CEBU

Organico ‘fails’ to return investors’ money

DIS-ORGANICO. Complainants prepare documents outside the Criminal Investigation and Detection Group 7 office in Cebu City on Friday morning, Nov. 15, 2019, for the filing of complaints against Organico Agribusiness Ventures Corp., which they accused of failing to return their investments. (SunStar Photo/Arnold Bustamante)

HUNDREDS of new complainants flocked to the Criminal Investigation and Detection Group (CIDG) 7 in Cebu City, grumbling that Organico Agribusiness Ventures Corp. failed to return their investments in September 2019.

Myra (not her real name) said she will file a complaint against Organico, and she is preparing her evidence to prove that she had put her money in the firm.

The 39-year-old medical worker said she invested more than P100,000 in Organico. The other members of her family had brought P600,000 worth of hogs before they earned more than P1 million.

Filing an estafa complaint before the Cebu City Prosecutor’s Office against Organico is the only option for Myra and her family to take so they could take back their hard-earned money.

“We had put up an investment, and then we ended up being scammed,” Myra said in a mix of Cebuano and English.

After the Securities and Exchange Commission stopped Organico’s operations last May, Organico personnel reportedly continued communicating with the investors, promising to return their investments.

Myra was told that her money was invested in other ventures so it could grow. However, Myra she already suspected that Organico has no plan of returning its investors’ money.

CIDG 7 Deputy Chief P/Maj. Rolland Allan Tolosa said their office will help in filing the complaints against Organico.

He expects more Organico investors would flock to the CIDG 7 office in the coming days. (AYB / KAL)


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