SEC files complaint vs ‘Maharlika’ group over 'Marcos gold' scam

The Securities and Exchange Commission (SEC) on Tuesday said it has filed a criminal complaint against the Royal Kingdom of Maharlika Pearl of the Orient Organization Inc. (RKOM) and its armed wing, Royal Vanguard Transnational Intelligence Group Inc., over an alleged investment scheme built on claims of the Marcos family’s hidden wealth.

In a statement, the SEC said it lodged the complaint before the Office of the City Prosecutor in Santa Rosa, Laguna on March 30 against the organizations and their leaders for multiple violations of the Securities Regulation Code, the Financial Products and Services Consumer Protection Act, and the Cybercrime Prevention Act.

The commission said the legal action stemmed from a joint entrapment operation conducted with the Philippine National Police (PNP) Anti-Cybercrime Group on March 28, which resulted in the arrest of the group’s founder, Rolando Rhey Kipte Villar, and 14 associates.

According to the SEC, RKOM solicited funds from the public by offering “Yellow” and “Green” membership cards priced between P200 and P5,500.

In return, investors were promised “lifetime benefits” ranging from P100,000 to as much as P5 million, the regulator said.

The SEC alleged that to boost credibility, the group claimed members would become beneficiaries of the estate of former President Ferdinand Marcos Sr. and receive a 2% share of earnings from a so-called “Mother Account” supposedly backed by gold deposits and global commodities.

The commission added that RKOM’s armed component, Royal Vanguard, required members to pay P5,500 for uniforms and badges, purportedly to provide security for Villar, who used the title “Supremo” and allegedly claimed he would soon be the “King of the Philippines.”

Despite being registered as non-stock corporations, the SEC said neither RKOM nor Royal Vanguard had the secondary licenses required to solicit investments or sell securities to the public.

The commission also noted that the use of information and communications technologies in carrying out the scheme could lead to stiffer penalties under the Cybercrime Prevention Act.

Aside from Villar, those named in the complaint were Roger Rivera, Jimmy Limos, Danilo Alfonso, Mark Raven Colocado, Roland Alan Antonio, Eufemicito Richard Javillonar, Miguel Maravilla, Amanda Castillo, Sergia Herrera, Elvira Vedania, Eva Basbas, Editha Balisi, Marivic De Chavez, and Isabelita Rapista.

The SEC warned the public against schemes promising high returns based on historical myths or unverified claims, reiterating that any offer of securities must be backed by a registration statement approved by the commission.

GMA News Online has reached out to RKOM through its available contact number for comment and will update this story once a response is received.—MCG, GMA News