Luis Manzano seeks NBI probe into Flex Fuel investment mess
MANILA, Philippines — Actor Luis Manzano recently sought the help of the National Bureau of Investigation (NBI) in probing an investment mess he had been dragged into concerning the Flex Fuel Petroleum Corp., which is part of the ICM Group owned by Ildefonso “Bong” Medel Jr.
According to the statement issued on Wednesday, Flex investors have been asking Manzano to help them recover their money from the company.
Manzano’s counsel, Regidor Caringal, noted that they had sent a letter to the NBI, dated Nov. 8, 2022, saying that the actor had already resigned as board chairman of several companies under the ICM Group.
Manzano’s camp made the clarification after he and Medel faced a complaint before the NBI, according to a Bilyonaryo report.
The report stated that 100 investors failed to recover their investment of nearly P1 million each. Five of them lodged a complaint with the NBI.
For their part, Caringal also said that Manzano was appealing to the NBI “to conduct an investigation on this matter.”
In an affidavit dated Dec. 21, 2022, Manzano confirmed that “up to now, there are still individuals reaching out to me for help and assistance regarding their investments in Flex Fuel.”
Manzano explained that he was made the chairman of the board “as one of the guaranties for my investment.”
“Bong [Medel] conducted the business in such a way that operational matters were kept away from me,” the actor said, adding that he never took part in the management of the business.
Manzano’s camp also pointed out that Medel also owed the actor P66 million in investments.