The NBI has absolved Luis Manzano in estafa complaints.
The National Bureau of Investigation (NBI) has absolved Luis Manzano amid estafa complaints against Flex Fuel.
Kapamilya host Luis Manzano is the former Flex Fuel chairman. However, in 2021, he has already resigned from the said post. This means that he is no longer associated with any businesses this company is going to make starting from that period.
This January 2023, Luis received complaints from other investors of Flex Fuel. They were demanding their invested money be returned to them. Reportedly, 100 investors invested their money in the fuel company and most of them did such because his name was attached to it.
Meanwhile, it was accordingly Ildefonso “Bong” Medel, the chief executive officer, who is hands-on with the whole business, and that operational matters were kept away from him despite being the chairman before. Moreover, he has also invested Php 66 million, and just like the other complainants, he also wants his money back.
Half of the investors filed an estafa complaint against FlexFuel and Manzano. But recently, the name of the host was cleared by the NBI. He was absolved as their investigation showed that “his name was no longer reflected as such in subsequent years on the Securities and Exchange Commission (SEC) documents, owing to his resignation”.
He was actually among the complainants, as well.
Ildefonso C. Medel, Jr. alias “Bong” and 11 others were subject to prosecution as they were the officers who solicited investments. This also came with the promise that this one-time investment will make them co-owners. However, none of these materialized.
As for the camp of Luis, they expressed gratitude to the NBI in obtaining justice for the host who is also a victim of the investment scam.
According to a report from PEP, Manzano’s spokesperson Atty. Regidor Caringal said, “He shares his co-investors’ hope for a quick resolution to this matter, and he remains committed to helping efforts to recover the funds that they invested in the company.”
Meanwhile, in a previous article, the father of Luis, Edu Manzano reacted to his alleged involvement in the scam. Edu expressed no worries as he saw that his son was doing the right thing.
The mother of Luis, Vilma Santos, also reacted and expressed that she knows her son very well. She knows that he is not someone who will do such a bad thing to other people.
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