Home Scam/Fraud Stop investing in dubious schemes, public warned  – Mindanao Times

Stop investing in dubious schemes, public warned  – Mindanao Times

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THE Securities and Exchange Commission-Davao Extension Office has reiterated its call to the public not to invest in questionable entities because of the risk of losing their investments.

The call was made after 25 residents of General Santos City filed a complaint with the National Bureau of Investigation national headquarters after claiming that an entity failed to honor its promise for a 30% monthly return of investment.

Lawyer Katrina Jamilla P. Estares, SEC-Davao Extension Office director, said the public must always consider that, aside from not having licenses, when an entity promises huge investment, it is automatically a red flag.

A company that wants to engage in investment-taking would need, aside from a huge capital, “facilities that would prove that its operations are sustainable like investment houses and licenses for investment-taking aside from company certification and permits from the local government…

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