The offer is enticing: 30% interest for 40 days on any amount an investor gives to the operating company.
Some vendors from this tourist town including some folks from northern Sagada gave as low as P10,000 to as high as P500,000 for that prized 30% interest return to operators of a company called Intensity 8 General Merchandise. Of the interest earned are points equivalent to a product like a television or a rice cooker. One will also get 5% from the invested amount of recruited referrals.
This, as victims decided not to file charges anymore against the suspect-scammers following a settlement that suspects pay back their investors within a month. Police investigation noted an estimated P3 million given by the investors to the company operators.
The pay-outs were good and coming from April 2019 to June 2019 till the 1st week of July when things began to get fishy. Operators from a certain company called Intensity 8 General Merchandise were not able to give their pay-outs first week of July to their investors, police records reveal.
It has also been noticed by the landlady of the place the suspects rented that they vacated their rented rooms on July 10 which prompted the landlady to report the incident to the Sagada police station.
The suspect- scammers were intercepted at Sinto, Bauko by the Mountain Province Police Mobile Force Company (MPPMFC) following alert given by the Sagada police led by OIC-Chief of Police Robert Sagandoy.
Four occupants of a Nissan Almera vehicle with plate number F2E821 were bought back to Sagada by the police from the municipal police station.
The four suspects are Arnold Dequit Quejada, 36, married from Cainta, Rizal; Alfred Quitoriano Nolasco, 25, married from Rodriguez, Rizal; Norberto Tulda Nolasco, 41, married from Mauban, Quezon City; and Marlon Villasenor Dipad, 37, married from Plaridel, Bulacan.
Charges were being readied on alleged syndicated estafa against the suspects when the victims desisted and decided not to file charges anymore, police said.
On July 14, victims settled for an agreement to pay within one-month with security given the said Nissan Almera left in Sagada and a post- dated cheque of half a million pesos issued in the name of one of the victims.
A certain Colonel Guimbawan who claimed he is from from PSG (presidential security group) and a pastor from Iglesia ni Cristo were with the suspects during the settlement, it was learned. They left town with the suspects after the settlement.
Suspects were detained at the municipal jail for three days before they were released following an affidavit of desistance signed by the investors.
It was learned that the Nissan Almera has no registration papers left to the victims.
Sagandoy warned the public to check registration papers of any company offering their investment schemes.
It was not long ago when the public was duped of pyramiding scams of Satarah Wellness and Linecard through recruitment of refererrals with the promise of bigger financial returns far beyond bank interest rates.
#InvestmentScam #Sagada #MtProvince #Intensity8GeneralMerchandise
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