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The Securities and Exchange Commission said Friday it filed a money laundering complaint against Zamboanga-based group Silverlion Livestock Trading Corp. for illegally soliciting investments from the public.The SEC said Silverlion violated of Section 4 of Republic Act No. 9160, or the Anti-Money Laundering Act , as amended.
The SEC alleged that Silverlion was able to meet the four elements of money laundering, including the existence of unlawful activity, proceeds of the unlawful activity, knowledge and possession of such proceeds. The SEC said Silverlion was found to have offered to the public P50,000 to P100,000 worth of investments with the promise of up to 2.3 percent earnings daily, or a total of 35 percent returns within 15 days.
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