Aglipay nixes link with credit, collection firm

Metro Manila police chief Deputy Director General Edgar Aglipay categorically denied reports yesterday that he’s one of the incorporators of the Glasgow Credit and Collection Services, Inc., a corporation where the police and military are allegedly investing earnings derived from "jueteng", illegal drugs and kidnap-for-ransom activities.

"I vehemently deny that I have investment in Glasgow Credit and Collection Services, Inc.," said Aglipay in a statement.

Aglipay issued the statement after a morning daily reported that he’s one of the incorporators of the investment company which now appears to be a pyramiding scheme racket.

Aglipay pointed out that it was he who initiated an investigation of the operations of the said company after reports reaching him showed that his name was being floated as one of its investors apparently to lure other prospective investors to pour their money into the said investment.

"It was also the undersigned who reported the shady and questionable transactions of Glasgow with the Securities and Exchange Commission (SEC)," said Aglipay. He said the report submitted by the National Capital Regional Police Office (NCRPO) has become the basis of the Central Bank’s "freeze order" against the said company. He did not elaborate.

Reports claimed that at least 5,000 police and military personnel were affected by the CBs "freeze order."

The same reports claimed that the investment money coming from police and military personnel are in part their cut in the ransom paid out to kidnappers by the victims’ relatives, which amounts to millions. Others came from "jueteng" and from the sale of illegal drugs. — Non Alquitran