INQUIRER.net: Former stock broker convicted of securities violations

INQUIRER.net Philippine News for Filipinos

Former stock broker convicted of securities violations Mar 20th 2013, 01:23 MANILA, Philippines -- A former stock broker who had defrauded clients was convicted for seven violations of securities laws, the first criminal conviction under the Securities Regulation Code. The regional trial court of Makati City (RTC) found Francisco Borromeo, former president of the defunct brokerage house Asian Capital Equities Inc. (ACEI), guilty of securities violations. He was sentenced to pay a total amount of P2.1 million. The cases against Borromeo were filed on January 2005 for "unlawful and felonious acts he committed in order to defraud his clients, including, among others, the sale of his client's shares without his client's consent, the use of fictitious and... Keep on reading: Former stock broker convicted of securities violations Media files: asian-Markets-philippines1.jpg (image/jpeg)

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