NBI files estafa case vs 39 in alleged investment scam

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 86%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The NBI filed before the DOJ a multimillion-peso syndicated estafa case against 39 officials and individuals linked to a company that allegedly defrauded more than 1,000 investors in an investment scam. | T2TupasINQ

A case of syndicated estafa and violation of the Securities Regulation Code has been filed against 39 officials and members of Alabel-Maasim Credit Cooperative , which is also referred to as Alabel-Maasim Mining Company and Alabel-Maasim Small Scale Mining Cooperative .ALAMCCO was founded by Jerson Cagang, who is its chairman. Cagang, who is said to be a pastor, and is married to Fe, who is also one of the directors and among the respondents in the complaint.

Bobby said he had a personal investment of P1,240,000, while his 415 subordinates had allegedly made investments worth over P40-million to ALMAMICO/ALAMCCO. Based on the complaint, over 1,000 of those who invested from December last year until June this year were government officials and employees, including those in the military, the police, local government units, and the courts.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kapa-like investment group in Mindanao faces syndicated estafa complaintThe National Bureau of Investigation files a syndicated estafa complaint – a non-bailable offense – against 39 individuals associated with the ALAMCCO credit cooperative.
Source: rapplerdotcom - 🏆 4. / 86 Read more »