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ARMY: No soldier invested in pyramiding schemes

An official of the 1003rd Infantry Brigade yesterday cautioned soldiers against joining get-rich schemes even as the army hasn’t monitored any of its troops investing any of their money.

Speaking in yesterday’s AFP-PNP press briefing held at the Royal Mandaya hotel, Col. Nolasco Mempin, the commander of 1003rd IB, said, “There are no specific guidance but the instruction is to really be cautious and be wary of the investment because what will happen is they will be just victims and later on lost lots of money that could result in more financial problems.”

Last week, PRO XI director Brig. Gen. Marcelo Morales announced that they already closed down 14 money investment companies for failing to show proper documents for their operations. He said they will continue to monitor other companies.

On Wednesday last week, Morales led the closure of Jogle Marketing, which didn’t have a business permit from Davao City although it’s registered in Tagum City.

Maj. Jason Baria, the spokesperson of Police Regional Office XI, said they are just waiting for an update from the task force created to monitor these companies for further action.

“They can operate in Tagum but not in Davao so the regional director advised them not to proceed with their operation since they lack the permit,” Baria said.

Also the same week, Morales inspected the GP marketing in Tagum and Rigen in Carmen, which could only show a different permit other than the purpose of their business.

Also , Senior Fire Officer 3 Ramil Gillado, the chief intelligence and investigation officer of the Bureau of Fire and Protection XI, said they also haven’t monitored any of their personnel who were joining these illegal investments firms.

In General Santos, several police officers lost their hard-earned money to the P2-billion Pulis Paluwagan Movement. Three police officials were sacked because of the pyramiding scheme.

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