New investment scams on the rise – NBI

Despite recent exposes on investment scams, an official of the National Bureau of Investigation (NBI) said yesterday they have received reports that new syndicates offering money-making schemes through the Internet have reportedly began sprouting in the country.

NBI-National Capital Region director Ruel Lasala said the new online investment scams are reportedly operated by members of earlier investment scams whose operations have been shut down.

“But unlike other alleged online investment scams, the new syndicates impose a lower minimum investment amount of $100,” Lasala said.

The NBI said these new players now give products such as cell cards to people who invest a minimum of $100 (P45,000).

These investment websites also promise a daily profit of two or three percent, which Lasala said was “too high” and had an “unreasonable interest rate.”

He also appealed to the National Telecommunications Company (NTC) to block the websites of these syndicates to prevent them from duping unsuspecting prospective traders.

The NBI recently filed syndicated estafa charges before the Department of Justice against owners, incorporators and employees of two alleged investment firms: the Performance Investment Products Corporation (PIPC) that is reportedly using another company name called PIPC Corp., and the Internet-based FrancSwiss Investment.

PIPC offered one to two percent monthly earnings while FrancSwiss promised  a daily interest rate of 4.5 percent and an additional 10 percent commission called “e-points” for every person an investor recruits.     – Evelyn Macairan