September 17, 2019
SEC CDO CASE NO. 06-19-053
IN THE MATTER OF: ALABEL MAASIM MINING CORP. (ALMAMICO), ALABEL-MAASIM SMALL SCALE MINING COOPERATIVE and/or ALABEL-MAASIM CREDIT COOPERATIVE (ALAMCCO)
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT, petitioner.
RESOLUTION
For consideration of the Commission En Banc is the Motion Ex Abundanti Ad Cautelam to Lift Issued Cease and Desist Order (Order) dated 7 July 2019 filed by the counsels of respondent ALAMCCO, Genita Law Office, Melliza Law Office and Clarin Law Office, personally before the Office of the General Counsel on 8 July 2019.
FACTS
On 3 June 2019, the Enforcement and Investor Protection Department (EIPD) filed before the Commission En Banc through the Office of the General Counsel, a Motion for Issuance of a Cease and Desist Order (CDO) against respondents Alabel Maasim Small Scale Mining Cooperative (ALMAMICOOP), Alabel-Maasim Small Scale Mining Coporation (ALMAMICO) and Alabel Maasim Credit Cooperative (ALAMCCO) on the following grounds:
a) That ALMAMICOOP represents itself as a valid cooperative despite not being duly registered with the Cooperative Development Authority (CDA) and solicits investments to the public without the proper registration and permits...
