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Remulla orders probe of investment scam

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JUSTICE Secretary Jesus Crispin Remulla has ordered an investigation of the alleged fraudulent investment practice of Maria Francesca Tan (MFT) Group of Companies Inc. and Foundry Ventures I Inc.

JUSTICE Secretary Jesus Crispin Remulla has ordered an investigation of the alleged fraudulent investment practice of Maria Francesca Tan Group of Companies Inc. and Foundry Ventures I Inc.Initial inquiry by the Securities and Exchange Commission revealed that the two companies issued investors either a promissory note or borrower-lender agreement as proof of their investment.

MFT allegedly offered 12 to 18 percent returns to investors through the issuance of postdated checks reflecting a 1- to 1.5-percent monthly interest. Justice Secretary Jesus Crispin Remulla 'Meticulously uncover every detail surrounding this case, look closely into every angle and if necessary, charge everyone who is proven to have defrauded our precious Filipino investors,' Remulla said.

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