Investment firm in Bohol raided for allegedly operating without license

The National Bureau of Investigation (NBI) has raided the office of an investment company in Bohol for allegedly operating without a license.

A report on Unang Balita on Friday quoted authorities as saying that Klikmart Shopping Club Corporation, also known as Klikmart Rewards, does not have a license and has also committed violations under Republic Act No. 8799 or the Securities Regulation Code.

In the company's system, an individual must invest P1,500 that will in turn earn him up to P20,000 within 20 to 30 days.

For its part, Klikmart presented documents such as permits from the Securities and Exchange Commission, the Bureau of Internal Revenue, and the Office of the Mayor to prove its legitimate operations.

It also intends to file a motion to quash before the court, as well as a complaint against the NBI agents who conducted the raid, the report said.

The company also pointed out that it has not received any complaint about its system from its members. —Rose-An Jessica Dioquino/KBK, GMA News