DOJ orders Wahana Credit probed for investment scam

The Department of Justice (DOJ) has ordered the National Bureau of Investigation to probe into an investment scam and build a case against a credit and loan company.

Justice Secretary Vitaliano Aguirre II directed the NBI to investigate Wahana Credit and Loan Corporation and its directors and corporate officers and, if warranted, file charges against them. His orders were contained in Department Order No. 133, which the Justice chief signed Tuesday night.

The order was released to reporters on Wednesday.

In a separate advisory released February 26, the Securities and Exchange Commission warned the public against dealing with Wahana Credit and Loan Corporation and Wahana Multipurpose Bank.

WAHANA CREDIT AND LOAN CORPORATION by GMA News Online on Scribd

Wahana Credit and Wahana Multipurpose supposedly solicit investments with the promise of a 12-percent weekly return on investment or 48-percent monthly interest.

The SEC said both are not registered with the commission and are not authorized to solicit investments.

“Those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable or accordingly sanctioned or penalized,” according to the SEC. —Nicole-Anne Lagrimas/VDS, GMA News