More firms in task force watchlist

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BAGUIO CITY  – The Anti-Investment Scam Task Force recently released the various companies that have been tagged as ‘ponzi firms’ for offering to the public unimaginable interests in exchange for their investments in order to guide the people not to place their hard earned money into securities that might end up to be nothing at the end with the owners carting away the money of the people.

The task force wants the public to be aware of the various illegal schemes that are being practiced by the said companies in order for them to be forewarned and take the necessary precautions to protect their money from being lost without benefitting from it once carted away by the unscrupulous owners of the ‘ponzi firms’ that have proliferated in the different parts of the Cordillera.

Task force officers appealed to the public not to be easily carried away by the sugar-coated words of the owners and employees of the companies considering that the interests being offered by the ‘ponzi firms’ are illegal and unreasonable in most instances.

The suspected ‘ponzi firms’ being closely watched by the different members of the task force are;

The task force is composed of representatives from the Criminal Investigation and Detection Group – North Central Luzon Unit, National Bureau of Investigation, Securities and Exchange Commission, Bureau of Internal Revenue, National Intelligence Coordinating Authority, Department of Trade and Industry and the concerned police offices in the areas where the alleged ‘ponzi firms’ are operating.

It was learned the ‘ponzi firms’ offer to their prospective clients a whooping 35-60 percent monthly interest for their investments which attract people to infuse their money to the company without even ensuring the guarantee of return. While it is true that investors get their reported pay outs during the initial stages of their investments, the company suddenly closes operation without warning with the operators carting the millions of pesos of heard earned money of the recruited members.

The task force appealed to those who were fooled by the different companies to immediately report to any of the task force members for them to assist in the filing of the complaints against the company owners for them to answer for the crimes that they have committed against the innocent and willing investors.

By Dexter A. See

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