BY Eileen Mencias
Angry investors of self-styled trading prodigy Maria Francesca ‘Mica’ Tan are reluctant to come forward because they were required to sign nondisclosure agreements.
According to investors who reached out to Bilyonaryo.com, Tan and her husband Carlos Cancio are persuading them to agree to a five-year plan without disclosing details of the financial strategy.
They were also informed that Cancio will be contacting them to secure their agreement to the plan.
While Tan’s lawyer said MFT is not a Ponzi scheme, investors say otherwise.
Bek, not her real name, invested in MFT as early as 2016 when Tan was touting alleged partnerships with established businesses such as Regina Capital Development Corp., a stock brokerage house, and Tambunting Pawnshop for their online channels.
She said MFT sets monthly targets for them. At one point, the target for them was to bring in P100
to P120 million in new money to the company a month. When their team met the target, they were given incentives such as trips. After that, their target was raised to P140 million.
She said that some people put in as much as P5 million, under the impression that it represented a form of equity in the company.
The allotments.
are made to appear limited and news of new allotments opening up were even welcomed by those who want bigger returns.
Tan even hosted a roadshow at Mt. Malarayat Golf and Country Club in Batangas where they enticed wealthy families to invest in Maria Francesca Tan MFT Group of Companies Inc.
Bek couldn’t fathom how much money Tan has amassed. Theirs was just one team and bringing in P1 billion of new money in the company a year was easy.
Cheska, also not her real name, has not yet agreed to the five-year plan. She said she wants to consult with her lawyer and sees it as a ploy to delay the return of their money. Some investors she is in contact with have agreed to and signed the 5-year recovery plan grudgingly because of fears that they will never get their money back. Unlike
Bek, Cheska got into it relatively late in the game. The post-dated checks she holds are not from Tan’s account or MFT’s. She feels bad for the signatories and sees them as victims of Tan as well. Right now, she just wants her money back.
Before parting with their money, investors said ‘praise releases’ and recognition from reputable organizations including Go Negosyo factored in their decision making. Go Negosyo even awarded her as among the Inspiring Filipinas in 2018, describing her as ‘one of the pioneers in venture capital investments.’
Tan has yet to reply to the email and Viber message sent by bilyonaryo.com.