MICA TAN, the most publicized young chief executive officer of MFT Group, has impressed her countrymen– especially the millennials– for being so young and successful. Yet, who would think that this same popular/successful CEO would now be a hunted person in the Philippines, to the point that the Securities and Exchange Commission is awaiting Interpol’s (International Police) issuance of a red notice for massive investment fraud.
“We have made a request for red notice for Mica Tan. But no red notice has been issued yet despite the request by the SEC several months ago. Since she is still at large, the arraignment cannot happen,” SEC commissioner Rogelio Quevedo told The Star.
A red notice from the Interpol is a request to law enforcement authorities worldwide to locate and provisionally arrest a person pending extradition, surrender or similar legal action.
In a resolution in May 2025, the Department of Justice (DOJ) has indicted Maria Francesca Tan (MFT) Group of Companies Inc., Foundry Ventures I Inc., and their respective officers for their unauthorized solicitation of investments from the public, following a case buildup by the SEC.
The DOJ implicated Tan in the complaint, as well as other officers of the companies.
The case stemmed from the complaint filed by the SEC in April 2024, based on complaints it received from investors of MFT Group, which later transitioned to Foundry Ventures.
The SEC has found the MFT Group enticing potential investors to participate in its investment scheme, with the promise of a guaranteed return ranging from 12 to 18 percent of the amount invested.
The SEC further said the MFT Group issued 12 post-dated checks to investors, through a promissory note or a borrower-lender agreement, in the form of a memorandum of agreement to prove the legitimacy of the scheme.
It said the first 11 checks indicated a one to 1.5 percent monthly interest, while the last check reflected the interest and principal amount as stated in the contract.
The amount invested will allegedly be used to finance the purchase orders for “sure projects” of the companies’ subsidiaries.
The DOJ likewise found MFT Group to have committed misrepresentations in its audited financial statements from 2018 to 2021, when its declared dividend income did not have a basis, or (the income) did not correspond to the dividends declared and the retained earnings by its subsidiaries.
The investment-taking activity of MFT Group and Foundry Ventures was found similar to a Ponzi scheme, a type of investment fraud that relies on the funds contributed by new investors to pay the purported returns to existing investors.
A cease and desist order against the company was issued by the SEC in January 2024, and was made permanent in April that same year.
SEC chair Francis Lim earlier dismissed the possibility of a potential settlement should the MFT Group decide to reach out to the commission.
“They have to show their money and they have to surrender. Why should the government deal with them if they don’t respect government processes like the warrant of arrest, right?” Lim told The Star.
The SEC, through the Financing and Lending Companies Department, is calling on the public to exercise utmost caution in dealing with persons, groups or entities offering loans through Telegram and other similar online messaging or social media platforms after it has observed a growing number of complaints and reports involving alleged fraudulent or unauthorized lending activities conducted through online messaging applications.
It also received reports of an alleged modus operandi in which individuals offering loans through Telegram invite prospective borrowers to join messaging groups or chat channels purportedly composed of other borrowers or clients.
The SEC urged the public to transact only with duly registered financing and lending companies and through officially disclosed and authorized online platforms.
Tan built her career at age 19 and became a CEO in her mid-20s and is recognized for her early, rapid success in private equity. She was an investor at 13 and by 19 years old she began her own business. Her MFT Group of Companies operates internationally and focuses on private equity.
Known as a millennial CEO, Mica Tan has spoken about her experiences in Tatler Asia, a magazine which features highly successful and admired business personalities.
On July 28, 2022, Tatler wrote of her: “I’ve always believed failure to be the best teacher,” remarks 2019 Gen.T honouree Mica Francesca Tan, co-founder and CEO of private equity firm MFT Group. At just 19 years old, the bold entrepreneur decided to forego university and dive into starting her own business. Now on its seventh year of operations, the eponymous investment company boasts a rich portfolio worth P 3 billion spanning various industries, primarily family legacy establishments, in global markets—10 countries, including 20 different business districts to be exact. But Tan will be the first to admit that she is not without her fair share of mistakes.”
Her passion for finance—and specifically, how finance empowers others—was inspired by her father, Dr Eduardo Tan. As a respected oncologist, Dr Tan dedicated his career to making world-class cancer treatment more accessible for Filipinos, seeking entrepreneurial partners to help realise his dream. “Because of that, I grew up with the courage not to be afraid of asking for help,” says the wide-eyed woman, the article continued.
Her passion for finance—and specifically, how finance empowers others—was inspired by her father, Dr Eduardo Tan. As a respected oncologist, Dr Tan dedicated his career to making world-class cancer treatment more accessible for Filipinos, seeking entrepreneurial partners to help realise his dream. “Because of that, I grew up with the courage not to be afraid of asking for help,” says the wide-eyed woman.