JEDDAH, 27 June 2007 — The Philippine Embassy in Riyadh has warned Filipinos in the Kingdom against a new scam targetting Overseas Filipino Workers.
In a press statement, the embassy said the group that goes by the name PGMA Unity Philcharity Fund, Inc., victimizes the gullible by sending them letters and certificates stating that they have won in a raffle drawn from roaming cell phone numbers.
The OFW is then asked to remit via Western Union a certain amount in US dollars to the Philippines for purposes of processing the prize.
According to the embassy, the group claiming to be a “pangkabuhayan” or livelihood program is not registered with the Security and Exchange Commission (SEC).
Citing an SEC statement issued through the Department of Foreign Affairs in Manila, the embassy said the address given by the group at Ngulvou Bldg., Ayala Avenue corner Legaspi St., Makati City, is fictitious.
“The embassy therefore warns all OFWs in the Kingdom to be extra cautious regarding the abovementioned organization and confirm the legality of the existence of a corporation or association at the SEC before entering into any transaction. The SEC website is www.sec.gov.ph.,” the statement said.
Thousands of Filipinos in the Kingdom are said to have lost money in been different scams.
In a series of seminars on “Financial Literacy” in the Kingdom from June 11 to 18, Philippine financial adviser Francisco J. Colayco urged OFWs to “avoid the get-rich-quick mentality,” saying that the best way is to keep saving and investing in legitimate business.