The 18 suspects in a rice trading investment scam in Caraga region were charged following a recent police operation in the company’s office, police said on Monday.
FRX Rice Trading Investment promised its members that the value of their investments would triple, Police Major Gen. Amador Corpus, chief of PNP Criminal Investigation and Detection Group, told ABS-CBN News.
The police raided the company’s office in Nasipit, Agusan del Norte last week after authorities received reports that pay-outs were being conducted in the office. Police recovered a log book and P23 million hidden in plastic containers during the operation.
The three founders of FRX Rice Trading Investment and 15 others are now facing charges of violating the Securities Regulation Code.
Source: abs-cbn.com
