The National Bureau of Investigation in Ilocos Norte vowed to help probe the alleged “paluwagan” investment scam in the province in response to the request of several complainants who claimed to be victims of said scam.
Lawyer Diosdado Araos, NBI chief in Laoag City, said they would verify first if the investment business has the legal permit and document to operate and transact business with the public.
If the victims’ complaint is verified, the suspected operators of the controversial business would possibly face syndicated large scale estafa charges, it was learned.
On Wednesday, a group of complainants trooped to the compound of NBI office along P. Gomez Avenue, this city and sought the assistance of the NBI authorities.
The group carried placards and displayed blow-up bust photos of at least four identified personalities whom the complainants tagged as administrative officers of the said investment business.
The complainants told reporters that they were demanding for the return of their invested money, a total of which may reach P8.2 million but the concerned management allegedly refused to refund their money on the allegation that the money already went to the hands of their recruited members-investors. (Sentinel Dispatch based on broadcast news courtesy of ABS-CBN TV Patrol Ilocos/GA & KL reports)
Online “paluwagan” scam under probe
LAOAG CITY, Ilocos Norte, Sept. 8, 2015 (PIA) – – Local police authorities are presently investigating the alleged online “paluwagan” investment scam reportedly proliferating in this city.
The modus operandi of the agents of the alleged “paluwagan” is to recruit a person to invest Php 1,500. The ‘investment’ amount later becomes Php 10,000 which he or she will get it the moment a newly- recruited member or investor can recruit more members for the group.
Superintendent Jeffrey Gorospe, Laoag City chief of police, said they were gathering information to confirm the veracity of the reported existence of this kind of illegal investment activity.
Gorospe warned the public to avoid this kind of business activity as he considered it as a pyramid scam.
“I warned the public to be extra careful to make sure to invest your hard – earned money only to the legal and secured investment companies,” he said.
Meanwhile, the Laoag City officials called on the Department of Trade and Industry (DTI) and the Bureau of Internal Revenue (BIR) to help probe the alleged scam. (Freddie G. Lazaro/PIA- I Ilocos Norte)