Authorities are building up a case against operators of illegal investment companies in the region.
Brig. Gen. Marcelo Morales told reporters Wednesday, at the sidelines of the IED awareness seminar conducted by the Philippine Bomb Data center at Grand Men Seng hotel, that the Regional Inter-Agency Task Force are closely monitoring the investment companies that continue to operate without the proper legal documents.
“Whoever those companies that are still conducting a secret operation will be the subject of our operations in coordination with the different concerned agencies of the Inter-Agency Task Force, ” he added.
Meanwhile, Maj. Jason Baria, spokesperson of PRO XI, said there are 13 individuals who filed a blotter against Titan 29, one person who filed a report on Power Play and another one on Questlink Marketing Services, where the chief executive officer and operations manager ran away with the P200 million invested by members.
“The DILG ordered to revoke their permits, ” Baria said. “We are also looking at the concerned agencies that will also be involved.”
Baria also clarified the 70 people who went to the Tagum City Police Station did not file a complaint. Only 15 of those filed a blotter and only one committed to pursue a case.
“I don’t know (if there are reports) against Kapa,” he added.
Also, Baria said they still have to receive the report about somebody who reportedly committed suicide after the Kapa was closed down.
Meanwhile, he said they are looking at the background of all the founders and officers of these investment companies to determine “if they are previously engaged in fraud.”