroed out
their CAL shares.
0010'~f9
Complaint-Affidavit
SEC
VS.
Angeles, et a/.
Page 75 of 78 .
.'
.
II.
Mr. Aristotle Reyes517 and Mr. Loreto Balamis51B, an ex-intern and
trader
of Venture
Securities,
respectively,
recall
having
met
Respondents Bunag, Isip, Martin and Taboso at a CAL Investor
Meeting held at the Shangri-la Plaza Hotel Makati sometime during
the third week of May 2012. During this time, they saw the abovenamed Respondents interact with each other. This encounter also
led to these Respondents eventually becoming clients of Venture
Securities.
III.
Mr. Reyes mentioned that he delivered the blank Venture Securities
CAlF forms and picked up the accomplished CAlF forms in front of
the Enterprise Building, Makati, which is where an office of CAL is
located. He also confirmed that Respondents Bunag, Isip, Martin
and Taboso would call or text him to give their sell orders.
IV.
of CAL shares coursed through Venture Securities were received
by the same people, namely, Respondents Ocampo, Sia or Sulit,
as shown in the table below:
Sell
Date
31
May
Amount
Check Date
Beneficial
Check Details
Owner
23,602,788.1 <
June Carmelo Dela Check
No.
012
Cruz Bunag
453156 BDO
Picked up by
Juvy Ocampo on
6 June 2012
Deposited
at
Paseo
Tower
Makati Branch
30
17,926,597.4, 'I
June Richie Ramille Check
No.
May
2012
Isip
453151 BDO
Picked up by
Juvy Ocampo on
4 June 2012
Deposited
at
Bulacan Pulilan
Branch
6
11,745,535.41 11
Arnoid
D. Check
No.
June
une
Martin
453159 BDO
2012
Picked up by
King Bryan R.
Sulit 11 June
2012
"
Delivery Details
Signed
confirmation
invoices over
erasure
of
"Sheryl Sia"
Signed
confirmation
invoices over
erasure
of
"Sheryl Sia"
Signed
confirmation
invoices
by
flGB"
517
A copy of Aristotle Reyes' affidavit is attached hereto as Annex "SSSSSSS" and made an
518
A copy of Loreto Balabis' affidavit is attached hereto as Annex " I I I I I I I" and made an
001078
SEC
Com plaint-Affidavit
VS. Ange/es, et at.
Page 76 of 78
1,454,146.89 13
une
012
Arnold
Martin
8
9,313,355.46 14
June
~une
~012
Arnold
Martin
7
June
Deposited
at
Bulacan Pulilan
Branch
D. Check
No.
453160 BDO
Deposited
by
Venture
D. Check
No.
453161BDO
Deposited
by
Venture
1
30,449,665.2<~
JUnE Garry
June
2012
Taboso
C. .Check
No.
453155 BDO
Picked up by
Juvy Ocampo on
6 June 2012
Deposited
at
Paseo
Tower
Makati Branch
Signed
confirmation
invoices
by
"King Bryan R.
Sulif'
Signed
confirmation
invoices
by
"King Bryan R.
Sulit"
Signed
confirmation
invoices
by
"Sheryl Sia" for
Gary Taboso
UNICAPITAL SECURITIES
I.
Respondents
Dellosa,
Isip, Taboso,
Vistan and Zulueta
were
confirmed to be clients. Respondent Dellosa opened an account
with Unicapital Securities but allegedly did not have any trading
activity. Respondents Isip, Taboso and Vistan had several inbound
and outbound
EO-trades for CAL shares. Respondent
Zulueta
bought into CAL's IPO through Unicapital Securities and had an
inbound EO-trade of his whole pre-IPQ holdings of CAL shares
amounting to 12,500,000 shares.
IV. The 28 May 2012 letter addressed to Ms. Myrna B. Angeles of
Unicapital (of shares held under Malayan Bank) and signed by
Gregorio B. Delayre contains an instruction to have CAL shares of
Respondents
Angeles,
Bunag
and
Dellosa
EO traded
from
Unicapital Securities to Tower Securities.
13.
All told, the foregoing circumstances
exhibit the existence of a
conspiracy or a common understanding among Respondents, as well as other
persons still unidentified, with respect to the commission of the crime of market
manipulation of CAL shares in violation of.Sections 24(b)(i) and (iii) of the SRC .
0010T7
Complaint-Affidavit
SEC
VS.
Angeles. et a/.
Page T7 of 78
I,
••
14.
We are executing this affidavit to attest to the truth of the foregoing
and in support of the charge against Respondents Michael Ilustre Angeles,
Carmelo Dela Cruz Bunag, Arnold Ryan Daquiz Dellosa, Richie Ramille ISip,
Arnold Daquiz Martin, Gary Lincoln Calixtro Taboso, Dennis Philippe Valencia
Vistan, Zandro Jose Sigfrido laki Zulueta, Juvy Ocampo, Glaizel Eco, King
Bryan Sulit, Alvin Morfe, Sheryl Sia, and other persons still unidentified, for
market manipulation under Sections 24(b)(i) and (iii) of the SRC committed in
conspiracy with one another, and such other charges which may be deemed
proper by this Honorable Office based on the facts narrated above.
dM-
ATTY. lEILA 1. LAURETA-AGUSTIN
Affiant
0,--k~_:
.....
ATTY. WilLIAM M. VARIAS
Affiant
ATTY. BEN JOSH
Affi
SUBSCRIPTION/CERTIFICATION
NOV
.2012
.
SUBSCRIBED AND SWORN TO before me, this _
da¥ ~
2012 in /7t/~. . I hereby certify that I have personally examined the affiants
and that am satisfied that they voluntarily executed the foregoing ComplaintAffidavit and fully understood the contents hereof.
p~
.
l'affi~n1~1Wrlos
".
lifor
TIcer
SEC
Complaint-Affidavrt
VS. Angeles, et a/.
Page 78 of 78

complaint affidavit

Transcription

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