The Department of Justice (DOJ) has secured the conviction of two officers of Silverion Livestock Trading Corporation for money laundering linked to an alleged illegal investment scheme that promised investors extremely high returns.

In a statement on Friday, the DOJ said the Regional Trial Court in Zamboanga City found the owner and an employee of Silverion Corporation guilty beyond reasonable doubt of violating Republic Act No. 9160, or the Anti-Money Laundering Act.

The case was prosecuted by Alfredo Jimenez of the Office of the City Prosecutor of Zamboanga City.

According to the DOJ, the money laundering charges stemmed from predicate offenses under the Securities Regulation Code, including violations involving the registration of securities, fraudulent transactions, and the registration of brokers and dealers.

Prosecutors said Silverion Corporation operated beyond the scope of its registered business purpose.

While the company’s Articles of Incorporation limited its activities to the wholesale and retail trading of meat products and frozen foods, authorities found that it had been offering unregistered investment contracts to the public without securing the required secondary license.

The accused allegedly lured investors by promising returns of up to 35 percent every 15 days, claiming the profits came from livestock trading operations.

Financial investigation reports prepared through coordination between the Anti-Money Laundering Council and the Securities and Exchange Commission Philippines led authorities to obtain search warrants for two Silverion business locations.

The operations resulted in the seizure of around P17 million believed to be proceeds from illegal investment activities.

The court sentenced the two accused to an indeterminate prison term ranging from four to six years and ordered each to pay a fine of P1.5 million.

The DOJ said the conviction reflects the government’s commitment to pursuing financial crimes and protecting the public from fraudulent investment schemes.