DAVAO CITY – The Securities and Exchange Commission (SEC) in Davao has warned the public on Wednesday against investing in the new money scheme called Repa Paluwagan.In a statement, the SEC-Davao clarified that the operation of the entity is a “Ponzi Scheme,” an investment fraud… Read More
Tagam City, Davao del Norte Investment Scam
May 15, 2021
CAGAYAN DE ORO CITY – The Securities and Exchange Commission (SEC) here has warned the public of the proliferation of at least 28 groups and individuals engaged in fraudulent investment schemes.“In its continuous efforts in investigating possible investment scams, the Commission warns… Read More
GENERAL SANTOS CITY – Police are eyeing an Islamic State-inspired local terrorist group operating in South Cotabato province as among the possible sources of the high-powered firearms that were seized last month from Kapa Community Ministry International founder Pastor Joel Apolinario.Col…. Read More
KAPA Community Ministry International Founder Joel Apolinario has been arrested in Lingig, Surigao del Sur for syndicated estafa, an official confirmed Tuesday.
Apolinario was arrested for syndicated estafa with no recommended bail as issued by a Cagayan de Oro regional trial court.
“Confirm [ed yung arrest] po sir but as to the details hinihintay pa namin,” CARAGA Public Information officer Renel Serrano confirmed the report with ABS-CBN News. READ MORE
GENERAL SANTOS CITY – Another court in Sarangani province has ordered the arrest of Kapa Community Ministry International Inc. founder Pastor Joel Apolinario and his top associates for syndicated estafa.Lawyer Regner Peneza, head of the National Bureau of Investigation-Sarangani district… Read
A regional court in Sarangani province has ordered the arrest of at least 18 officials of a cooperative based in Alabel town that had allegedly operated an illegal investment scheme.
The Regional Trial Court (RTC) Branch 46 in Alabel, Sarangani, confirmed Monday that it has issued a warrant of arrest against the board of directors and other officials of the Alabel-Maasim Credit Cooperative (Alamcco) for syndicated estafa.
The arrest warrant, copies of which circulated in the social media over the weekend, was signed by Judge Rebecca Dardo-Seredrica on February 18 and was served to respondents starting February 20, a court employee told PNA.
The charges against the cooperative, which was filed by the Sarangani Provincial Prosecutor’s Office, was based on complaints from members who were allegedly victimized by its defunct investment scheme.
Ordered arrested were Alamcco founder and chairman Pastor Jerson Cagang, and board of directors and officials identified as Conrado Mancao, Tirso Cereno, Juanito Jhon Castillo, Benigno Cereno, Albert Cagang, Fe Cagang, Ailene Mancao, Roshine Cereno, Jason Baybay, Liezel Vilan, Ivy Caparos, Calixto Bana-ay, Marlyn Tulio, Diana Ferry Sope, Anni Joy Dela Cruz, Marlon Marvin Lim, and Eustaquio Hocson.
Alamcco had been flagged by the Securities and Exchange Commission and the Cooperative Development Authority for illegally soliciting investments from the public at a monthly interest of 35 percent.
Acting on a directive from President Rodrigo Duterte, agents from the National Bureau of Investigation (NBI) raided Alamcco’s offices in June last year in Alabel, Sarangani, Koronadal City and in this city.
In September last year, the NBI filed complaints of syndicated estafa and violation of the Securities Regulation Code before the Department of Justice’s special task force in Manila against 39 officials and individuals connected with Alamcco for engaging in unauthorized and Ponzi-like investment operations.
Col. Lex Ephraim Gurat, Sarangani police director, said they have started monitoring the whereabouts of the respondents but clarified that they have yet to receive the official copy of the warrant of arrest from the court.
“We’re ready to implement it. We are mandated to comply with the order of the court,” Gurat said in a text message. (PNA)
Local authorities in Tagum City, Davao del Norte condemned the series of murders in the city in the past month, all of which were attributed to the various investment scams that thrived in the area.
Brig. Gen. Marcelo Morales, director of Police Regional Office 11 (PRO-11), said in an interview on Friday the killings are linked to the investment schemes that began in Tagum City in the summer this year.
In August alone, at least seven killings in various parts of Tagum were reported, prompting Morales to direct newly installed police chief, Lt. Col. Ariel Acala, to implement tight security measures and manhunt against the suspects.
About three dozens of outfits ran the scam that defrauded investors in the get-rich-scheme that promised as high as 400% in returns on investments.
Almost all of the companies were closed in June following President Rodrigo Duterte’s crackdown on dubious schemes.
“They have to be aggressive in all police operations and intensify anti-criminality programs implemented by PRO-11,” Morales said amid the spate of killings.
“I condemned these incidents. I myself wanted to protest against these investment scheme operators and give the money back to the investors,” he added.
On the other hand, Tagum City Mayor Allan Rellon issued a statement on Thursday afternoon following the killing of Judylou Palas, reportedly a daughter of an investment firm agent.
Police said the death of Palas could be related to her mother’s job as a former agent of PLC investment firm, which offered high returns to investors before it went out of business in June.
“The act of violence that targeted the hapless individuals in Tagum City is barbaric, yet smacked of cowardice in view of the perpetrators’ perceived cloak of anonymity,” Rellon said.
Rellon ordered the Tagum City police to ensure that the perpetrators are caught and held liable for the crime.
“We enjoin the public to be vigilant especially during these trying times and to coordinate with the authorities in cases when information about crimes being committed or are about to be committed fall within their reach,” the mayor added. (with PNA report)