July 17, 2012
Five ranking officers of a multi-level marketing firm who defrauded dozens of prospective investors of at least P10 Million pesos are facing charges recommended by the National Bureau of Investigation (NBI) at the Department of Justice (DOJ) last Friday.
The subjects are identified as: (1) EDMUNDO C. CACERES, JR., (2) MARLON C. CACERES; (3) CELIA E. ROMERO; (4) CELSO O. CABRERA; and (5) MONALIZA C. BRENDIA, all incorporators and trustees of ECC-LIVELIHOOD SOCIAL SERVICES, INC. with address at 2nd Level, Margarita Commercial Center, Dita, Sta. Rosa. Laguna.
Caceres Jr. established Caceres Lending Investor Co. in 1999. In August 2011, Caceres adopted the concept of multi-level marketing and used the names Caceres Global Foundation, Inc. and Global Money Unlimited Incorporated (Global Money) in flyers and internet sites to recruit members. In March 2012 Caceres registered a new entity, ECC – Livelihood Social Services, Inc., with the Securities and Exchange Commission with subjects as incorporators.
On March 26, 2012, the Securities and Exchange Commission (SEC) referred to the NBI for parallel investigation the activities of ECC-LIVELIHOOD SOCIAL SERVICES, INC. for possible estafa thru Ponzi and/or Illegal Pyramiding Scheme of the ECC Livelihood Social Services, Inc. as well as the Caceres Global Foundation Inc. and Global Money Unlimited Inc. or Global Money, earlier established by Edmundo C. Caceres.
Two days, on March 28, 2012, after Kenie Martin and sixteen other complainants filed a complaint with the NBI and alleged that despite duly paying their membership fees and recruiting several members themselves, they were not able to avail of the promised incentives.
Subject recruit members who are required to pay a fee of P1,000.00 each and recruit their own "down-lines" who pay the same fee, will be provided among others the following benefits:
(1) Life Insurance – Accidental Death (P100,000.00), Total Permanent Disability (P100,000.00); (2) Hospitalization/Medical Assistance - P500.00 to P2,500.00; (3) GM Heart Fund – a certain amount given upon death of a member; (4) Money loan – P5,000.00 to P100,000.00; (5) Power Potential Income – P10,000 daily to P300,000 monthly; (6) Bonus Income – P20,000; (7) Loyalty Income – P50,000; and (8) Profit sharing – P50,000. Said benefits are given depending upon the member's down-lines (recruits).
On March 28, 2012, complainant Kenie Martin and 16 others filed a complaint alleging despite paying their membership fees and recruiting several members they were not able to avail of the promised incentives.
Likewise, complainants Candida Panta and Wilfredo Pacatang diled a complaint and alleged that they were recruited as members and/or investors by subject Caceres and on 13 February 2012 they signed a memorandum of agreement whereby complainants, for a fee of P500,000.00 were authorized to open a branch office and complainants were entitled to 20% of the total "pay in inventory" in their branch, However, on 28 February 2012, subject Caceres alleged non-remittal of payments and took over their branch.
The Insurance of the Philippine Islands Co., Inc. (IPI) said that while they agreed to insure the networkers of Global Money and released 10,000 insurance cards to them, the check payment for the premiums bounced leading to the cancellation of their memorandum of agreement with Caceres. On the other hand, the Insurance commission issued a certification that Edmundo Caceres Jr., Global Money Unlimited and ECC Social Livelihood Services, Inc. do not appear in the records of the Insurance Commission as having an existing license as insurance agents.
Charges of Syndicated Estafa as defined and penalized under Art. 315, par. 2(a) of the Revised Penal Code as amended, in relation to Sec. 1 of P.D. 1689 were recommended before the Department of Justice on July 13, 2012.