CEBU CITY — The Criminal Investigation and Detection Group in Central Visayas (CIDG-7) and the Anti Cybercrime Group (ACG) Visayas raided the offices of two companies allegedly engaged in pyramiding scheme in Cebu ordered stopped by the Securities and Exchange Commission. With a search warrant, the operatives first swooped down the main office of Organico Agribusiness Ventures Corp. in Barangay Mabolo, Cebu City past 9 a.m. on Tuesday. ADVERTISEMENTThe CIDG-7 confiscated documents and computers from the Organico office but failed to find any personnel in the office. Police Major Niño Briones, CIDG-Metro Cebu Chief, said it appeared that the Organico personnel knew that the office would be raided, especially after President Duterte ordered a crackdown on firms engaged in pyramiding scheme. Briones said they were still conducting another investigation against four other companies in Cebu that were into pyramiding scheme.

Source: Philippine Daily Inquirer June 11, 2019 07:30 UTC