NBI Issues Subpoena For Luis Manzano Over FlexFuel Investment Scam Allegations

The National Bureau of Investigation (NBI) issued a subpoena for actor Luis Manzano in connection with allegations of an investment scam involving a gas station.

NBI Issues Subpoena For Luis Manzano Over FlexFuel Investment Scam Allegations
Image by Luis Manzano via Facebook

In a report on GMA’s ’24 Oras’ on February 10, NBI personnel delivered the subpoena to the actor’s residence in Taguig City. According to the NBI, it has received numerous complaints from investors who claim to have been defrauded by Manzano and his associates. Some 40 investors filed estafa complaints against Manzano and his associates linked to Flex Fuel Petroleum Corp. According to the investors, they were promised high returns on their investments, which they claimed to be fraudulent.

An investor who wanted to be named “Leo” claimed to have invested P1 million in the business venture.
“Pumasok po sa aming Zoom meeting si Luis Manzano at nagpakilalang owner at chairman ng Flex Fuel. Ito raw po ay isang lifetime business, pandemic business kaya po napakaganda po. Ako po ay nagloan sa bangko upang mapadala po sa Flex Fuel para po sa investment. At ng April 22, 2022, makalipas ang anim na buwan, wala pa rin po silang natatayo na gasoline station. Kahit isa,” he said.

[During a Zoom meeting, Luis Manzano appeared and introduced himself as the owner and chairman of Flex Fuel. He said the venture is a lifetime business and pandemic-proof. It was such a good deal that I decided to take a bank loan and send it to Flex Fuel as an investment. Until this April 22, 2022, after six months, not one gas station was built.]

Jinky Sta. Isabel, another investor, asked that their money be returned. She said they will drop the lawsuit even if they only receive the principal—the entire sum that was deposited into his account—and not any earnings or interest.

In a statement on Facebook, FlexFuel denied the allegations and said the issue is a “deliberate and systematic smear campaign” against their company. The company denied that they were involved in any form of scam or fraud against their stakeholders, and their personnel and officers would never make false promises to the public. The company did admit that due to the pandemic and economic challenges, “the company suffered and continues to suffer extraordinary financial setbacks.”

Manzano, meanwhile, denied profiting from the investment and claimed he was a victim. In a Philstar report, the actor said the corporation also owed him P66 million and that he had already resigned as chairman of the board as early as February last year. NBI Spokesperson Giselle Garcia-Dumlao said the investigation is still going on and they want to observe fairness for all parties involved.

Don’t let your hard-earned money go to waste. Always be wary and learn to spot investment scams. Good luck!

You can watch the report on GMA’s YouTube channel:

Sally Mae

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