Mining company in Bukidnon raided; 5 employees arrested
Credit to Author: Tempo Desk| Date: Fri, 26 Jul 2019 09:00:36 +0000
The Philippine National Police-Criminal Investigation and Detection Group raided a mining company allegedly involved in an investment scam the other day in Bukidnon.
The PNP-CIDG arrested five employees of JA Mining Ventures – Emeliana Fernandez, 39; Ernie Oliquino, 37; John Lister Pacunayen, 26; Ojelyn Busbos, 22; and Merlyn Perez, 30 – during the raid.
The PNP-CIDG received confidential information that the company is operating like other companies which were raided by the PNP for alleged involvement in investment scams.
Police conducted case build-up which confirmed the information and secured search warrants.
The PNP-CIDG Northern Mindanao (Region 10) conducted simultaneous raids at the offices of JA Mining Ventures in Malaybalay City, Valencia City, and Maramag at 2 p.m.
According to the police, the mining firm offers a 50 to 100 percent return of investments after one month to encourage their prospects.
“The search warrants were applied after days of case build-up which stemmed from a confidential informant that the firm is operating similarly to other investment scam firms that were raided by the PNP,” said Police Lt. Col. Grace Madayag, PNP-CIDG spokesperson.
“This is another pro-active and intelligence-driven police operations of the CIDG amid a nationwide crackdown on firms involved in fraudulent investments,” she added.
Seized from the suspects were P612,903. Also seized from the suspects were 552 blank Certificate of Investment forms, 800 acknowledgement receipts from the investors, a laptop, a desktop computer, various cellphones, three printers, a bill counter machine, a black box for closed circuit television camera and a CCTV monitor, and voluminous documents and paraphernalia.
The suspects were taken to the PNP-CIDG provincial field unit in Bukidnon for proper disposition.
Cases for violation of Sections 8 (Requirements of Registration Securities) and 12 (Procedure of Registration Securities) in relation to Section 73 (Penalties) of the Republic Act 8799 or the Securities Regulation Code were prepared against the suspects.
How much money the JA Mining Ventures have made from alleged investment schemes was not revealed. (Martin A. Sadongdong)