ACE OFFICIALS DENY SCAM ALLEGATIONS

As of yesterday, company has 1,533 stockholders, 66 of whom have been issued with stock certificates last March 10

Officials of the soon-to-be operating Allied Care Experts (ACE) Medical Center in Cebu City denied they are scamming their stockholders.

Dr. Genie Cerna Lopez, ACE MC-Cebu Inc. president, made the assurance before their stockholders during a conference in the Laguna Garden Café in Cebu City yesterday.

Speaking to the stockholders, Lopez assured that the eight-storey ACE Medical Center in Barangay Basak, Cebu City will start operations before the end of the year.

ACE MC-Cebu Inc. organized the conference in response to civil complaints filed by five of their shareholders.

The five shareholders claimed that ACE MC-Cebu Inc. is operating an “investment scam” by promising them hospital and medical benefits such as lodging and laboratory discounts, among others, in exchange for a stake in the facility.

Dr. Roland Mark Gigataras, ACE MC-Cebu vice president, said that the hospital was already 78.44 percent complete as of yesterday.

Lawyer Joseph Baduel, ACE MC-Cebu legal counsel, told SunStar Cebu that they are not shamming their stockholders, especially that the company has already invested more than P600 million for the construction of the hospital and for its equipment.

“Our books are open. We have nothing to hide,” Baduel said.

He admitted that their attention was called by the Securities and Exchange Commission (SEC) after they started selling shares without securing a secondary license.

They decided to stop selling their shares until the SEC issues them a secondary license.

Baduel said that the SEC already received their application for secondary license and they are set to be audited next month.

As of yesterday, the company has 1,533 stockholders, 66 of whom have been issued with stock certificates last March 10./

The clarificatory conference organized by ACE MC-Cebu Inc. was in response to civil complaints filed by five of their shareholders.