Salvador Panelo Denies Alleged Involvement in an Investment Scam

Salvador Panelo Warns Public Against Investment Scam Allegedly Using His Name

Presidential Legal Counsel Chief Salvador Panelo has warned the public against the investment scam allegedly involving his name.

After his name was exploited to convince investors to invest in a company, Panelo issued a statement denying his involvement in an investment scheme. The Masa Mart Business Center (MMBC) apparently stated that he was their lawyer, according to his statement released.

“I have just been informed that a certain entity called Masa Mart is using my name and claiming that I am its lawyer. I understand that due to this misrepresentation, a lot of people are enticed to invest in the said company,” Panelo said in a statement.

Salvador Panelo Investment Scam

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Panelo explained in his statement that as President Rodrigo Duterte’s legal adviser, he is unable to practice or become a lawyer to anyone. As a result, he issued a public warning, urging people to report those people behind the MMBC who are caught using his identity.

“This is another scam. To dispel and eliminate all doubts, I categorically deny any affiliation with Masa Mart. I cannot be its lawyer as I do not even know anybody from it,” the Legal Counsel chief added.

The Securities and Exchange Commission (SEC) issued a public warning against investing in Masa Mart in January 2021. According to him, the organization presents itself as a multi-level marketing program that urges people to join their investment scheme.

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