Gokongwei Group warns anew vs crypto scams

MANILA, Philippines —  The Gokongwei Group has warned the public anew against a cryptocurrency scam using the name of tycoon Lance Gokongwei to entice investments.

In a new advisory, the group said that well-known enterprises and personalities, including JG Summit Holdings president and CEO Lance Gokongwei, are being used to encourage the public to invest in cryptocurrency projects such as “Atom Capital” and “Momentum Capital” programs.

“This is to inform the public that Mr. Gokongwei, the Gokongwei Group, its subsidiaries and representatives are in no way involved in these projects,” it said.

The group said appropriate measures are being taken to mitigate the proliferation of these false advertisements.

It urged the public to be vigilant against these fraudulent activities.

“We strongly urge everyone not to engage with suspicious platforms and to properly scrutinize web pages and links at all times,” the group said.

Last month, the Gokongwei Group already alerted the public against false advertisements, including the cryptocurrency project called “Momentum Capital” program.

JG Summit is one of the largest and most diversified conglomerates in the country.

It is engaged in businesses like snack-food and beverage through Universal Robina Corp., air transportation through Cebu Pacific, property development through Robinsons Land Corp. and petrochemical manufacturing through JG Summit Olefins Corp., among others.