The reminder came after they raided a company located at the MTC Shang Bldg. at ML Quezon Highway in Barangay Pajo, Lapu-Lapu City on Wednesday afternoon, May 25, for allegedly conducting a pyramiding scheme.
Moreover, Joil Dela Cerna Ocay, the company’s president has no license or registration to act as a capital market professional such as broker, dealer, and investment solicitor. He said that the target of the company were Overseas Filipino Workers as it also allegedly provided an app that investors could monitor their investments.Gierran said there were investors who had visited their office telling them that they had allegedly invested P1 million, P2 million, and thousands of pesos.
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