TACLOBAN CITY – The Securities and Exchange Commission (SEC) in Eastern Visayas is urging the public to stay vigilant against suspicious investment schemes following reports of an alleged scam in Can-avid, Eastern Samar.
SEC-8 Regional Director Atty. Desiree Cuenco said over 100 individuals, possibly more, were duped by a 52-year-old student of Eastern Samar State University (ESSU) who allegedly promised high returns without any legitimate product or service.
“So far, no formal complaints have been filed with our office, but reports on social media and information from police suggest the suspect may have collected around P11 million,” Cuenco said.
She reminded the public to verify if companies offering investments are registered and licensed by checking the SEC’s online portal: https://checkwithsec.sec.gov.ph.
Cuenco added the agency will intensify grassroots education and information campaigns, especially in schools, to help people recognize and avoid scams.
(ROEL T. AMAZONA)
