SEC-10: FTC may face syn­di­cated estafa

More in­vestors have come for­ward to file com­plaint against FTC

Sun.Star Cagayan de Oro - - Front Page - By Al­wen Salir­ing

An of­fi­cial of the Se­cu­ri­ties and Ex­change Com­mis­sion-North­ern Min­danao (SEC-10), on Mon­day, Oc­to­ber 26, said more in­vestors have al­ready come for­ward to press com­plaint against the Free­dom Traders Club (FTC) and its con­tro­ver­sial Plou­tus Coin in­vest­ment scheme.

SEC-North­ern Min­danao direc­tor Re­nato Egypto said they are closely co­or­di­nat­ing with the Na­tional Bureau of In­ves­ti­ga­tion-North­ern Min­danao (NBI-10) re­gard­ing the com­plaints against FTC founder Mark

Egypto said the com­plaints have been dis­trib­uted to the dif­fer­ent NBI-10 in­ves­ti­ga­tors and agents.

“Sa akong nahibal-an ubayubay na ang com­plaints nga naa sa NBI,”Egytpo said.

Egypto said the peo­ple be­hind Ploutos Coins may be slapped with estafa charges once the cases are el­e­vated in courts.

He also ex­plained that the case may es­ca­late into a syn­di­cated estafa once the num­ber of com­plainants will reach at least five.

“De­pende if it war­rants ac­cord­ing sa sur­round­ing cir­cum­stances and ev­i­dences kung ma-fall sa syn­di­cated estafa kay it in­volved at least five com­plainants pataas,”Egypto said.

Egytpo said he has learned that more in­vestors, not only in Ca­gayan de Oro City, have wanted to file for­mal com­plaint against FTC af­ter its founder failed to make good of his promised pay­outs last Septem­ber in­clud­ing those who wanted to pull out their in­vest­ments.

“Kato kay wala na­tu­man usa ka na ka el­e­ment sa estafa nga he was not able to make good sa iyang prom­ise,”he added.

On the other hand, Egypto said they are await­ing the head of­fice’s is­suance of the Cease and De­sist Order (CDO) against FTC and Plou­tus Coins.

He said the SEC-North­ern Min­danao has re­quested for the CDO is­suance late Septem­ber.

“Ang in­gon sa head of­fice ila pang gi-eval­u­ate,”he said.

(PJ ORIAS)

City hall em­ploy­ees bring their own ecobags sig­ni­fy­ing their com­mit­ment to the city's cam­paign-"Yes to Eco bag, No to Plas­tic bag" yesterday, Oc­to­ber 29, 2018.

(SUNSTAR FILE PHOTO)

FTC founder Mark Free­man.

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.