DTI probes operations of ‘bogus’ investment firm in GenSan

Dorecita Delima, DTI Region 12 assistant director, said theyinitially uncovered that unregistered investment firm Global Amerikahas attracted some investments from several residents here.

"After we issued an advisory regarding the illegal activities ofFrancSwiss, our office has received a lot of inquiries and informationabout Global Amerika's business operations here," she said.

Delima, the supervising head of the DTI here, said several informantsrevealed that a number of persons representing Global Amerika"were stationed in the commercial departments, specifically in GaisanoDadiangas Mall and KCC Mall of Gensan".

"A number of persons here have invested their hard earned money with Global Amerika, hoping for a huge amount of commission or profitin return," she said.

Delima said that through the help of their informants, they were ableto meet with one of the investors of Global Amerika here in the city.

As it turned out, she said Global Amerika's representatives do nothave any business office in the city and that they operate byapproaching their prospective investors.

Ibrahim Guiamadel, DTI Region 12 director, said he has ordered theclose monitoring of such similar illegal operations of investmentfirms in the city and other parts of Region 12 or SouthwesternMindanao.

Region 12 covers the provinces of South Cotabato, Sultan Kudarat,Sarangani, Cotabato and the cities of General Santos, Koronadal,Kidapawan, Tacurong and Cotabato.

Guiamadel said there is a big possibility that Global Amerika hasvictimized people in other parts of the region.

"We will continue to conduct queries, information and referralsthrough investigations, phone calls and emails relative to Francswissand other unregistered entities with similar operations here in Region12," he said.

The Securities and Exchange Commission and the DTI's Bureau of TradeRegulation and Consumer Protection (BTRCP) earlier issued advisorieson the illegal operations of FrancSwiss, Global Amerika and otherunregistered entities engaging in business or investment schemes thatare based on the illegal pyramiding system.

The National Bureau of Investigation is currently investigating theillegal operations of FrancSwiss, whose web-based operation has sincedisappeared along with the supposed investments of their localclients. (Allen V. Estabillo / MindaNews)

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