Cops warned vs. pyramid schemes

CEBU, Philippines — The Police Regional Office in Central Visayas (PRO-7) has advised its men to be cautious of investment companies, this after an increase in the cases of pyramid schemes victimizing policemen in Mindanao.

Police Brigadier General Debold Sinas, the director of PRO-7, said that two groups involved in a scam using the pyramid scheme are being monitored in some parts of Cebu, specifically in Compostela.

Sinas said that the orders came from the office of the Philippine National Police national headquarters in Camp Crame. He said the PNP Director, Police General Oscar Albayalde, issued a memorandum warning policemen against pyramid scams that promise easy money.

Albayalde also mentioned that if the pyramid scam falls out, the tendency is that the policeman will turn to illegal activities to sustain his lifestyle or recoup his losses.

“Namatikdan namo nga na-entice na ang mga police, gi-warning-an nako ang mga police nga scam. It’s a scam, imagine, saan ka makakita nga investment nga motubo og P50,000 to P100,000 in just one month,” he said.

Based on latest reports from mindanaonews.com, the latest companies said to be into this scheme are based in General Santos City, identified as Alamco/Almamico Mining and the Kapa Community Ministry.

The report stated that these companies lured its victims by selling memberships and promising 30% to 35% monthly payout.

“Warning nako lalo na ang mga polis naa na diri, ang Alamco/Almamico ug Kapa mga scam gikan og Mindanao,” Sinas said.

Sinas said that a number of police officers, and teachers have already been victimized by the pyramid scam in Pagadian City, Zamboanga del Sur. — BRP (FREEMAN)