14 investment schemes shut down

THE Police Regional Office in Davao led the creation of an inter-agency task force last May 31 to crack down on alleged fraudulent financial investment schemes to protect the public.

However, the companies behind these schemes can resume operations once they fully comply with the government's requirements. However, SEC 11 and the authorities vowed that they will continue their crackdown and investigation against these investment schemes to assure that no one will be victimized by them.

Together with the press, PRO 11 Director Marcelo Morales led in visiting the GP Load Cards and Wellness Products Marketing , located in Doctolero Avenue in Tagum City. The visit yields various businesses and products without proper receipt nor Provisional Authority from the Bureau of Internal Revenue but they have DTI registration and Business Permit issued by the Tagum City government.

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PEZA investment pledges down 24.54%Investment pledges registered with the Philippine Economic Zone Authority (PEZA) dwindled, posting a negative 24.54 percent growth in the first four months as the pending Tax Reform for Attracting Better and High-Quality Opportunities (TRABAHO) Bill continued to spook foreign investors.
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