NBI, CIDG raid pyramiding firms in Visayas, Mindanao

Offices of other pyramiding firms in Visayas and Mindanao were raided by operatives from the National Bureau of Investigation (NBI) and the Philippine National Police-Criminal Investigation and Detection Group (CIDG).

According to a report by Sandra Aguinaldo in GMA's 24 Oras on Tuesday, the office of Alabel-Maasim Credit Cooperative (ALAMCCO) in Saranggani was teeming with members who were claiming payouts and applicants who were attending a recruitment seminar.

The NBI personnel inspected the compound pursuant to the order of President Rodrigo Duterte to launch a crackdown against questionable investment schemes.

The president of ALAMCCO, on the other hand, said that they do not scam their members.

"Nagfi-finance din kami lalo na ang coop sa mga business na malaki ang kitaan na minimum of 40% ang kitaan po. Sa ALAMCCO po, hindi kami ponzi scheme, ito ay business, visible business po. Dahil dito maraming tao na natutulungan," said Pastor Jerson Cagang, president of the cooperative.

Many members also flocked to ALAMCCO's office in Koronadal City to invest and claim their payouts.

Investors of the cooperative said they are confident that it would not be shut down because it is compliant with the required documents for operation.

Meanwhile, the office of the Organico Agri-Business Ventures Corp. in Tagbilaran City, Bohol was raided by authorities from the Security and Exchange Commission and CIDG.

Only a vault and some chairs were found inside the place. The vault was cut open but it was empty.

Another branch of Organico in Tacloban City was inspected. The office was also clear of belongings.

The SEC said it already issued an advisory against Organico in 2018 and it is not authorized to offer and collect investments.

GMA News is trying to get the comment of Organico.

The crackdown against investment scams intensified after Duterte ordered the authorities to shut down Kapa Community Ministry International Inc. for its "too good to be true" pyramiding scheme.

The legal camp of Kapa, on the other hand, said that businesses, where "donations" to the religious organization go, are legitimate. — Dona Magsino/BAP, GMA News