Davao top cop leads inspection of ‘shady’ investment firms

DAVAO CITY – The Police Regional Office-11 (PRO-11) has started inspecting companies known to be offering shady investment schemes in Davao Region other than their retailing and networking businesses.

“Ginagawa lang namin ang aming trabaho para ma protektahan sila at hindi humantong sa bandang huli magkagulu-gulo na sila dahil hindi na makuha ang pera nila (We are just doing our job to protect the people because, in the end, they will get into trouble because they cannot get back their money anymore),” said Brig. Gen. Marcelo Morales, PRO-11 director.

On Wednesday, Morales led the inspection of Jogle Innovative Marketing located along Molave Street here.

Jogle failed to show its business permit for its retail business and on the same day, the city's Business Bureau issued a cease and desist order to Jogle, which is engaged in an investment scheme.

On Thursday, Morales led his team in Tagum City to inspect companies allegedly engaging in easy-money schemes but do not have the necessary permits authorizing them to engage in soliciting investments.

During the past months, retail and networking companies have been attracting people to invest at least PHP5,000 plus registration fee. For instance, Rigen Marketing in Tagum City is reportedly offering 400 percent return, supposedly turning one’s PHP5,000 to PHP20,000.

Kapa-Community Ministry International, Inc. (KAPA) also solicits investments in the guise of donations, without the necessary license and in a manner resembling a Ponzi scheme. The Securities and Exchange Commission (SEC) has earlier issued a cease and desist order against KAPA, which the religious sect is fighting in court.

After coordination meetings with Davao del Norte Provincial Police, Morales confirmed there are around 30 firms offering investment schemes in Tagum City alone.

Of the 30 firms, only eight have business permits while 22 could not show legal documents.

One of the firms inspected in Tagum on Thursday was the GP Load Cards and Wellness Products Marketing managed by Wynna Obero.

During the inspection, Obero said she has a business permit from the local government while the certificate of registration and printing of official receipt is still under process with the Bureau of Internal Revenue.

Obero admitted her firm is offering a package of products while also soliciting investments that promises a 100 percent return in 30 days.

Morales, however, pointed out the procedures in permitting for retailing is different from the procedure in investment and networking business.

“‘Di pwedeng isang permit lang yun business at investment. Separate, iba ang procedure sa retailing at sa investment (The procedures for retailing and investment are separate. It cannot be just one permit),” he said.

Morales pointed out that the products and the higher percentage of return of investment are the selling points that attract investors. In the end, however, everything crumbles because the companies cannot sustain it anymore, he added.

“Kung seryoso talaga sila sa kanilang negosyo, sundin nila kung ano ang nakasaad sa batas (If they are serious in their business, they should follow what is provided under the law),” he said.

“We are still in the prevention stage so we are looking into the regulatory aspect,” Morales said, saying he hopes government regulatory agencies would start looking into the companies engaging in dubious investment schemes. (PNA)


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