Lost money in PIPC? Come out and file a complaint
July 25, 2007
Are you an investor of Performance Investments Products Corporation (PIPC)?
You probably know by now that Mr. Michael H.K. Liew, Singaporean owner of PIPC, has disappeared, supposedly taking with him most, if not all, of the company's funds. At present, investors are on the verge of losing all their investments if he or the money is not found.
The Philippine Star reported yesterday that the National Bureau of Investigation (NBI) and the Securities and Exchange Commission (SEC) are urging PIPC investors to come forward to help gather more information about the company because, until now, only one complainant has approached them.
"We are looking at everything but there are no complainants, except for the one who sought the help of the NBI (National Bureau of Investigation) to trace the whereabouts of the owner of PIPC," said SEC chairperson Fe Barin.
Barin urged investors and agents of PIPC to come forward to help the SEC gather evidence against the company.
High profile investors are reportedly hesitant to come forward and report to the SEC or police authorities on fears that they may also be held liable under the Anti-Money Laundering Act given the huge sums of money wired to PIPC’s worldwide network of banks.
So if you want to get your money back, help the SEC and NBI locate Mr. Liew. Below are the contact details of the SEC and NBI.
SEC Company Registration and Monitoring Department (CRMD)
Director: Benito A. Cataran
SEC Compliance and Enforcement Department (CED)
Director: Hubert Dominic B. Guevara
National Bureau of Investigation (NBI)
Director: Atty. Nestor Mantaring
Telephone: 523-8231 to 38