Reports from Davao City say Vice Mayor Paolo Duterte, son of presidential aspirant Mayor Rodrigo Duterte, has been allegedly involved in MLM scam.
The Vice Mayor however denied his involvement and said his name was used in order for some members to get more recruits.
The program in question is Jacama Sales and Marketing which was operating in Davao City before it was closed on January 16.
The Securities and Exchange Commission issued a warning on January 11 against investing into Jacama.
Duterte told reporters that based on their monitoring, Jacama Sales and Marketing, which was shut down by the City Government, had dragged his name to its operation to convince investors about the legitimacy of the company.
“Actually, I started to receive texts and calls that they had been using my name so I reported it to Davao City Police Chief Danao for investigation),” the vice mayor said.
Duterte denied investing in the company.
“They were claiming that I invested in million. How can that be when I even have a lot of debts” Duterte said.
Jacama, last Friday was closed by the city for lack of proper business permit and also lack of Securities and Exchange Commission permit to solicit investments from people.
Although Duterte denied his involvement, his critics say the Vice Mayor is just giving an alibi.
“Election is coming so expect all candidates to raise funds by hook or by crook”, one of his critics who refused to give his name told media on Friday.
Source: Sunstar, image credit: screengrab
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