The National Bureau of Investigation (NBI) in Negros Oriental is investigating at least 30 alleged investment/financial scams with some complaints already filed in court.
Lawyer Rose Ann Montecalvo, Intelligence Agent III of the local office of the NBI, said Thursday that since she reported here on April 25, she learned that 40 percent of these complaints are estafa cases, “either large-scale or syndicated.”
Montecalvo told reporters at a Kapihan sa PIA forum on investment scams and responsible borrowing that in most cases, “the harsh truth is that there is slim to no chance” for the complainants to recover their money because they “voluntarily” gave it to these illicit investment schemes.
The NBI here has an average of six walk-in cases daily of scam victims, including “educated individuals, like judges and businessmen, she added.
Montecalvo said many of these complaints involve online investment scams through various payment platforms/apps.
She added that it is difficult to prosecute this type of investment fraud as there are no actual respondents, given that the money was transferred through online payment apps and the person behind the illicit transaction is unknown.
In many instances, only a handful of individuals in a large-scale investment scam are willing to file a complaint, as the primary interest of victims is to recover their money, Montecalvo said.
She noted that the NBI’s focus is on prosecution and not running after the suspects for the return of the money, as that is beyond the agency’s jurisdiction.
Montecalvo said she has not seen any case where money was returned to a victim of an investment scam.
She also lamented that many complainants do not return to the NBI office afterward to press criminal charges.
Meanwhile, the Securities and Exchange Commission in the Negros Island Region (SEC-NIR) called on the people to undertake due diligence and verify if a company is legitimate before investing their money to avoid falling prey to scammers.
However, lawyer Leo Salvador, Counsel II of the SEC-NIR, assured during the same forum that there are more registered corporations than illegitimate businesses in the region’s three provinces.
He said there are some 25,000 corporations, including partnerships, stock, and non-stock, in Negros Oriental, Negros Occidental, and Siquijor that are registered with the SEC.
Only about 1 percent or less of the registered businesses are illegitimate and are the ones involved in investment scams, he said.
“The illegitimate schemes are usually highlighted because people normally complain about investment scams, hence attracting public attention,” he said in mixed English and Cebuano.
Victims should also come out in the open to warn the public against investment scams, he added.
Salvador said the SEC is willing to assist the public in checking the legitimacy of a company.
Some of the reasons why people are victimized by scammers include the desire for “easy money”, desperation, greed, and persuasiveness of the recruiter.
The requirements for a legitimate investment/securities company are a certificate of registration with the SEC, articles of incorporation, by-laws, order of registration, certificate of permit to offer securities for sale, certificate of registration of a security sales person, and a registration statement on prospectus, Salvador said. (Judy F. Partlow)
