[SEC-SICD * CASE NO. 12-95-5224. January 6, 1998.]
LETICIA TANAEL, petitioner, vs. WORLDWIDE MONETARY MARKET, INC., ET AL., respondents.
D E C I S I O N
Facts on record show that on October 23, 1995, petitioner Leticia Tanael entered into a contract with respondent Worldwide Monetary Market, Inc. (Worldwide) for spot/futures currency trading. prLL
The petitioner herein and her husband were enticed to invest their hard-earned money amounting to ONE HUNDRED TWENTY SIX (P126,000.00) in respondent Worldwide through the insinuations of respondents Mar Anthony Magada and Joel Mendoza, who are not licensed investment consultants/brokers/agents (Exhibit "G"). Said respondents represented that if the spouses would invest in foreign currency, they will not suffer any loss, they will be given profitable income, the transactions shall be effected and monitored by the aforesaid respondents (TSN, October 98, 1996 p. 17); and that their investment can be withdrawn anytime (ibid., pp. 19-20). Fully convinced as to the truthfulness of said representations, the mentioned spouses decided to invest in Worldwide.
In the process, petitioner signed a Special Power of Attorney in favor of Alexander...
