Brigadier General Marcelo Morales, Police Regional Office (PRO)-11 director, warns police personnel from engaging in shady investment schemes. (File Photo)
DAVAO CITY – The chief of the Police Regional Office in Davao Region (PRO-11) has warned members of the Philippine National Police (PNP) in his jurisdiction against getting involved in the rampant easy-money-schemes.
Brig. Gen. Marcelo Morales issued the warning Wednesday as he warned that those who participate in dubious investment schemes will face administrative charges, for violation of the Code of Ethical Standards and for insubordination.
While he has no solid proof that some police officers are involved in such activities, Morales said he has heard that some police officers are putting their hard-earned money into it.
He said it is not only the police personnel who are investing in shady investment schemes but also known local personalities who act as recruiters to attract investors.
Morales said there are about 10 establishments in the region offering shady investment schemes. Most of these dubious businesses, he lamented, have acquired permits from local government units even in the absence of authority to engage in solicitation of investments from the Banko Sentral ng Pilipinas, the Bureau of Internal Revenue, and other government agencies.
Investment schemes have become rampant in the region, especially in Davao del Norte, where people from nearby towns and even Davao City go to invest for a promised return of up to 400 times per month.
“Our ultimate goal here is to stop fraudulent schemes. Marami na ang nasilaw dhail sa taas ng interest (Many are attracted because of the high interest),” Morales said.
Morales has already issued a directive to all provincial, city and municipal chiefs of police to enforce the cease and desist order (CDO) issued by the Securities and Exchange Commission (SEC) against KAPA-Community Ministry International, Inc. and other easy-money-schemes.
“You are directed to implement the full force of the law regarding the illegal operations of any easy-money-schemes. Investigate and arrest all operators, marketing and establishments (agents) who do not have pertinent legal documents for their operations,” said Morales in his order dated May 28.
The police regional director also directed all chiefs of police to provide the necessary assistance to the SEC in enforcing any legal orders against KAPA and easy money schemes, in accordance with operational procedures.
Last month, SEC has declared permanent an order barring Kapa-Community Ministry International, Inc. (KAPA) from soliciting investments from the public without the necessary license after finding substantial evidence that KAPA has offered and sold securities, in the form of investment contracts and in the guise of donations, without the necessary license and in a manner resembling a Ponzi scheme. (PNA)
