THE victims of an alleged illegal investment scam in Koronadal City in South Cotabato have lodged syndicated fraud charges against the operators of Mers Business Center in Region 12, according to the National Bureau of Investigation (NBI) Regional Office.

NBI Regional Director Riegner Peñeza said there were 100 individuals headed by a certain Pergentino Logronio, who claimed to be victims of an investment scam and have filed estafa charges against the operators of Mers.

According to the charges filed before the NBI, Mers promised a 30 to 35 percent return on investment within a week.

Peñeza said Mers was able to make an initial payout with the interest. However, after several months, the victims did not receive any additional payouts for their investments amounting to P600 million.

The complainants accused the officials of Mers of failing to disburse the promised weekly payouts including their principal investment. The victims sought to recover their investments from the operators.

Charged before the office of the NBI Region 12 with syndicated estafa were Reynaldo Camingawan, founder Mers, and his brother Roger Camingawan, Estelito Cenco, Arlindo Mahinay and Joy Mahinay, who served as the board directors of the said pyramiding business investment scheme.

The victims urged other victims to come out and file charges. Peñeza said that the victims were lured by the “double your money within a week” investment scheme, which…

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