NBI reported that the company allegedly involved on the said investment scam is the Upwarm Limited Co., who flagged himself as a local direct sales company selling various goods.
On the investigation conducted by the NBI Anti-Fraud and Action Divisiion (NBI-AFAD), the Upwarm allegedly involve in pyramiding scam.
"We found out that while the company claims to be engaged in direct selling of different products, Upwarm's focus was mainly on recruitment. It does not market any product at all," said NBI agent Atty. Norman Anire.
In June alone, up to 168 investors from different places in the country filed a complaint against Upwarm allegedly deceived to invest in the company.
Based on information gathered by the NBI, the Upwarm is a partnership-type company built by Rodolfo de los Santos Miranda Jr. on March 14, 2014 and his business partner were Josephine Miranda, Ramill Carreon and Jocelyn Valdez.
Meanwhile, NBI said that Upwarm was a networking business asking for P1,499.00 membership fee from investors and deposited into the bank account of Rodolfo. With Facebook, each member is encouraged to recruit two new members to its account to become active to earn P6,000.00 per month.
In June alone, up to 168 investors from different places in the country filed a complaint against Upwarm allegedly deceived to invest in the company.
Based on information gathered by the NBI, the Upwarm is a partnership-type company built by Rodolfo de los Santos Miranda Jr. on March 14, 2014 and his business partner were Josephine Miranda, Ramill Carreon and Jocelyn Valdez.
Meanwhile, NBI said that Upwarm was a networking business asking for P1,499.00 membership fee from investors and deposited into the bank account of Rodolfo. With Facebook, each member is encouraged to recruit two new members to its account to become active to earn P6,000.00 per month.
Source: Balita
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