Cebu firm’s execs indicted over investment solicitation

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December 3, 2025 | 12:00am

MANILA, Philippines — The Department of Justice has recommended the filing of charges against two officers of a company based in Cebu for allegedly engaging in illegal solicitation of investments.

The charges against Rosemarie Mayorga and Jefferson Acas, president and corporate secretary of Fergus Inc., respectively, stemmed from a complaint filed by the Securities and Exchange Commission (SEC).

The DOJ said it found prima facie evidence to charge Mayorga and Acas for allegedly violating the Securities Regulation Code in relation to the Cybercrime Prevention Act.

The filing of criminal charges was also based on the recommendations of state prosecutors, who said the respondents violated the Financial Products and Services Consumer Protection Act.

State prosecutors affirmed the findings of the SEC that the company was engaged in selling securities even as it lacked a secondary license required to operate as broker and dealer of securities.

The SEC said the case stemmed from a complaint filed by Padlan Salvador & Associates before the National Bureau of Investigation (NBI) .

The complainants told the NBI that Fergus Inc. allegedly defrauded their clients.

The NBI sought the assistance of the SEC on the matter.