Securities and Exchange Commission (SEC) Headquarters in Makati. | PHOTO: Daniella Agacer / INQUIRER.net
MANILA, Philippines — The Securities and Exchange Commission (SEC) has warned the public against an advance-fee loan scam involving an individual posing as a representative of Bestloan Finance and Leasing Inc.
In an advisory, the SEC said an individual who introduced himself as “Urise Loteryo Lean” had allegedly been using falsified notarized loan contracts to misrepresent Bestloan and defraud prospective borrowers.
READ: SEC warns vs loan scams impersonating registered firms
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