Friday, November 13, 2015

Airport NAIA Cops asked Missionary Michael White to pay P30K

This is a follow up to the "laglag bala" scam in the Philippines airport. According to Michael White, he was asked to pay P30,000.00. The price will rise to P80,000.00 if it will reach police heaquarters his stepmother said. Eloisa Zoleta and her stepson recount the ordeal in the airport last September.

They cops try to extort them but they refuse and said that they were innocent. The family during that time were going to Coron, Palawan to look for a piece of land because they wanted to build a church.

Zoleta said a bullet was found after White’s bag passed through the X-ray machine several times.

Nothing was detected when the bag was first checked, but after screening officer Maria Elma Cena allegedly put her hand inside the flap of White’s bag, the bullet was discovered in the next X-ray scan, she said.
Michael White 

After they were informed of the discovery, Zoleta asked the screening officers if she should have their flights to Coron moved. They told her it would be an easy matter, a remark that she found baffling if there really had been a violation of the law.

“The screening officers said, ‘That’s OK. It would be easy,’” she said, adding that Cena even told her that the flight wasn’t even until 12:45 p.m.

“I was thinking that if it was really the law and there was one ammo found in the luggage, shouldn’t their answer be that we wouldn’t be able to go to Coron because they would jail my son? Shouldn’t that be the answer if they were implementing it?” she said.

White was subsequently brought to the office of the Philippine National Police, while Zoleta tried to take care of their tickets.


Police officer Junio

She said a PNP officer she identified only as “PNP officer Junio” asked her about what had happened. After explaining, Junio told her about paying for the dropping of the case, she said.

“Usually we let the possession of such items pass. We just say it’s an amulet. If we negotiate that here, it (will cost you) P30,000. But if it’s passed on to headquarters, it’s P80,000,” Zoleta recalled the police officer as saying.

Preacher with no salary

He also asked about her husband’s job and she informed him he was a preacher who did not receive a salary. The officer also asked about White’s job and she told him he had resigned from his job.

Their conversation ended then because Zoleta’s brother called her up, and she never saw the police officer again.

White also said a police officer, Rolando Clarin, had told him he could pay P30,000 or face the prospect of jail. But he said the bullet was not his and he did not have the amount.

Zoleta said the officers had tried to convince them to own up to the bullet possession.

She said another officer had appealed to her to help White, as he was a foreigner and his life could be ruined.

Pregnant

And as they were about to head for White’s inquest, Zoleta said Cena came up to her and told her that she could have just admitted to carrying the bullet since she was pregnant, and there was a humanitarian law.

“I responded to her, ‘ma’am, why would I admit it?’ I know that’s the easier way out to say it’s ours and I’m pregnant, but I told her we’re Christians. We can’t lie about a small thing just to find an easy way out,” she said. 

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Thursday, November 12, 2015

SEC is asking DOJ to issue for 'lookout order' vs Emgoldex execs

Here is a follow up news about Emgoldex or the Global International Investment. The rumored scam investment which victimized the OFW and the Filipinos who are greedy and want  to earn money fast.

To those who are not aware about this business scheme, some of the incorporating members are now watched.

SEC said the lookout order was requested for Kevin Miranda, Ryan Manuit, Charles Juiz Padilla, Raahbel Ymas, John Rafael Calicdan, Jove Cajita, and Paul Alviar.


 The suspects, most of whom are incorporators of Prosperous Infinite Philippines Holdings Corp. (PIPHC), are being accused of selling or offering for sale or distribution unregistered securities to the public and without a license.

 The DOJ issues a lookout bulletin order to monitor movements of suspects facing criminal charges. 

The Bureau of Immigration (BI) then implements the same and issues an alert bulletin for further monitoring of suspects in the event that they pass through immigration counters in any international airport or seaport.

 Charges against related entities Emgoldex, PIPHC, and Global Intergold (GIG) were earlier filed by the SEC.

 SEC issued a warning against investing in Emgoldex as early as February 2015. The commission alleged that the company lures investors through promises of high returns, where an investment of P1,000 would earn profits ranging from P5,000 to P10,000 or a placement of P35,000 would yield P180,000 to P360,000.

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Monday, November 9, 2015

18 years for OFW to save P3 Million!

I read an article stating that it will take 18 years for an OFW to save P3 Million so that he could return home for good? Assuming that he save part of his monthly salary alone or with the spouse is worth P13,800.00. Do you think it is only worth P 3 Million? Let us compute to prove this argument.

So Let us Multiply P13,800.00 by 12 months to get a yearly saving.

Yearly saving is P165,600.00

For 18 years, we will multiply P165,600.00 by 18 years.

In 18 years we have P2,980,800.00

Wow, it will take 18 years to earn that money and you lost that 18 years away from home. Would you wait that long to earn P3,000,00.00?

For me, I don't think so!

There are many ways to grow your money like building a small store, doing part time jobs and investing. Yes, you heard me, investing.

With regards to small business, don't be discouraged because although it is a small business but I think it will add more income to you and you can save more money. After all, millions started from cents or perhaps P1.00.

The problem of being an OFW is that it is hard to start a business without our presence. Most of the time it will go bankrupt due to mismanagement and etc. Real Estate is also a good investment depending on location. Real Estate is all about location, location, and location.

The best option for me is to invest in stock market. Although almost all gurus will say that there is no guarantee that you will earn income from it since the stock market is fluctuating. Many will tell you to stay away from stock market. Leave it to the expert. But base in history and it is really proven that in the long run, this investment will earn more interest than real estate. If you read the American stock graph and even in the Philippines, long term stock investment will beat inflation and other forms of investment. But of course, you have to diversify your investment too. As the saying goes, don't put your eggs in one basket.

I would suggest that you have to invest in stock market but if you are not that savvy on the stock, it is better to invest in the mutual fund just like me. Balance Fund which is has bond fund and equity fund will increase 15% average yearly but if you invest in equity which is stock market using the mutual fund, it will have a yearly average of 20%.

I myself invest in a mutual fund but purely equity. Of course, I experience up and down. But I am  okay because I understand that it is normal for the stock market to move up and down for awhile but really, the direction is going up in the long run.

Why I invest in Mutual Fund instead of Stock Market? It is because I feel safe in it. Mutual Fund is composed of many companies that represent stocks. So if one company or stock is down or bankrupt, there are still other company to counter-balance it so the losses are minimized. If you invest in companies and it will close, all your money is gone. So that is the difference.

Back to the main topic why would I spend 18 years in abroad when I can grow my money faster by investing? Don't put your money in the bank, they will just laugh at your back. The bank will invest your money and they will get the high interest and you get the 1.5% interest yearly minus the 20% withholding tax on the interest so in reality, you will receive a 1.2% lol.

Here is the formula to compute your money if you up to work for 18 years abroad while investing the P13,800.00 monthly assuming a 15% since you invest it in mutual funds.

 101503_11.gif

FV= Future Value of your Money
C= yearly money value invested or the money you save and invest yearly
I= Interest yearly
N= Number of years

So assuming C=P165,600.00 yearly invested
I= 15% interest yearly
N=18 years

We have

FV=165,600.00 X (1+.15)Exp 18-1)/ .15 X 1.15
FV=165,600.00 X 11.375453/ .15 X1.15
FV= 165,600.00 X 87.211
FV= P14,442, 275.00

You see your money will grow up to P14,442,275, not P3 Million Only!

The secret is investing and by doing so your money is compounded every year with 15% interest. This is just conservative computation.

Hope you find this article informative and good luck.

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