Roxas: Jail ponzi scamers

Wednesday, September 12, 2007 | posted in , , | 0 comments

Sen. Mar Roxas said the Senate Committee on Trade will conduct an inquiry today on the reported $250-million worth of investments in PIPC Corp. that has gone down the drain, victimizing Filipinos.

The victims were supposedly enticed to invest at least P1.8 million on the promised earnings of 12 percentat least P200,000a year. Who would not be allured by this guaranteed windfall? he said in a press release.

Roxas called for strict government action so scam perpetrators can be sent to jail.

The committee, which Roxas chairs, will be tackling two Senate resolutions on the matter filed by Senators Juan Ponce Enrile and Loren Legarda. The Senate Committee on Banks will also be part of the inquiry.


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Kevin Ray N. Chua

Kevin Ray N. Chua is a 19 year-old blogger from Cebu City, Philippines and an IT Student at Cebu Institute of Technology.

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