107 file syndicated estafa case vs Forex execs

Aside from Forex founder Dimber Celis, facing a complaint for syndicated estafa before the Department of Justice are 16 other officials for its involvement in an alleged large-scale investment scam. PHOTO/Cidg Caraga

Over 100 complainants filed on Tuesday a case of syndicated estafa against the owner and officials of FRX Rice Trading (Forex) for failing to return to the investors their money following an alleged raid on the firm’s safe house last week, which forced it to close shop.

Lt. Col. Cholijun Caduyac, director of the Philippine National Police Criminal Investigation and Detection Group in the Caraga (Region 13), said the case was filed after the complainants have come forward to testify on the group’s alleged illegal operations.

Caduyac said most of the complainants who came from Agusan del Norte, Agusan del Sur, Surigao del Sur, Butuan City and Kidapawan City started to pour in after the recovery of P23 million from the firm’s alleged safe house in a beach resort in Nasipit town in Agusan del Norte last June 26.

Aside from Forex founder Dimber Celis, facing a complaint for syndicated estafa before the Department of Justice (DOJ) are 16 other officials for its involvement in an alleged large-scale investment scam.

Caduyac claimed they had built up a solid case against Forex, which allegedly encouraging its preys to “invest” any amount in exchange of a 70-percent monthly return.

Caduyac said CIDG agents were trying to locate Celis and her cohorts and  vowed to arrest them.

For his part, Brigadier General Gilberto DC Cruz, Caraga police regional director, urged reluctant victims of Forex to come forward and file complaints.

The additional complaints, he said will not only strengthen the case against Forex but also deter other organizations offering similar high-yield investments in different areas in the region.

“It’s high time to put an end of this investment scam and I want every victim to come and file their official complaint,” Cruz said. By CLC

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