NEWS

• Investors Speak Out: The Quest for Justice in a Case of Alleged Investment Scam
• Actor Luis Manzano Caught Up in Gas Station Investment Sc@nd$l
• Flex Fuel Petroleum Corp.: The Company at the Center of Fraud Allegations

Manila, Philippines – Luis Manzano, a Philippine actor, has been issued a subpoena by the National Bureau of Investigation (NBI) in connection with an alleged gas station investment scam. The NBI’s Criminal Intelligence Division is investigating the case after investors of Flex Fuel Petroleum Corp. claimed that Manzano and the company are involved in a fraudulent investment scheme.

15 overseas Filipino workers and 40 people in the Philippines have filed complaints against the company. The management of Flex Fuel has denied the allegations, but admits that the business was affected by the COVID-19 pandemic and other factors. Manzano has stated that he is not part of Flex Fuel and is also a victim in the case. The NBI continues to investigate the matter and take statements from the complainants.

Meanwhile, some investors are willing to drop the case if the company return their investment funds in full amount. Luis Manzano, on the other hand, also reiterated that he is also a victim of the company which owes him P66 million.

Brief History Of Investment Scams

The history of investment scams dates back to the early days of commerce and finance. Ponzi schemes, which are one of the oldest forms of investment scams, were first identified in the early 20th century and named after Charles Ponzi, who became notorious for using the scheme to defraud thousands of investors. Since then, investment scams have continued to evolve and become more sophisticated.

With the advent of the internet and the growth of e-commerce, investment scams have become even more widespread. The anonymity and reach of the internet have made it easier for scammers to target a larger number of victims and carry out their schemes more effectively. In recent years, investment scams have taken various forms, such as fake online trading platforms, fake cryptocurrency exchanges, and fake ICOs.

Despite the efforts of regulators and law enforcement agencies, investment scams continue to be a major problem, and new scams are constantly emerging. It is important for individuals to educate themselves about the different forms of investment scams and to be vigilant when considering any investment opportunities. It is also important to seek professional advice and to thoroughly research any investment before making a decision.