+ Follow JENILYN CONDES Tag
Array
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[results] => Array
(
[0] => Array
(
[ArticleID] => 289580
[Title] => SEC files charges vs Glasgow
[Summary] => The Securities and Exchange Commission (SEC) has filed with the Department of Justice a criminal complaint against the owner-directors of Glasgow Credit and Collection Services Inc. for unauthorized sale of investment contracts in violation of the Securities Regulation Code.
Glasgow offered investment contracts to 8,921 investors with the promise of a 15-percent interest a month for six-month placements. It was among the first batch of pseudo-investment companies that hogged the limelight following its failure to pay promised returns to investors.
[DatePublished] => 2005-08-03 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 226535
[Title] => Glasgow bid for 7-year payment of SEC fine rejected
[Summary] => The Securities and Exchange Commission is not inclined to accept the proposal of pseudo-investment firm Glasgow Credit and Collection Services Inc. to pay the assessed penalty of P10 million over a seven-year period.
An SEC official, who requested not to be named, said the commission is not likely to approve Glasgow’s proposed mode of payment. "The commission wants a shorter period. It should only be for one year," the same official said.
[DatePublished] => 2003-11-03 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 223334
[Title] => Glasgow pressed to pay P10-million penalty
[Summary] => Glasgow Credit and Collection Services Inc. is being pressed by the Securities and Exchange Commission to immediately pay the assessed penalty of P10 million for unauthorized sale of securities to the public in violation of the Securities Regulation Code.
The company was issued a cease-and-desist order by the SEC for offering to the public investment contracts without prior registration with the corporate watchdog.
[DatePublished] => 2003-10-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 193453
[Title] => Filing of criminal raps vs Glasgow owners pushed
[Summary] => The Pasig Prosecutors Office has recommended the criminal prosecution of the owners and directors of Glasgow Credit and Collection Services Inc. for having allegedly committed large-scale estafa.
The order was signed by Pasig Prosecutor Fernando H. Dumpit.
In the order, Dumpit said: "Based on the evidence adduced, there exists a sufficient ground to engender a well-founded belief that crime of large-scale estafa in violation of Article 315 of the Revised Penal Code, has been committed and respondents are probably guilty thereof and should be held for trial."
[DatePublished] => 2003-01-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 188359
[Title] => Glasgow investors not on SEC list may still get their money back
[Summary] => Investors of Glasgow Collection and Services Inc. who have yet to get their principal investments back will have something to look forward to as the company has authorized the Securities and Exchange Commission (SEC) to pay even those that are not on the SEC list of claimants.
SEC Chairperson Lilia R. Bautista said Glasgow has given SEC the authority to pay 450 Glasgow investors who were not included on the SEC list. She did not say how much would be returned to the investors.
[DatePublished] => 2002-12-18 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 185365
[Title] => SEC fines Glasgow P13.5M
[Summary] => The Securities and Exchange Commission (SEC) has imposed a P13.5-million fine on Glasgow Collection and Services Inc. for the unauthorizedsale of securities in violation of the Securities Regulation Code (SRC).
SEC officials said Glasgow was willing to settle the fine in exchange for the dropping of charges against the company, its officers and owners.
The SEC earlier said it was considering filing a criminal complaint against Glasgow officers to make them answerable for all the losses incurred by investors.
[DatePublished] => 2002-11-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 182084
[Title] => Glasgow investors may get money back before yearend
[Summary] => The Securities and Exchange Commission said investors of Glasgow Credit and Collection Services Inc. may get their money back before December this year.
Tomas Syquia, head of the SEC’s compliance and enforcement department, said: "Before December, we expect to give it. We’re just fixing the payment scheme. The priority is to return the money."
Glasgow investors are expected to receive 79 percent of their principal investments back, slightly higher than the earlier announced figure of 67 to 68 percent.
[DatePublished] => 2002-10-31 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 181137
[Title] => SEC uncovers 4 more Glasgow accounts
[Summary] => Here’s good news for investors of Glasgow Credit and Collection Services Inc.
The Securities and Exchange Commission has uncovered four more accounts of Glasgow in several banks, making these funds available for distribution to over 9,000 investors.
An SEC official said investors may now get 79 percent of their principal investments back, slightly higher than the earlier announced figure of 67 to 68 percent.
[DatePublished] => 2002-10-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 176699
[Title] => Glasgow investors won’t get all their money back
[Summary] => Investors of Glasgow Credit and Collection Services Inc. may get only 67 percent of their principal investments back as the funds in the frozen bank accounts of the company are not enough to pay back all the claims of 9,121 investors.
"We estimate that only 67 to 68 percent of the total investments made by Glasgow investors will be returned," an SEC official said.
The SEC official said investors who have submitted the required documents for the settlement of their claims, will be directed to go to the banks where Glasgow has savings accounts.
[DatePublished] => 2002-09-20 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
JENILYN CONDES
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 289580
[Title] => SEC files charges vs Glasgow
[Summary] => The Securities and Exchange Commission (SEC) has filed with the Department of Justice a criminal complaint against the owner-directors of Glasgow Credit and Collection Services Inc. for unauthorized sale of investment contracts in violation of the Securities Regulation Code.
Glasgow offered investment contracts to 8,921 investors with the promise of a 15-percent interest a month for six-month placements. It was among the first batch of pseudo-investment companies that hogged the limelight following its failure to pay promised returns to investors.
[DatePublished] => 2005-08-03 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 226535
[Title] => Glasgow bid for 7-year payment of SEC fine rejected
[Summary] => The Securities and Exchange Commission is not inclined to accept the proposal of pseudo-investment firm Glasgow Credit and Collection Services Inc. to pay the assessed penalty of P10 million over a seven-year period.
An SEC official, who requested not to be named, said the commission is not likely to approve Glasgow’s proposed mode of payment. "The commission wants a shorter period. It should only be for one year," the same official said.
[DatePublished] => 2003-11-03 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 223334
[Title] => Glasgow pressed to pay P10-million penalty
[Summary] => Glasgow Credit and Collection Services Inc. is being pressed by the Securities and Exchange Commission to immediately pay the assessed penalty of P10 million for unauthorized sale of securities to the public in violation of the Securities Regulation Code.
The company was issued a cease-and-desist order by the SEC for offering to the public investment contracts without prior registration with the corporate watchdog.
[DatePublished] => 2003-10-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 193453
[Title] => Filing of criminal raps vs Glasgow owners pushed
[Summary] => The Pasig Prosecutors Office has recommended the criminal prosecution of the owners and directors of Glasgow Credit and Collection Services Inc. for having allegedly committed large-scale estafa.
The order was signed by Pasig Prosecutor Fernando H. Dumpit.
In the order, Dumpit said: "Based on the evidence adduced, there exists a sufficient ground to engender a well-founded belief that crime of large-scale estafa in violation of Article 315 of the Revised Penal Code, has been committed and respondents are probably guilty thereof and should be held for trial."
[DatePublished] => 2003-01-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 188359
[Title] => Glasgow investors not on SEC list may still get their money back
[Summary] => Investors of Glasgow Collection and Services Inc. who have yet to get their principal investments back will have something to look forward to as the company has authorized the Securities and Exchange Commission (SEC) to pay even those that are not on the SEC list of claimants.
SEC Chairperson Lilia R. Bautista said Glasgow has given SEC the authority to pay 450 Glasgow investors who were not included on the SEC list. She did not say how much would be returned to the investors.
[DatePublished] => 2002-12-18 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 185365
[Title] => SEC fines Glasgow P13.5M
[Summary] => The Securities and Exchange Commission (SEC) has imposed a P13.5-million fine on Glasgow Collection and Services Inc. for the unauthorizedsale of securities in violation of the Securities Regulation Code (SRC).
SEC officials said Glasgow was willing to settle the fine in exchange for the dropping of charges against the company, its officers and owners.
The SEC earlier said it was considering filing a criminal complaint against Glasgow officers to make them answerable for all the losses incurred by investors.
[DatePublished] => 2002-11-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 182084
[Title] => Glasgow investors may get money back before yearend
[Summary] => The Securities and Exchange Commission said investors of Glasgow Credit and Collection Services Inc. may get their money back before December this year.
Tomas Syquia, head of the SEC’s compliance and enforcement department, said: "Before December, we expect to give it. We’re just fixing the payment scheme. The priority is to return the money."
Glasgow investors are expected to receive 79 percent of their principal investments back, slightly higher than the earlier announced figure of 67 to 68 percent.
[DatePublished] => 2002-10-31 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 181137
[Title] => SEC uncovers 4 more Glasgow accounts
[Summary] => Here’s good news for investors of Glasgow Credit and Collection Services Inc.
The Securities and Exchange Commission has uncovered four more accounts of Glasgow in several banks, making these funds available for distribution to over 9,000 investors.
An SEC official said investors may now get 79 percent of their principal investments back, slightly higher than the earlier announced figure of 67 to 68 percent.
[DatePublished] => 2002-10-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 176699
[Title] => Glasgow investors won’t get all their money back
[Summary] => Investors of Glasgow Credit and Collection Services Inc. may get only 67 percent of their principal investments back as the funds in the frozen bank accounts of the company are not enough to pay back all the claims of 9,121 investors.
"We estimate that only 67 to 68 percent of the total investments made by Glasgow investors will be returned," an SEC official said.
The SEC official said investors who have submitted the required documents for the settlement of their claims, will be directed to go to the banks where Glasgow has savings accounts.
[DatePublished] => 2002-09-20 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
abtest
November 3, 2003 - 12:00am
