DAVAO City Business Bureau (CBB) issued a cease and desist order (CDO) against Jogle Innovative Marketing for operating without necessary permits on Wednesday afternoon, May 29.
CBB issued the order the same day Police Regional Office (PRO) Regional Director Marcelo Morales and his team conducted a surprise inspection at its office in Roldan Village, Barangay Maa.
Davao City Anti-Scam Unit (ASU) head Simplicio Sagarino said Jogle cannot conduct any transaction to its clients after failing to secure necessary documents such as business permits coming from CBB, Bureau of Internal Revenue, Department of Trade and Industry, and clearance from Securities and Exchange Commission.
Sagarino said prior to the police inspection, he said both CBB and ASU are already aware of Jogle's illegal operation after someone tipped its operation.
Jogle opened last Tuesday, May 28, in Davao City.
"Prior sa operation, natagaan mi og copy sa CIDG (Criminal Investigation and Detection Group) wherein isa sila (Jogle) sa gi-identify nga nagapaluyo og investment scheme (Prior to the operation, we were given copy by the CIDG where Jogle is one of those identified to have an investment scheme)," Sagarino said.
Jogle is the second investment company to have been issued a CDO by the CBB this year.
Earlier this month, Rigen Marketing was also barred from operating for also failing to secure necessary documents for it to operate.
Sagarino said Rigen's camp has not yet showed up to comply with its permit since the CDO was issued.
Meanwhile, he said his unit is also monitoring another investment firm supposedly operating in the city.
While he did not mention the name of the firm, he said ASU will continuously monitor any existing firms offering investment scheme to ensure the welfare of those who will be investing.
"Ato kana pangitaag pamaagi na makaanhi sila sa office. Ato kana sila pangayuan og necessary documents (We will find ways to have them report in our office, and would ask them the necessary documents before they could operate)," Sagarino said.
He also reminded all Dabawenyos to be careful and vigilant in investing their money on suspicious investment firm.