Casa Infini claims victory in legal fight vs SEC

A VICTORY. Casa Infini CEO Jennelyn Floresca celebrates as the City Prosecutor’s Office dismissed some of the charges filed by the Security Exchange Commission against Casa Infini. PML

Embattled Casa Inifini claimed a victory Friday in its legal battle against the Security Exchange Commission after the city prosecutors office dismissed the cases against the company leading to the arrest of its chief executive officer and 23 of her colleagues last June 10.

In a 55-page resolution last July 19 by associate city prosecutor Arlene Valerie Cacho – Spadaro and affirmed by city prosecutor Conrado Catral, Jr., has dismissed the complaint filed by the SEC for the violations of several sections of the financial products and services consumer protection act of 2022 in relation to section 6 of Cybercrime Prevention Act.

In her resolution, Cacho – Spadaro said that “evidence presented is insufficient (all caps) to charge the respondents,…”

The respondents are Jennelyn Floresca, Jovielyn Mina, Eric Pineda, Jacqueline Melchor, Jerich Sadernas, Ruhhiyah Ymana and Elmer Diga and 17 others were arrested during entrapment in a local hotel.

The prosecutor’s office noted that SEC was only to serve and post a cease and desist order against Casa Infini during the June 10 entrapment, but same was only issued hours after the arrests were made.

The June 10 arrests came during a real estate seminar held at the hotel when SEC lawyers swooped down on Casa Infini employees alleging that they were selling securities.

An emotional Floresca during a press conference at the Vera Hills Transient Home Friday said that she had been “emotionally stressed” for the 49 hours she was detained and which was compounded by the “public trial” that ensued damaging the name of the company.

She said that they now have problems with the new bank where they opened accounts, the same for those who came in association with them.

Despite these, she said that they will soon open several “altruistic” projects among which are the groundbreaking ceremonies for four villas at Outlook Drive on July 28, the turn over ceremonies for their Alapang, La Trinidad project on July 25, the groundbreaking of the Saleng condominiums at Gibraltar before the end of the year.

On top of those mentioned, they are looking forward to stage  a Mr. Benguet pageant like event during the company’s 11th year on August 18 at the Baguio Convention Center and the 11th year anniversary celebration on August 25. Pigeon Lobien



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