Mayor Vico tells operator of 'paluwagan scam' to face investors

Pasig Mayor Vico Sotto has asked the owner and operator of the alleged "paluwagan scam" based in his city to come out and face the investors seeking the return of their money.

"Sana sabihin n'ya na lang 'yung totoo dahil dun sa pinakahuling post nila nung January 3, wala pa ring pag-amin na illegal yung kanilang negosyo," Sotto said on a "24 Oras" report by Raffy Tima.

The city government as well as the victims of the BNY PAL & Trading Benta Paluwagan have sought the help of the National Bureau of Investigation (NBI) for the filing of complaints.

NBI lawyer Joel Tuvera said, "Maybe give us two weeks, we will be able to file a case pero dun sa mga nagsampa lang muna ng kanilang reklamo at continuous ang ating imbestigasyon."

"Dennis," a sales associate, said he thought the venture was legitimate as it had the necessary papers.

"Naisip po namin na legit 'yung mga papers na hinahawakan nya dahil 'yung mga nasa posisyon nagtitiwala po, ano pa kaya kami na mga negosyante lang," he said.

"Tingnan natin kung hanggang saan 'yng involvement nila, kung prinomote ba ito, lalabas naman 'yan sa imbestigasyon.  Pero sa ngayon, siguro mag-aagree naman ang NBI, baka too early to say," Sotto added.

The Securities and Exchange Commission earlier warned the public against investing in the company as it is not registered and does not have a license to collect money.

An "investor" recounted that multi-million investments were poured in the company because of the promise of huge returns.

The owner of the company talked with the investors on December 14 and promised to pay them.  

GMA Integrated News has sent a message to the social media account of the company owners to get their side, but has yet to get a response as of posting time. —LDF, GMA Integrated News