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Crowdfunding SME seeks SEC help in possible fraud

The Philippine Star

|

January 02, 2024

A crowdfunding company is seeking the help of corporate regulator Securities and Exchange Commission (SEC) after one of its officers was suspected to have engaged in a fraudulent act.

- IRIS GONZALES

In a statement, the Seedin Technology Inc. reported to the SEC that its former president, Edison Tsai, is involved in a possible and apparent fraudulent act.

As of December 2022, SeedIn's platform has seen a total of P1.42 billion in funds raised for 296 projects.

However, SeedIn also informed SEC that it is investigating the matter and will provide more details in due time, aside from conducting a forensic audit to determine the extent of the possible fraud.

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