Investment here, investment there! But before you invest, make sure you know the risk! It is so tempting to invest in financial companies that promise high returns of your hard-earned money just in few days or months!
But in Davao del Norte where investment schemes that spring out like mushrooms, 14 financial investment schemes have been shut down by authorities just recently. According to a report published in SunStar Davao the interagency task force of Police Regional Office (PRO) — 11 has started to crack down on alleged fraudulent financial investments to protect the public.
These investment schemes are mostly found in Tagum City, but also present in a different part of Mindanao and the rest of the country. They promise a huge return of investment in just a short period of time.
Just days after it was created, 14 operators of these investment schemes have already been closed by the task force. But it said that companies behind these schemes can resume the operation once they comply with the government’s requirements.
Lack of requirements is the main reason why these companies are shut down but authorities. The 14 investment schemes were not named since the investigation and operation against the others are still ongoing.
Based on the data of PRO-12, there are 53 financial companies in Davao del Sur that involve in investment schemes. PRO-12 also vowed that there will be more money investment schemes which will close down as they are stepping up its operation in the next few days not just in Tagum City in Davao del Norte but also in Davao del Sur.
According to Brig. Gen. Marcelo Morales, director of PRO-11 that aside from the 14 that was shut down, they are also investigating 39 more to ensure that these financial companies comply with the government regulations and to prevent them from turning into an investment scam.