Some investment scam operators doing business discreetly: DCASU
The old scam is back in town and it’s gone digital.
In this re-tooled investment scam, pay-in and pay-out transactions are done mobile according to Davao City Anti-Scam Unit (DCASU) Head Simplicio Sagarino who disclosed to Edge Davao that this new mode of transactions was introduced by the ‘old’ investment scheme companies that were shut down along with new companies that have sprung up.
Unlike the old system that was widely advertised, Sagarino said agents and investors now discreetly do transactions through mobile phones.
“Example naa kay number nako, I will text you na kung gusto nimo mag- payin, magkita ta. Nagakita sila sa usa ka lugar. Ang uban nagpay-payin sa sakyanan. Wala sila’y office para dili sila ma-locate. Parang guerilla type para dili sila ma-monitor. Mao na ilang ginahimo karon,” Sagarino said.
In June this year, President Duterte has ordered the Philippine National Police (PNP) and the National Bureau of Investigation (NBI) to shut down investment scams like Kapa-Community Ministry International, operating mainly in Southern Mindanao.
After Duterte’s pronouncement, the Securities and Exchange Commission ran after five more groups allegedly running illegal investment schemes and swooped on the offices of other “investment scams” operating in the Visayas and Mindanao. A total of 24 search warrants were served to Rigen Marketing, Organico Agribusiness Ventures Corp., Ada Farm Agriventures, Ever Arm Any Marketing, and Alabel-Maasim Credit Cooperative.
However, despite series of raids, some of these financial firms as well as new firms continue to operate secretly.
Sagarino said it now depends on those investors to file complaints against investment scheme companies that are secretly operating but the anti-scam unit is strictly monitoring these companies to prevent from operating again. He also gave update on the cases filed by the investors against these companies. He said some of them are now waiting to make appearance in court.
“Kaning mga complainants niduol sa atong office ug nag present sa ilang joint affidavits. Na file na ang case even a hold departure order para dili makalakaw ang respondents,” he said.
Sagarino bared that his office was tasked by Mayor Sara Duterte to make a case build-up against scam cases, investigate, and refer the cases to the National Bureau of Investigation (NBI) and Criminal Investigation and Detection Group (CIDG).