The Department of Justice (DOJ) has recommended criminal charges against Opsytech Corp., its president, and agents for illegally soliciting investments, underscoring the government’s push to protect the public from unregistered investment schemes.

Citing a November 2025 resolution, the Securities and Exchange Commission (SEC) said the state prosecutors found prima facie evidence to charge Opsytech and its president, Carl F. Chao, for violations of Sections 8, 26.3, and 28 of the Securities Regulation Code (SRC), in relation to the Cybercrime Prevention Act. Also implicated were agents Jeffrey Lopez Perez and Brent Bendaña.

The case stemmed from complaints the SEC received about Opsytech’s offering of a business loan agreement to raise capital for capital expenditures.

Under the scheme, Opsytech promised investors monthly returns of two percent to nine percent from a minimum investment of P100,000, with a one-year lock-in period. Postdated checks were issued to guarantee returns.

Sixteen complainants invested around P14.95 million and said they initially received payouts before the checks later bounced or were dishonored due to insufficient funds or closed accounts.

The DOJ held that the business loan agreement was an investment contract and upheld the SEC’s claim that Opsytech lacked authority or registration to sell securities.

“Indeed, respondents Chao, Perez, and Bendaña falsely represented that Opsytech has legitimate projects and business dealings. Unbeknownst to the investors, these were mere parts of an elaborate show on the part of the respondents… to convince them to part with their money,” the resolution read.

“The concerted actions among respondents to deceive the public supports the existence of conspiracy in the commission of this violation,” it added.