Charity groups use new name to evade SEC order

The Securities and Exchange Commission (SEC) is warning the public against investing in offerings by Hasmadai Foundation and two other groups which were found collectively disguising now as Tabernacle House of Worship.

In a statement released Friday, the SEC said the other fraudulent groups are Humanitarian and Spiritual Mission Apostulates of Davao and Asia, and Humanitarian Institute of Technology Corp.

The SEC said it already ordered the three groups and their agents last 21 May to stop soliciting investments from the public to support its “charity missions.”

Tabernacle House

of Worship not registered

“For the information of the public, Tabernacle House of Worship is not registered with the Commission as a Corporation, partnership or One Person Corporation and likewise not authorized to solicit investments from the public,” SEC said.

The SEC said it received information that the Hasmadai Foundation has been announcing on YouTube that it is changing its name to Tabernacle House of Worship as a way to evade the government agency’s cease and desist order.

Video

The SEC said the videos feature a person named Dante “Bobong” Encarnacion Tabusares aka Ralph Jimmy C. Gayatin who speaks about the new name of the foundation.

The government agency urges the public to report investment solicitations by Tabernacle House of Worship through the SEC email at epd@sec.gov.ph.

Apart from email, the public can also talk to officials at SEC’s regional or provincial offices with these addresses: SEC-Davao Extension office at SDC Building, Purok 13, Maa Road, Maa, Davao City; and SEC-Butuan Extension Office at Jose C. Aquino Sr. Sport Complex, Barangay Libertad, J. C. Aquino Avenue, Butuan City.