The SEC needs at least 19 complainants in order to file a separate case against One Dream officials.
"We still have to convince the investors to come out with the necessary affidavits because we need this for the filing of the case," said Jose Aquino, director of the Enforcement and Investor Protection Department at SEC.
City officials admit it is not easy for them to convince investors to turn whistleblowers against those behind One Dream.
"[Iniisip nila] makukuha nila 'yung kanilang investment, kumbaga ayaw nilang kalabanin 'yung mga Dacer or One Dream para mabawi pa rin nila 'yung kanilang investment," said Lipa City administrator Atty. Leo Latido.
Latido added that some investors refused to cooperate because they're still hoping to get their money back.
Several investors have filed before the Department of Justice (DOJ) a syndicated estafa case against One Dream owner Arnel Gacer, One Dream vice president Jobelle de Guzman, and other officers identified as Ariel Gacer, Richard Ramos, Jay-Ar de Guzman, Marlon de Guzman, Judith Itoh, Jun de Guzman, Lui de Guzman, Linda de Guzman, and Joel de Guzman.
The complainants said the company used a system profit scheme in recruiting investors.
Under the scheme, investors were required to put in P888 with the promise of a "pay-out" of P1,300 after four days.
However, the complainants said One Dream suddenly stopped its operations on July 11 after getting complaints that it failed to pay back its investors.
The DOJ has subpoenaed One Dream officials to appear in the first preliminary investigation hearing of the case on August 13 and the next hearing scheduled on September 1. -- Report from Val Balita, ABS-CBN News Southern Tagalog
source: www.abs-cbnnews.com
