Victim of scam surfaces

The National Bureau of Investigation (NBI)’s investigation into the operations of an alleged bogus foreign exchange trading firm was boosted yesterday after one the victims, who lost $20,000, filed a complaint.

The complainant’s father, who requested anonymity, said they asked the NBI to locate the whereabouts of Singaporean Michael Liew, the alleged owner of the Performance Investment Products Corp. (PIPC), and others who may be responsible for the reported investment scam.

NBI Interpol Division Executive Officer Dominador Villanueva said a check with the Bureau of Immigration (BI) showed that Liew left the country on June 20 and there are no records of his return.

The complainant, a resident of Dasmariñas Village in Makati, was introduced to the PIPC general manager (GM) by Cristina Gonzalez-Tuazon.

“The investors were promised a 15 percent return of investment (ROI) annually which is more than the prevailing bank rate. Another come on was the claim that it is a solid company, represented by rich people and relatives of a PIPC official,” he said.

Although the minimum allowed investment is $40,000, the complainant only shelled out $20,000.

But the complainant was not able to recover her investment because interest payment stopped this month.

Probers said most of victims of the investment scam came from wealthy families residing in posh subdivisions such as Dasmariñas Village and Forbes Park.

The NBI said the refusal of victims to come out and file charges against the suspects has hampered the resolution of the case.       – Evelyn Macairan, Edu Punay