Mica Tan to creditors: No one gets paid if I’m detained

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May 20, 2026 | 12:00am

MANILA, Philippines — MFT Group of Companies chief executive officer Maria Francesca Tan, who is being linked to a massive investment fraud, has warned creditors of potential consequences in case she gets detained.

“We have to work, and none of these solutions will be successful if anything disrupts leadership or if I get detained. And I think anyone with common sense would agree, no one wants that. No one gets paid if that happens, so that cannot happen, right?” Tan said during an April meeting with creditors, The STAR learned.

Tan said that engaging in distractions, such as shareholders filing cases, “only wastes time, drains resources and ultimately delays what everyone wants, which is repayment and resolution.”

She also asked creditors to continue supporting the process, which she claimed “is designed to deliver results” and “not the noise, the articles, the baseless and useless cases” being filed with the goals of detaining her.

“If anything happens to me or leadership driving recovery, how does that help? Who continues the legal strategy that is already in motion and has resulted in several dismissals? Who coordinates with council partners, stakeholders who ensure that operations, however limited and difficult, continue to function, and who keeps everything aligned toward one goal, which is repayment?” Tan said.

“Creditors will not get paid through speculation. You get paid when borrowers recover, and I think by now it is obvious who borrowers are working to recover, and that is the only outcome that produces real and tangible results. Cases that will increase the risk of certain people being detained, which doesn’t point toward recovery. It doesn’t point towards getting paid,” she said.

The Department of Justice (DOJ) has indicted Maria Francesca Tan (MFT) Group of Companies Inc., Foundry Ventures I Inc. and their respective officers for their unauthorized solicitation of investments from the public, as resolved in May last year, following a case buildup by the Securities and Exchange Commission (SEC).

The DOJ implicated Tan in the complaint, as well as other officers of the companies.

The SEC is also awaiting Interpol’s issuance of the red notice requested for Tan several months ago.

In May 2024, the Court of Appeals initially issued a freeze order over the bank, investment and insurance accounts of MFT Group of Companies, upon finding probable cause that the group’s assets were related to an unlawful activity.

The SEC filed a criminal complaint against MFT Group and Foundry Ventures for an unauthorized investment scheme and misrepresentations in the groups’ financial statements.

SEC investigations showed that the MFT Group promised guaranteed returns ranging from 12 to 18 percent of the amount invested, which was treated as interest income.

The scheme was perpetuated through the issuance of post-dated checks bearing a one percent to 1.5 percent monthly interest to interested investors, who were given either a promissory note or a borrower-lender agreement as proof of their investment.

The SEC said the investment-taking activities of MFT Group and Foundry Ventures were similar to a Ponzi scheme, a type of investment fraud that relies on funds contributed by new investors to pay purported returns to existing investors.

The commission issued a cease-and-desist order against the company in January 2024, which was made permanent in April of the same year.

Tan has told creditors that the group’s focus for 2026 is on structured interim solutions.