After content creator Neri Naig was taken into custody by the authorities for violating RA 8799, or the Securities Regulation Code, several pieces of evidence circulated on social media showing her involvement in the alleged fraudulent company Dermacare.
The video uploaded to social media showed Neri talking to two individuals via video conference.
“Actually apat po ang meeting natin for Dermacare, so pangatlo po kayo,” Neri said.
It can be recalled that Neri’s camp insisted that she was only an endorser of Dermacare and did not directly ask people to invest in the company.
Last year, Neri already distanced herself from Dermacare.
“Hello friends and valued followers. I would like to take this opportunity to inform you all that I am no longer affiliated or associated with Dermacare. It is important for me to make this announcement to ensure transparency and avoid any misunderstandings,” she said.
“I want to emphasize that any transactions or engagements made under my name by Dermacare are unauthorized and have been conducted without my consent. If you come across any instances where my name is being used in connection with Dermacare, I kindly request you to inform me promptly,” she added.
SEC explained that there was a big difference between an endorser and someone who was asking people to invest to a company.
“Sa Securities Regulation Code, ang Section 20 na binanggit po, ang kailangan po kapag ang isa ay involved sa buying and selling ng securities po, investment contracts, etc., e, iyan po ay kailangan nakarehistro sa SEC,” a SEC official said.
“Pero kapag ang sinabi, ‘Mag-ano kayo, magandang investment to, kasi kikita kayo ng ganito, kikita kayo ng 10 percent or something,’ pagkaganon na po, involved na kayo sa buying and selling of securities,” he added.