By Eileen Mencias
Maria Francesca ‘Mica’ Tan, the prominent figure behind MFT Group of Companies Inc., recruited the former vice president of Calata Corp. for business development, Parker Ong, just months after the Philippine Stock Exchange disqualified him from joining any listed firm as an officer or director.
According to his LinkedIn profile, One assumed the role of chief corporate development officer at Tan’s MFT Group of Companies Inc. in July 2018.
Mica Tan challenges creditors’ claims against MFT Group, debunks Ponzi scheme accusations
This appointment raised eyebrows, especially considering the allegations made by investors and creditors of MFT Group of Companies, claiming it to be a Ponzi scheme.
The company’s legal representative vehemently denied these accusations, asserting the absence of key elements characteristic of a Ponzi scheme. The MFT Group positions itself as a private equity firm with a global workforce of 280 employees, as per its website.
Tan and Joseph Calata, the permanently disqualified president and CEO of Calata, shared a presence on a business reality TV show aired in 2017. Despite queries from Bilyonaryo.com regarding the controversial appointment, Tan has not offered any response to date.