DavOr to create Task Force to tackle investment schemes

DAVAO ORIENTAL – Acting on the proliferation of investment schemes in Davao Region, particularly in Davao Oriental, Gov. Nelson Dayanghirang strongly supports the creation of a Provincial Task Force on Investment Schemes, to look into these establishments that are feared to turn out into investment scams, preying on thousands of constituents.

“I have learned just recently that many are already engaged in these investment schemes in the province. This has to stop. Though, we understand that our people are enticed to join and earn from these schemes. But they must understand that these schemes will not last. They should realize that there is no business that offers such a big return of investment, as promised by these investment schemes,” he explained.

Also, the Governor stressed that those who are operating investment schemes should know for a fact that time will come when they can no longer pay their clients.

Dayanghirang furthered that the Local Chief Executives should have an in-depth knowledge on the operation of these schemes, explain it to the people, and abide to the order of President Rodrigo Duterte not to issue permit to the investment scheme applicants.

“As elected officials, we are duty-bound to protect our people. We should not fear that our political career will be affected because it might not be a popular decision,” he furthered.

Davao Oriental Provincial Director Police Colonel Marcial Mariano Magistrado disclosed in the recent joint meeting of the Provincial Peace and Order Council (PPOC), Provincial Anti-Drug Abuse Council (PADAC), and Provincial Disaster Risk Reduction and Management Council (PDRRMC), that they have monitored 9 outlets of investment schemes in some parts of the province. 

“The monitoring is in strict compliance to the directive of the President. Majority of them lack operating documents, and are subject for NBI and CIDG operation,” he said.

As such, he is suggesting the creation of an inter-agency task force in the provincial level to look into these investment schemes. It will be composed of a representative from the Department of Justice (DOJ), Bureau of Internal Revenue (BIR), Department of Trade and Industry (DTI), and Philippine National Police, among others. 

“Even if their establishments were already closed, but they adopt new strategies, this time using social media, thus, they are still continuing their operation,” he furthered.

Though the investors opted to remain silent, but Gov. Nelson Dayanghirang gave his reminder to the public.

“Be very careful with your investment because it entails money that you worked hard for. Don’t invest if there is no certainty, otherwise, you will just be splurging your money to an unworthy cause which you will regret later. Spend your money very wisely,” he appealed to the people.

Investment schemes that had started their operation in the province include KAPA, Rigen, Asia, Ever Arm, and Jogle. By Neela Duallo/Photos by Riza Golez