NBI team busts investment scam

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NBI team busts investment scam

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After Thursday night’s raid on what had been considered the most lucrative investment offered to Boholanos, the National Bureau of Investigation intends to run after the rest in the long list of alleged investment scams in the province.

NBI-7 Special Investigator Agapito Gierran issued the warning in line with their agency’s mandate to protect Boholanos from deceitful designs in the guise of a lucrative return of investment.

Gierran led a team from the NBI-Central Visayas Regional Office-VII stationed in Cebu City and swooped down the business office of Klikmart Shopping Mart Corporation, also known as Klikmart Rewards, along Palma St., this city for alleged violations of Republic Act 8799 or “The Securities Regulation Code”.

However, members of Klikmart Rewards attested that they had considerably benefited from the company through fast return of their investment at a minimum of P1,500 and some of them already started receiving P15,000 twice a month. This made many of the members or investors believe that there’s nothing wrong with the operation of Klikmart Rewards.

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The NBI team conducted the raid from 7 p.m. to past 11 p.m. on September 3, based on a search warrant issued by Vice Executive Judge Leo Moises Lison.

The search warrant was received by a certain Ruben Lurot.

Based on examination, under oath and affirmation of witnesses or complainant, Vice Executive Judge Lison personally determined a probable cause that gave merit for the issuance of the search warrant, according to Gierran.

The vice executive judge saw probable cause of the violation defined and penalized under Sec. 8 and Sec. 28 in relation to Sec. 73 of RA 8799 or “The Securities Regulation Code” committed by Klikmart Shopping Club Corporation or also known as Klikmart Rewards, its owner or proprietors, lessors, lessees, directors, officers, managers, employees, and occupants of the 2nd level concrete house located at Palma St., Tagbilaran City where the investment company held office.

The NBI team confiscated the subjects of the offense such as the sales invoices, membership registration forms, official receipts, trust receipts, provisional receipts, ledgers, journals, and all other books of accounts and documents used in recording the investment.

The raiding team also confiscated the proceeds or collected monies in the purported investment activities, as well as flyers and any advertising manuals, paraphernalia used in the commission of an offense, and also other things used to promote illegal activities such as projector or visual aid, laptop, desktop computers and security cameras.

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Section 8 of The Securities Regulation Code delves on the Requirement of Registration of Securities which provides that “Securities shall not be sold or offered for sale or distribution within the Philippines, without a registration statement duly filed with and approved by the Commission. Prior to such sale, information on the securities, in such form and with such substance as the Commission may prescribe, shall be made available to each prospective purchaser”.

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Section 28 of The Securities Regulation Code which is on Registration of Brokers, Dealers, Salesmen and Associated Persons provides that “No person shall engage in the business of buying or selling securities in the Philippine as a broker or dealer, or act as a salesman, or an associated person of any broker or dealer unless registered as such with the Commission”.

Under Section 73 of the law, violators will be fined P50,000 to P5 million or imprisonment of seven years to 21 years, or both in the discretion of the court.

Aside from Klikmart, the NBI-7 team is tracking down two to three more suspected investment scams operating in Bohol, Gierran said.

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For the meantime, Gierran advised Boholanos to be careful and be suspecting about companies that offer instant and out-of-proportion return of investment as it might not last.

One Comment

  1. Jason Jason September 7, 2015

    Gbutang diri sa news nga na issue ang search warrant kay diha’y complainant. Kinsa man ang complainant? Ang NBI mao raman ang ga implement? So sa ato pa naay complainant. kung wala nag paila kana makaduda pag ayo.

    Ang kaning sa Bohol, branch ra ni sa Corp. office sa Manila. Nganong wala man unaha ang kadtong sa Corp. Office kung ang SEC certificate man gani ang isyu?

    Nabalita na ba nga maka operate nasab ug balik ang maong Klikmart?

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