DESPITE being registered with the Security and Exchange Commission (SEC), “Bagong Bansang Maharlika” (BBM) International Incorporated, which is circulating in the country, is an investment scam, Department of Interior and Local Government in Davao Region (DILG-Davao) Director Alex Roldan revealed to the media during a press conference on Wednesday morning, August 23, 2023.
“Nag adto na sila sa opisina kay nangayo sila’g endorsements.Sige sila’g pangayo og ayuda. Kung dili magpa-miyembro sa ilaha, dili sila muhatag og ayuda. Ang akoa lang, naa man ta’y DSWD, nganong muagi pa man sa ilaha” (They [BBM] have gone to the office asking for endorsements. They often ask for funds. If you don't join them, they won't give you help. For me, we have DSWD, why go through them),” he said.
Meanwhile, when asked about the current status of the organization, the official added that they have received information regarding their operation in the region particularly in Davao del Sur, Davao del Norte, and Davao Oriental.
“Nagasuroy-suroy sila karon [ug] mangayo og kantidad sa pagpaprinta sa inyohang mga ID. Boot pasabot, mangayo na sila’g investment” (They are going around now [and] asking for money to print your IDs [Identification Cards], and they will ask for investment) - he said.
Investment fraud has been around for a long time but it once again created online buzz months ago, collecting information on people and money ranging from P100-150 despite being non-profit or non-stock.
The group also reached out to one of the members of the media community in Davao for a press conference; however, as of writing, the group is yet to be catered to.
BBM International Inc. was SEC registered last March 18, 2022 but it is prohibited from soliciting investment.
In a press release, SEC clarified that non-profit, non-stock corporations — including foundations — are prohibited from requesting investments from the general public. Any investment solicitation is prohibited without a secondary license from the Commission. DEF
