In re Speed Financial Management Services Technique, Inc. and Speed Credit Collection Services Co.

January 29, 2010SEC ADMINISTRATIVE CASE NO. 12-03-75[Ref. CED Case No. 02-2755]IN THE MATTER OF SPEED FINANCIAL MANAGEMENT SERVICES TECHNIQUE, INC. AND SPEED CREDIT COLLECTION SERVICES CO.ENFORCEMENT AND PROSECUTION DEPARTMENT, 1 petitioner.FOR : Violation of SRC, Sec. 8.1 and B.P. 68, Sec. 45ORDEROn 05 December 2003, petitioner filed a Petition for Revocation of SPEED FINANCIAL MANAGEMENT SERVICES TECHNIQUE, INC.'s Corporate Registration and SPEED CREDIT COLLECTION SERVICES CO.'s Certificate of Recording. Respondents are charged with engaging in soliciting, offering, accepting and selling investments or securities in the form of a Contract of Loan to the general public without any license from the Commission in violation of Section 8.1 of the Securities Regulation Code. 2 On 16 December 2003 and 03 August 2007, the Commission issued Orders directing respondents to file their answer on the Petition. These Orders were not served upon respondents and their officers since the addresses given by respondents in their respective articles of incorporation and articles of partnership submitted to the Commission were either fictitious, or the respondents moved out of such addresses without...