AS INVESTMENT schemes continue to make headlines, the Department of the Interior and Local Government (DILG) in Davao Region questioned the local government units (LGUs) for issuing business permits to the companies without verifying their operations.
These alleged Ponzi-like investment schemes caught the ire of President Rodrigo Duterte who ordered law enforcement agencies to shut these down especially the Kapa Community Ministry International, which he said is a clear pyramiding scheme.
“Ang isa sa akong mga question is, when they applied for business permit, gisiguro ba sa local government units that these organizations sigurado ba nga naa bay incorporations, corporations ni siya. Kung single proprietorship, kinsa man ning tawhana, naa bani siyay capital (My question to the LGUs, when these firms applied for business permits, did they assure that these organizations have secured SEC registration? If they are sole proprietors or not? Did they question their identities and capital?),” DILG 11 Regional Director Alex Roldan said.
He added, “Nganong gitugutan sa mga LGUs? They are supposed to be in the forefront of making sure that ang business nga nag operate sa ilahang city are operating legally (Why did they allow these investment schemes? The LGUs must be at the forefront in making sure that the businesses operating in their jurisdiction are legal),”
Earlier, the Police Regional Office in Davao (PRO 11) led the creation of an inter-agency task force designed to crack down on alleged fraudulent financial investment schemes proliferating in Tagum City.
“Dili man tong business permit mu-issue kalang eh, you have to look at the documents. Dunay probability nga pwedeng ipa-investigate even local government unit for issuing business permits (LGUs should not merely issue a business permit, they have to look at the documents. There is a probability that they will be investigated for issuing business permits),” Roldan said.
They may investigate the LGUs soon but for now, they are focused on dismantling these easy money schemes and ensure that the investments of their investors will be returned.
“Sa amin lang is for local government units to follow what is required by law,” Roldan said.