The Professional Regulation Commission (PRC) is investigating five doctor-incorporators of the Philippine Society for Stem Cell Medicine (PSSCM) over possible fraud and forgery cases emanating from their documents submitted to the Securities and Exchange Commission (SEC).
After a rift with the Bureau of Internal Revenues (BIR) over alleged tax evasion, the medical profession is once again under fire. This time from the PRC.
Five doctors may have to face charges and have their medical licenses revoked for submitting a fabricated endorsement from the PRC to the SEC.
Among them are chairman of the Philippine Medical Association Leo Olarte, PSSCM treasurer and legal counsel; Bu Castro, secretary; Rey Melchor Santos, president; Oscar Tinio, vice president; and Jose Asa Sabili, chairman.
In a statement, PRC Chairperson Teresita Manzala on Sunday said she directed the Professional Regulatory Board of Medicine (PRBOM) to initiate, investigate, and file charges against the five doctors before the PRC’s legal division for unprofessional, dishonorable, and unethical conduct.
Earlier on 10 January 2014, the SEC cancelled the registration of the PSSCM for submitting a fabricated document. In an order signed by SEC Acting Director Ferdinand Sales, the commission said the PSSCM had committed fraud in “procuring its Certificate of Incorporation” for its application for corporate registration.
“Wherefore, premises considered, the Certificate of Registration of Philippine Society for Stem Cell Medicine with SEC Registration No. CN201303986, approved on March 6, 2013 is hereby revoked,” the order reads.
SEC said PSSCM submitted a “2nd PRC Indorsement,” dated 20 February 2013, supposedly from Manzala. But on 14 August 2014, SEC received a letter-complaint from Manzala “informing the commission that the signature appearing in the alleged favorable indorsement from PRC was not hers and, thus, falsified.”
On Monday, March 17, the PMA declared it had nothing to do with the alleged faking of the PRC endorsement letter. If there is anyone to blame, it would be D and A Villaruel Services and Trading Co, a business registration company the PMA hired to handle PSSCM's registration application.
"We were never involved in the actual processing of the PSSCM SEC registration nor the processing of the PRC endorsement of PSSCM with SEC," said Olarte in a statement.
The PMA had "good and honest intentions" when they hired D and A Villaruel Services and Trading Co. The company processes documents for mayor's permits, BIR registrations and others.
"We are not the criminals, if there was fraud in the registration of PSSCM, we were the victims here," Olarte said.--Source: Intraksyon/Rappler