Bank Drafts in Favor of Future Strategies

June 16, 1998 BSP CIRCULAR LETTER TO : All Banks SUBJECT : Bank Drafts in Favor of Future Strategies Attached for your reference and guidance is a copy of the letter dated May 20, 1998 of Mr. Perfecto R. Yasay, Jr., Chairman, Securities and Exchange Commission (SEC) requesting the Bangko Sentral ng Pilipinas to issue a circular addressed to all banking institutions directing them not to issue bank drafts in favor of Future Strategies so that the cease and desist order dated February 25, 1998 against said firm may be enforced and SEC's task to protect the public may be carried out. (SGD.) EDGARDO P. ZIALCITA Officer-in-Charge May 20, 1998 Hon. Gabriel Singson Governor Bangko Sentral ng Pilipinas Maynila S i r : On February 25, 1998, this Commission issued a Cease and Desist Order against PENTAGONO (Future Strategies Slr.) with a directive to the effect that "any and all persons acting for and on behalf or participating thereat are hereby ordered to Cease and Desist from further offering distributing, disposing and/or selling certificates, coupons . . . which the Commission consider as "securities" under Section 2 of the Revised Securities Act and all activities in pursuance thereof" (copy of the Order is attached for your perusal) It appears, however that the participants in the scheme continue to recruit, offer and sell the securities being issued by the above-named entity which is based in Italy in clear defiance of the said order. Since the participants thereto remit the amount of forty U.S. ($40.00) Dollars by way of an International Bank Draft to FUTURE STRATEGIES-VIA MURATORI (MO) ITALY, may we request the Bangko Sentral ng Pilipinas to issue a CIRCULAR addressed to all Banking Institutions not to issue bank drafts in favor of Future Strategies so that the Cease and Desist Order dated February 25, 1998 be enforced and/or implemented and in order that our mandated task to protect the investing public may be carried out. cd This we earnestly seek pursuant to the provision of Sec. 3, P.D. 902-A, as Amended. Hoping your immediate action on the matter. Very truly yours, (SGD.) PERFECTO R. YASAY, JR. Chairman