Baguio-born realty group Casa Infini still very much afloat —exec

BAGUIO CITY—  Baguio City-born realty firm Casa Infini and its affiliated entities said that it is very much afloat with its ongoing realty projects in various locations in Northern Luzon and around the country.

This update comes amid the Securities and Exchange Commission (SEC)’s permanent Cease-and-Desist Order (CDO) denying Casa Infini’s motion-to-lift against the regulatory body’s earlier June 8, 2023 stay issuance.

In an En Banc resolution on Oct. 31, 2023, the SEC completely set aside Casa Infini’s denial that it has been selling securities to its clients in the form of investment contracts sans proper sanctioning by government.

“We have been operating for 10 years and all have been aboveboard,” vowed Jennilyn Floresa, Casa Infini’s president and chief executive officer.

 "Only that we were demonized to have been illegal by dirty machinations by jealous entities,” she added.

The SEC’s EIPD, however, has been saying that Casa Infini has been enticing the public to invest in their alleged real estate projects in Baguio City either as a buyer-investor or partner-financiers.

Investors of Casa Infini, according to SEC, were promised "a  guaranteed income of  more than P33,000 per month for 20 months, with the company assuring the public that the investments collected were supposedly financing the real estate properties that it owned, managed and operated."

Floresca, however, denied the SEC’s findings. 

"Walang kaming nilokong tao, at wala kaming balak manloko. (We didn't scam anyone and we don't plan on scamming them) We were just helping our (realty clients) become financially-literate so that our realty business went beyond mere offering real estate but included educating them," she said. 

In August this year, SEC aided by policemen caught Floresca and four dozen of her staff in a supposed entrapment operation alluding them to be selling government securities during a supposed gathering-seminar of the group and their supposed prospective clients.

A month later, the Baguio Prosecutor’s Office dropped the charges against Floresca and her staff due to lack of evidence.

Amid the development, Floresca maintained that Casa Infini, with its P500 milion business capacity market exposure, “is very much alive in its business undertaking."

“We are exhausting all legal remedies to protect not only the realty firm but our partners," she added.