File case vs Freeman, SEC tells police exec

By LITO RULONA
Correspondent .

SECURITIES and Exchange Commission (SEC) director for northern Mindanao Renato Egypto has called on a ranking police official to press and pursue charges against Mark Freeman and others behind the controversial Ploutos Coin scheme here.

Egypto urged Senior Supt. Henry Cay-as to lead investors in filing of criminal cases against the Freedom Traders’ Club (FTC) headed by Freeman.

Cay-as is the first police official to file a complaint against Freeman and his group at a police station here.

Egypto said Cay-as can file mutiple syndicated estafa charges against Freeman who founded FTC and launched the now controversial investment scheme in the city.

He said the SEC has been waiting for Cay-as to bring the matter to its regional office.

“Isip dakong opisyal sa gobyerno siya mismo ang pwede nga mag-lead and guide other victims of Freeman in filing appropriate cases in court,” Egypto said.

But Egypto noted that Cay-as was dragged into the controversy and that he would need to execute an affidavit “to clear his name” so that he could be considered a legitimate complainant.

Over local radio, Cay-as claimed that he and his friends invested over P47 million in Freeman’s group out of trust.

“Ako dili motou nga iya kanang kuwarta tanan ang P47 million apan daghan ang mi-uban kaniya tungod kay siya usa man ka prominent person,” Egypto said.

Egypto said he suspected that much of the P47-million investment claimed by Cay-as could have been from “downlines.”

“Mas gikalipay namo karon karon kay nag-pile up na ang complainants. Si Cay-as possible nga gi-pressure na sa iyang mga downlines… si Cay-as ang upline,” Egypto said.

Egytpo said he has been informed that there were many other people, not only in Cagayan de Oro City, who are planning on pressing charges against Freeman and his group after the group’s founder failed to fulfill his promised payouts this September.

“Kato kay wala natuman usa ka na ka element sa estafa nga he was not able to make good sa iyang promise,” he said.

Some of the complainants, he said, have already sought the help of the National Bureau of Investigation (NBI).

The SEC, according to Egypto, is closely coordinating with the NBI regional office.