The Securities and Exchange Commission (SEC) has shuttered Silverlion Livestock Trading Corp. for allegedly operating a get-rich-quick scam.

The corporate watchdog, in an order dated Jan. 5, cancelled the certificate of incorporation of Silverlion for illegally selling investments to the public.

Investigations by the SEC's enforcement and investor protection department and its regional office in Zamboanga revealed that the company was enticing unwitting victims with "guaranteed" profits of 35 percent in 15 days.

The SEC added the ploy appeared to be a classic Ponzi scheme, a type of scam that generates "returns" by using money collected from newer investors instead of any legitimate investment activity.

"The scheme being offered by Silverlion Livestock Trading Corp. ... promising a return of 2.3 percent per day or 35 percent after 15 days has the characteristics of a Ponzi scheme. Such scheme is prohibited under Section 26 of the [Securities Regulation Code]," the order read.

The SEC said Silverlion also violated provisions of the SRC when it sold investments to the public sans the necessary licenses.

The company's activities were discovered after the SEC and the National Bureau of Investigation seized cash and vouchers from Silverlion following a successful raid last year.

The SEC subsequently filed a criminal case against Silverlion last December 2, implicating its CEO Ryan Cagod Ladoing, incorporator Renan Lara Ladoing, officers and agents Rosemarie Alvarez Guzman, Neña Ewayan Algoy, John Paul Dellara Lopez and Michael Villalobos Berja. —Miguel R. Camus INQ