AN OFFICIAL of the Securities and Exchange Commission in Northern Mindanao (SEC-10) on Monday, October 29, said more investors have come forward to file a complaint against the Freedom Traders Club (FTC) and its controversial Ploutus Coin investment scheme.

SEC-Northern Mindanao Director Renato Egypto said FTC could be slapped with syndicated estafa charges once the number of complainants reaches five.

"Depende if it warrants according sa surrounding circumstances and evidences kung ma-fall sa syndicated estafa kay it involved at least five complainants pataas," Egypto said.

Egytpo said he has learned that more investors, not only in Cagayan de Oro City, wanted to file a formal complaint against FTC after its founder, Mark Freeman, failed to make payouts as promised last September.

"Kato kay wala natuman usa ka na ka element sa estafa nga he was not able to make good sa iyang promise," Egypto said.

He said they were closely coordinating with the National Bureau of Investigation-Northern Mindanao (NBI-10).

"Sa akong nahibal-an ubay-ubay na ang complaints nga naa sa NBI," Egytpo said. (I have learned that several complaints have been filed with the NBI.)

The complaints have been distributed among the different NBI-10 investigators and agents.

Meanwhile, Egypto said they were awaiting the head office's issuance of a cease and desist order (CDO) against FTC and Ploutus Coins.

He said the SEC-Northern Mindanao requested for the CDO issuance in late September.

"Ang ingon sa head office ila pang gi-evaluate (It is under evaluation)," he said.