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Davao City, Philippines

Mayor Sara stands firm vs investment schemes

June 13, 2019 - Thursday 11:06 AM by Ayan Mellejor

Article Banner Image STRICT. Mayor Sara Duterte, seen here arriving at City Hall grounds for the 121st anniversary of Philippine Independence on June 12, will only allow investment schemes to operate if the companies have the necessary permits. ARJOY M. CENIZA

DAVAO CITY -- Mayor Sara Duterte is firm against investment schemes unless the companies operating them possess legal documents to engage in such financial activities.

Mayor Sara said she has been reminding Davaoeños against shelling out their hard-earned money and pouring it into financial schemes that promise high returns.

"I have not prohibited them from investing. That is their money. But I reminded Davaoeños to be careful," the mayor said in ambush interview on Tuesday at The Tent of Azuela in Lanang, this city.

But she said while individuals are not prohibited from investing, she will continue to disallow groups or companies from engaging in investment activities unless they secure permits from the proper government agencies.

"Get a permit first from regulatory offices," the mayor said.

Asked if she would allow rallies to be held by groups affected by the series of government raids, Sara said she has never stopped people from expressing their sentiments.

"If they have a permit, no problem," she said.

The city government allows people to hold rallies without permit at Freedom Park. For other places in the city, groups need to secure a permit for the purpose of maintaining order in the streets.

The past days have seen people pouring out their outrage on the Dutertes following raids on the offices of various companies operating investment schemes in Davao Region.

Kapa Community Ministry International in Tagum City, Davao del Norte and Davao del Sur as well as on Organico Agribusiness Venture Corporation along Bolton Street, this city.

The Criminal Investigation and Detection Group (CIDG), Philippine National Police (PNP), and the National Bureau of Investigation (NBI) swooped down on the offices of  Kapa Community Ministry International, Rigen Marketing, Organico Agribusiness Venture Corporation, and others after President Rodrigo Duterte on Friday last week ordered government agencies to shut down all investment firms.

The President said he has been telling people that when it is “too good to be true, it is fraud.”

“Imagine, your P100,000 earns P30,000 a month? Even our Bangko Sentral can only give 3 percent, and that's annually. I have been telling the Filipino people that if what is being promised to you is something like heaven it's fraud,” he said.