The Department of Justice has directed the National Bureau of Investigation to investigate an investment company for alleged financial scam.
In a Department Order No. 133, Justice Secretary Vitaliano Aguirre II ordered NBI Director Dante Gierran to conduct an investigation and case build-up over the alleged multi-million investment scam committed by Wahana Credit and Loan Corp. and its directors and corporate officers.
Aguirre said that the NBI should file appropriate cases, if there are sufficient evidence.
He also directed Gierran to furnish his office with its activities related to the implementation of his directive.
According to Securities and Exchange Commission Wahana Credit And Loan Corp. was not registered with the regulator and is not allowed to solicit investments.
The SEC said Wahana was promising investors returns as high as 12 percent per week and 48 percent per month through its business of lending money to casino players.