BUSTED. Law enforces in Caraga Region seize some PHP23 million in cash and other pieces of evidence from the operators of illegal investment firm Forex Rice Trading Wednesday evening in Nasipit, Agusan del Norte. (Photos courtesy of CIDG-Caraga)
SURIGAO CITY -- Criminal Investigation and Detection Group (CIDG) agents seized more than PHP23 million in cash from an unregistered investment company in the Agusan del Norte town of Nasipit on Wednesday evening, police said.
Lt. Col. Cholijun Caduyac, CIDG-Caraga director, said Thursday the cash -- stored in plastic boxes --were among the pieces of evidence seized by law enforcers in Barangay Cubi-Cubi, Nasipit at about 7 p.m.
Caduyac said the cash belongs to operators of Forex Rice Trading, an illegal investment company operating in Agusan del Norte but has clients all over Mindanao.
He said the operation, led by CIDG-Caraga Deputy Director Eugene Balugo, was prompted by a civilian tip on an ongoing "payout" frenzy in a house of one operator whose identity remains unknown.
Balugo said they are already verifying the names of Forex's owners and its agents, who he said are liable for syndicated estafa. Culprits, he said, can be arrested even without arrest warrants, as it is a "continuing crime."
Aside from the cash, Balugo said they also confiscated three counting machines, 127 logbooks, and bundles of acknowledgment receipts.
Caduyac said the raid against Forex was in line with President Rodrigo R. Duterte's order to shut down illegal investment schemes and other Ponzi schemes to protect the public.
The CIDG-Caraga official also called on the company's investors to coordinate with their office for the filing of cases against Forex's operators. (PNA)
