THE Davao City Anti Scam Unit is urging the public to exercise extreme caution against fraudulent investment schemes, highlighting a growing trend of scam operations involving local restaurant ventures.
The office has recorded 55 complaints about money investment scams across the city this year, Anti Scam Unit head Jacy Jay Francia revealed in a media forum on Thursday at the Davao City Hall.
Francia explained that fraudsters typically entice victims to invest in restaurant businesses by promising lucrative returns.
"Ang modus, mag-engganyo og mga investors sa usa ka restaurant tapos mag-promise og 10% pataas nga return of investment, apan walay nadawat nga income (The modus is to entice investors into a restaurant and promise a return on investment of 10% or higher, but no income is actually received)," Francia said.
Four of the recent complaints involve restaurant operators, while one involves a gadget store. Although two restaurant owners previously met with victims and reached settlement agreements, they ultimately failed to fulfill the promised terms.
As a result, the Anti-Scam Unit has referred these cases to law enforcement agencies for further legal action.
"Naay duha ka tag-iya nga miatubang sa mga complainants ug nagkasinabot, apan wala gihapon matuman ang nasabutan, maong gina-endorse na nato ang kaso sa NBI ug CIDG (Two owners met with the complainants and reached an agreement, but what was agreed upon was still not fulfilled, which is why we are now endorsing the case to the NBI and CIDG)," Francia added.
Beyond restaurant ventures, reported cases handled by the unit include unauthorized "raw-lot" real estate developments, deceptive online marketing, a gadget investment scheme, and a travel agency scam that defrauded 18 senior citizens of over P1 million.
Francia emphasized that registered business permits from the Business Bureau, Department of Trade and Industry (DTI), or Securities and Exchange Commission (SEC) do not automatically grant an establishment the legal authority to solicit investment capital from the public. Doing so requires a secondary license or explicit authorization from the SEC.
He urged prospective investors to verify the legitimacy of investment offers before committing their money.
"Ang atong pahimangno sa katawhan, ayaw dayon mo og basta-basta og invest aron malikay sa scam. Bisitahi ang atong opisina sa Anti-Scam Unit sa Magsaysay Park para ma-verify ang legitimacy sa maong mga kumpanya (Our warning to the public is not to invest recklessly so you can avoid scams. Visit our Anti-Scam Unit office at Magsaysay Park to verify the legitimacy of these companies)," Francia advised. GRS
