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SEC warns of new investment scams in Camiguin, C. de Oro VOL. 2, No. 190
Cagayan de Oro City
By Allan M. Mediante of Mindanao Daily News
THE Securities and Exchange Commission (SEC) has issued anew an advisory warning the public to be aware of another investment scam reported in the island province of Camiguin and the city of Cagayan de Oro. SEC chair Teresita J. Herbosa in a statement issued December 19, said
that the SEC has received reports “...that a group of persons, company
Thursday
or firm operating in Cagayan Province, Ilocos Norte,and Camiguin Island and Cagayan de Oro City offer securities and investment opportunities to the public, particularly domestic helpers, promising a hefty income or big return, that is––a P100 investment made is assured of earning P900 every month.”
December 27, 2012
Herbosa said the public should not invest their money in such fraudulent or suspicious transactions because the promise of earning a very high income, which is too good to be true, is false or an investment scam. The public is advised that if anybody is being approached with such
P10.00
type of scam, he or she should immediately call the Investment Protection and Surveillance Department (“IPSD”) of the SEC attelephone No. 584-5476, or report the matter to the SEC website at www.secgov. ph, or write to IPSD at Securities and Exchange Commission, 10th Floor, SEC Bldg/. EDSA, Man-
daluyong City. It can be remembered that a series of expose’ has been done on pyramiding and other investment scam which recently hit Mindanao, particularly in this city, Misamis Oriental, Lanao and Zamboanga provinces. Foremost were the Ahman and Rashuman scam cases.