Panelo warns of investment scam
MANILA, Philippines — Chief Presidential Legal Counsel Salvador Panelo yesterday warned the public against what he described as a scam using his name to persuade investors to invest in a company.
“I have just been informed that a certain entity called Masa Mart is using my name and claiming that I am its lawyer. I understand that due to this misrepresentation, a lot of people are enticed to invest in the said company,” Panelo said in a statement.
“This is another scam. To dispel and eliminate all doubts, I categorically deny any affiliation with Masa Mart. I cannot be its lawyer as I do not even know anybody from it,” he added.
Panelo said as chief presidential legal counsel, he cannot practice law other than providing advice to the President on matters requiring his action and performing functions that may be directed by him.
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