Business firm, hospital warn public against investment scams in Tagum

TAGUM CITY (MindaNews / 10 May) – A local marketing giant and a private hospital here have distanced themselves from companies aggressively luring investors with a promise of bigger earnings and warned that they do not own or manage any of the money trading businesses operating in this city.

The LYR Group of Companies – which has businesses in appliances, motorcycles, furniture, gasoline, printing, among others – issued a statement Thursday, saying that the firm “does not own or manage any market trading investment business or any type related to this kind of business.”

This comes after it received a deluge of inquiries from would-be investors if the LYR Group is engaged in money trading.

“A lot of inquiries has been asked towards us and many names pop out. The most common is ‘P7 Marketing’ and some other names. We are warning you! These are scams!!! The moment these companies use the name of the LYR Group of Companies, consider them as scammers,” the company warned.

LYR has several branches operating in the cities of Tagum, Davao, Digos, Cagayan de Oro and elsewhere in Southern Mindanao.

The business firm also appealed to the owner of P7 Marketing to settle the issue with them the soonest possible time.

P7 Marketing is a company involved in foreign exchange trading that lures investors with a promise of big earnings.

“We are now calling the attention of the owner or people behind this company to contact us in any means possible to resolve this squabble. We are not against other businesses. But we are definitely against name-grabbing and name-using. This needs to stop,” LYR Group stressed.

P7 Marketing apparently has a Facebook page under the name Perfect Save’n Marketing followed by 1,892 people as of Friday evening. Its office, said one of its post, “is located at corner Osmeña St. and National Highway second floor above American Surplus fronting Emcor” in Tagum City.

Its earliest posts were dawn of April 25 as it updated its profile and cover pictures.

Shortly after, it posted a promo dubbed “X6 your money with a twist.”

It cited as an example that if one invests P50,000 in P7, he will receive 300% of his money, or P150,000, in “more or less 30 days.” The other 300% will be reinvested in P7 with a lock-in period of six months.

“The company will pay you an interest of 30% monthly for your remaining investment,” P7 said.

“P45,000 monthly up to five months then when your contract ends in six months the company will give you the remaining 300% (P150,000),” P7 claimed. “Within six months you gain P525,000,” it added.

MindaNews was able to talk to an agent of P7 Marketing but requested not to be identified.

A public school teacher, the agent said that P7 Marketing is one of the investment companies in Tagum City that offers easy cash to would-be investors.

He insists the company is affiliated with LYR Marketing even though the latter denied ties with P7 Marketing.

The agent said P7 was launched in Tagum last May 7 at Penny Lane Hotel and Casino.

To entice investors, P7 Marketing assures their investors that their money will be earning a huge interest for a month since the company is engaged in money trading, the agent said.

Meanwhile, the Aquino Medical Specialists Hospital Inc. (AMSHI) also issued similar warning, noting that the hospital has not been part of these investment companies mushrooming in Tagum.

“The board and management of the Aquino Medical Specialists Hospital Inc. (AMSHI) hereby inform its stakeholders and the general public that we are in no way connected to, an affiliate with or a member of any company or corporation in Tagum City and elsewhere engaged in pay-in and pay-out investment schemes,” the hospital wrote in a Facebook post Tuesday afternoon.

The hospital, however, did not specifically identify the investment company where it is rumored to be associated with. (Mart Sambalud / MindaNews)