Flex Fuel denies involvement in investment scam, willing to work with authorities

Officials of Flex Fuel Petroleum Corp. have again denied any involvement in alleged investment scams, as they expressed willingness to work with authorities to address any concerns.

According to a report on Unang Balita Tuesday, officials of the firm and its legal counsel maintained that they have the necessary documents to disprove any connection to investment scams.

Meanwhile, the legal counsel of actor and television host Luis Manzano, reported former chairperson of Flex Fuel, said the latter will face authorities in another time.

For their part, investors who filed large-scale estafa complaint against the respondents questioned why they were pushing for a settlement if they were not involved in an investment scam.

GMA Integrated News is still trying to reach out to officials and the legal counsel of Flex Fuel for response.

Some 30 of the investors earlier this month filed large-scale estafa complaint against Flex Fuel Petroleum Corp., naming Manzano, company president Ildefonso Medal, and consultant Roy Randa as respondents.

One of the investors said he took out a loan to invest in Flex Fuel, but the firm was not able to put up any gasoline station from the investment after six months.

“There is absolutely no truth to the claim that Flex Fuel is involved in any form of scam or fraud against our stakeholders,” the company said in an earlier statement.

“In fact, all of our transactions, especially with out stakeholders, are transparent, fair, and legal… Flex Fuel has never guaranteed any profit to its partners and has always made it clear to them that, like any other legitimate business venture, these profits depend on business performance,” it added.

The National Bureau of Investigation (NBI) has since issued a subpoena against Manzano over his supposed involvement in the investment mess.—Jon Viktor Cabuenas/AOL, GMA Integrated News