DINUKTOR | 5 stem cell society doctors face raps for submitting falsified PRC endorsement to SEC

By: Jet Villa, InterAksyon.com March 17, 2014 7:45 AM

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InterAksyon.com The online news portal of TV5

MANILA - Five doctor-incorporators of the Philippine Society for Stem Cell Medicine (PSSCM) face charges and may have their medical licenses revoked for submitting a fabricated endorsement from the Professional Regulation Commission (PRC) to the Securities and Exchange Commission (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 PRCs 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.

Falsified endorsement

SEC said PSSCM submitted a 2ndPRC Indorsement, dated 20 February 2013, supposedly from Manzala. But on14 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.

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DINUKTOR | 5 stem cell society doctors face raps for submitting falsified PRC endorsement to SEC