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OFWs warned vs fund scheme

/ 07:00 AM January 24, 2018

The Philippine Overseas Employment Administration (POEA) advised overseas Filipino workers (OFWs) to be cautious in dealing with people or groups offering “high-yielding” investments.

The POEA said a group of OFWs in Saudi Arabia reported the activities of a group known as Sangguniang Masang Pilipino International Inc., which was luring OFWs to invest in a company called Almasai Finance and Investment (now Almasai Equity Holding Corp.).

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Almasai’s address is at Murphy, Cubao, and its known owner was a certain Elpidio Reyes Tanaliga Jr. The OFWs said they were being asked to invest P50,000 for a monthly interest of 5 percent. —Tina G. Santos

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TAGS: Almasai Equity Holding Corp., investment scam, OFW, POEA, Sangguniang Masang Pilipino International Inc.
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