Dermacare execs arrested for investment fraud; Malaysian authorities assisted

MANILA, Philippines — The Securities and Exchange Commission (SEC) announced that authorities have arrested the owner and a key officer of Dermacare for allegedly soliciting unauthorized investments, committing investment fraud, and engaging in syndicated estafa. On Thursday, the SEC announced that Malaysian authorities apprehended Dermacare owner Chanda P. Atienza and admin and finance manager Venus Eunizel P. Gonda when they arrived in the Philippines on Sept. 5, leading to their arrest. READ: NBI agents nab 2 in Quezon City over alleged beauty clinic investment scam The two are officers of Beyond Skin Care Ventures Inc., which operates as Dermacare Face Body and Laser Center/Dermacare-Beyond Skin Care Solutions. Their arrest stemmed from charges involving the alleged solicitation and offering of investments to the public without the necessary registration, license and authority from the corporate regulator. In 2024, the SEC filed criminal complaints against Dermacare and its officers for alleged violations of Sections 8, 26 and 28 of the Securities Regulation Code (SRC), in relation to Section 6 of the Cybercrime Prevention Act of 2012. In addition, Section 8 of the SRC prohibits the sale or offering of securities without a registration statement filed with and approved by the SEC. Meanwhile, Section 28 requires brokers, dealers, and salespersons to register with the commission when they engage in buying or selling securities. Likewise, Section 26 prohibits fraudulent transactions involving the purchase or sale of securities. Atienza and Gonda are also facing separate charges for syndicated estafa. “Under its scheme, the company supposedly enticed the public to invest in its franchise partnership agreement for a promise of receiving a guaranteed return equivalent to 12.6 percent interest every quarter for a period of five years, with complimentary salon services,” the SEC said. READ: SEC files criminal complaints against unlicensed investment schemes In February, branch 2 of the Regional Trial Court of Batangas City granted the SEC’s motion to cancel the passports of Atienza and Gonda, who had fled to Malaysia amid the criminal charges. Following the court order, the International Criminal Police Organization issued a red notice against the two. The passport cancellation order subsequently became the basis for their arrest by Malaysian authorities in August. The SEC reminded the public to exercise caution and verify the legitimacy of persons or entities offering investment opportunities. It also urged those solicited to participate in potentially unauthorized or fraudulent schemes to report them to the commission. /pai