DTI, NBI, CIDG in Palawan pool efforts vs networking, pyramiding scams (Philippines News Agency)

The Department of Trade and Industry (DTI) is partnering with the government’s investigation and detection bureaus to ferret out the so-called illegal operation in this city and the province of Palawan of several networking and pyramiding scams.

In a media conference Monday afternoon, DTI Provincial Director Rosenda Fortunado said they are closely working now with the National Bureau of Investigation (NBI) and the Criminal Investigation and Detection Group (CIDG) to probe into alleged spread of networking schemes that are scamming PalaweAos of their hard-earned money.

She explained that the media conference was called following an advisory from the Securities and Exchange Commission (SEC) last February that warns residents of Puerto Princesa and Palawan to be careful about networking and pyramiding schemes that promise to return their money in many folds.

The advisory is presaging the public too, against EMGOLDEX Philippines that recently published a bogus SEC advisory with the illicit use of the government office’s official logo.

Fortunado said EMGOLDEX Philippines was never authorized by SEC to use its logo in its networking business in the country because it is not registered to legally solicit investments from the public.

She furthered that although EMGOLDEX is registered in Germany, Dubai and Cyprus, it is not registered in the Philippines. This means it can collect nor solicit investments without license and registration from the SEC.

Any agent of the corporation who is soliciting must have the license from SEC. Whatever activities that has no license is strictly prohibited by the law, and has appropriate punishment, she said.

Aside from EMGOLDEX, the DTI, NBI and CIDG also warned against SUCCESS200 International Marketing Corporation, One Lighting Corporation, EMGOLDEX Philippines Pinoy Style Patak-Patak, J79 GLORE ONLINE MARKETING, and GOLDXTREME Trading Co. that operates like EMGOLDEX because they are not SEC-registered.

Lawyer Alexander Santos of the NBI; PCI Danilo M. Tarum, acting CIDG chief, and SPO2 Antonio Magbanua, spokesperson of the CIDG-Palawan all forewarned that the residents of Puerto Princesa and municipalities in Palawan should be careful against anyone who recruits them to invest money in the said schemes.

They should think twice before they invest their hard-earned money in these schemes because they might lose them, they said.

For complaints against dubious networking and pyramiding schemes, the public may report to them through the Enforcement and Investor Protection Department at (02) 584-7187 or (02) 584-7652 or 0917-827-1126 (CIDG-Palawan) at 0905-299-6558 (NBI-PUERDO) MTVR 8-10-2015 and #8234;# and #8206;SUCCESS200 and #8236; and #8234;# and #8206;scam (PNA)CTB/CARF and #8236; and #8236;/ebp

Related posts