Cops warned vs investment scams

March 22, 2019

POLICE Regional Office 12 director, Chief Superintendent Eliseo T. Rasco yesterday warned his men anew to be wary of the presence of members of syndicates involved in investment scams which have victimized hundreds of uniformed personnel across the country.

The official called on his officers and men to stay away from people who are enticing them to invest their hard-earned money to business ventures which pays higher than the going market rate since in most probability, they are scams in reality.

Since last January, Rasco had called on PRO12 personnel to be cautious of emerging investment scams in the region and to think twice or thrice, if not abstain from entrusting their savings for a promise of a very big return of investment.

The official issued the warning in the wake of dozens of complaints being circulated thru the social media and text messages regarding an alleged multi-billion investment scam in the region specifically in General Santos City.     

He named the subject of the complaint as the Police Paluwagan Movement (PPM) whose victims are said to be mostly uniformed personnel of PRO12.

According to Rasco, the ‘brains’ behind the scam and their recruiters convince policemen to invest money which will earn them 60 to 100 percent interest every 15th and 30th of the month.

Following the complaints, the official directed the PRO12 Regional Investigation and Detective Division to conduct a formal investigation into the complaints.

He likewise encouraged complainants to come out in the open and file formal charges against the suspects in court. “I want the complainants to hold the suspects responsible in court taking into account that the scammers have reportedly amassed billions of pesos,” Rasco said.

Rasco also called on residents of Mindanao particularly in Region 12 whether they are members of the uniformed service or ordinary civilians to refrain from patronizing the PPM and other similar investment entities.