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Beware of investment scammers in Soccsksargen – police

By: - Reporter / @CMarquezINQ
/ 08:49 PM May 22, 2019
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MANILA, Philippines — The Soccskargen Police Regional Office (PRO 12) reminded the public to be vigilant about investment scams, pointing out that even police officials had fallen for them.

“Our best tool now to mitigate these fraudulent investment offers is getting information out to the public, yet again — to advise our people that they need to be very careful before making investments,” Brig. Gen. Eliseo Rasco, director of PRO 12 said in a statement issued on Wednesday.

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According to PRO 12, scammers continue to operate in the Soccsksargen Region, duping even high ranking police officials into shelling out billions of pesos with their “fraudulent investment schemes.”

Soccsksargen is an administrative region in south-central Mindanao that is composed of four provinces — South Cotabato, Cotabato, Sultan Kudarat, and Sarangani — and General Santos City.

The scams use “deceiving and alluring appeal of outsized returns or secured and guaranteed payouts, ranging from 30 percent up to 400 percent per month,” PRO 12 said.

According to the statement, some police officers had also lost millions to billions in the Police Paluwagan Movement (PPM), which closed in March 2019

PRO 12 issued the following tips for avoiding investment scams:

1. Take time to check that the investment opportunities offered to you are legitimate before you hand over any money. Don’t be persuaded by the high-yield “guaranteed returns” that these scams promote.

2. Be suspicious of these “investment offers.” Even if someone you know or trust makes the offer, check it out first. Don’t rush to invest. Ask questions and get answers that you can verify, either with the police or with the Securities and Exchange Commission.

3. If you suspect that you’re dealing with scammers or if you have already been victimized, file a complaint with PRO 12, the Criminal Investigation and Detection Group (CIDG), or the National Bureau of Investigation (NBI).

(Editor: Alexander T. Magno)

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TAGS: Eliseo Rasco, investment scam alert, PRO 12, Region 12 investment scams, Soccsksargen investment scams
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