Sat, 14 Dec 2019

Tagum creates inter-agency task force vs investment scams

Philippine Information Agency
14 Jun 2019, 18:38 GMT+10

TAGUM CITY, Davao del Norte (PIA) - An inter-agency task force against investment scams will operate in Tagum City this week.

Mayor Allan L. Rellon revealed in an interview that the City Peace and Order Council (CPOC) has issued a resolution proposing the creation of such task force that would determine the identities and locations of companies involved in get-rich-quick scams.

Rellon said the task force will investigate the companies' actual operation and activities vis-à-vis their declared transactions based on their business permit.

The task force would submit its recommendations to the Office of the City Mayor based on findings made on "research, visitation and inspections" made, he said.

On top of the task force's objectives "is to organize an information campaign to educate people regarding the so-called investment schemes."

Rellon said he wanted to prevent Tagumenyos from falling prey to investment scheme operators "who really had no capacity to deliver as expected and who, in the long run, would just run away with the millions of pesos they had accumulated."

He said the task force will take over the initial steps he took to address the proliferation of investment schemes in Tagum City.

Rellon said he referred to the Philippine National Police (PNP) the advisory of the Department of Interior and Local Government regarding a sectarian group operating an investment scheme, and asked the police to assist the Securities and Exchange Commission in its enforcement operation.

In his public pronouncements, he had cautioned people against taking the gamble of losing their money to investment scams. "It is your money you can decide on your own but be careful," he said.

Lately, Rellon summoned all investment scheme operators and their representatives in a meeting during which he told them not to play games and make the Tagumenyos victims of money-making schemes.

"Ayaw binuangi ang katawhan sa Tagum kay nailhan na mo," (Don't fool the people of Tagum for you are known) he said recalling his message to them.

Aside from identifying them, Rellon also challenged them to comply with the necessary requirements of running their businesses in the city. (PIA XI)

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