NBI names prominent FrancSwiss investors

The National Bureau of Investigation said yesterday that celebrities Claudine Barretto and Raymart Santiago, former Isabela governor Benjamin Dy, and broadcast journalist Korina Sanchez were named as investors in the international pyramiding syndicate FrancSwiss Investment.

Senior Agent 4 Manny Fayre said FrancSwiss chief financial adviser Eleazard Castillo named these prominent figures in his testimony after he was arrested last July 4 in Baguio City.

Fayre clarified that they have yet to verify the information provided by Castillo, since their names may have been dropped to attract prospective investors.

The NBI also has to confirm the participation of Dy’s brother, Victor, and former Pop Cola basketball player Bonel Balingit in the pyramiding scheme.

“Korina Sanchez was allegedly recruited by a certain Jay Heredia, who was a downline of Castillo. It was reported that her investment amounted to P15 million, but this has not yet been verified. She was reportedly among those who was recruited during the early stages of FrancSwiss’ operations in the country,” said Fayre.

Sanchez, however, categorically denied making any investment in FrancSwiss.

“My name is being used by scam artists to attract more investors. I am currently out of the country, but I am ready to face my accusers and answer all allegations when I return to Manila,” she said in a statement.

Castillo told the NBI that Barretto and Santiago would even arrange family meetings in their house and invite FrancSwiss financial officers.

Fayre said they are now in the process of completing the list of FrancSwiss investors to determine who were duped and who should be held accountable for the crime. So far, they have come up with 100 names.

NBI director Nestor Mantaring gave the NBI-National Capital Region until this Friday to file charges of large-scale syndicated estafa against the still-unidentified respondents.

The Securities and Exchange Commission (SEC) said FrancSwiss is not registered with their agency.

The alleged pyramiding syndicate has reportedly collected close to P1 billion from investors since it began operating in the country three months ago.

Meanwhile, the SEC said it has looking into the activities of Deutschefrancs and SMFund for allegedly engaging in Internet quick-money schemes.

The SEC said it has already issued an advisory against FrancSwiss, Swiss Cash, Universal Forex System, Global America and Private Forex Trade Inc. because these firms are not registered with the commission and are not authorized to solicit investments from the public. – With Zinnia dela Peña