Operatives of the Criminal Investigation and Detection Group (CIDG) on Tuesday raided the office of the Organico Agribusiness Ventures Corp. in Tagbilaran City which is allegedly involved in an investment scam, amid a nationwide crackdown on organizations involved in fraudulent investments.
The CIDG armed with a search warrant entered Organico’s office at the Seaview Commercial Building along Gallares Street at 9 a.m. but found the place to have been abandoned, said CIDG Bohol chief Major Patrick Ramillano.
“Pagdating naming sa Organico office wala ng tao at tsaka papers and documents inalis na rin nila. Yung office nila wala ng tao. Naka lock. Wala ring documents,” he said.
Organico has been accused of violating Section Section 8.1 in relation to Section 73 of Republic Act 8799, otherwise known as the Securities Regulation Code of the Philippines.
According to Ramillano, the company had no approval from the SEC to acccept investments.
He said some investors have been told that they will get a text message as to when they will get their payouts.
“Yung initerview natin yung mga investor ng Organico sabi nila itext nalang daw sila sa payout nila dun daw sila babayaran,” Ramillano added.
For his part, Atty. Alan Tamis, an SEC representative who joined the CIDG raid, said that they have long been monitoring Organico.
“Kung mapapansin niyo nagkakaroon na ng operations, lumabas na sa social media and sa dyaryo. Isa na tong Organico na matagal ng sinusubaybayan ng ating commission. Pagdating nga lang natin ditto, malinis na yung ilang opisina,” he said.
Three employees of the company were identified as Ryan Ochavillo, branch manager; Jeannette Lomotos, teller; and Hermogenes Quilario, Jr., front desk officer through the warrant issued by the Regional Trial Court Branch 20 in Manila.
Law enforcers were supposedly ordered to seize from the three individuals draft contracts, fliers, officials receipts, acknowledgement receipts, logbooks, bankbooks, investment ledger, checkbooks, computers, laptops and cash which may have been linked to the commission of the violation.
According to Ramillano, Organico promised a return of up to 66 percent.
“For now wala pa kaming figures kung ilan yung mga nag-invest. Pero we are encouraging yung mga nag-invest na hindi pa nababayaran to file a complaint sa opisina natin sa CIDG Bohol,” he said.
Tamis, echoing a statement from President Duterte who ordered the intensified drive against investment scams said “if it’s too good to be true, dapat pinagiisipan na nila.” (A. Doydora)