Businesswoman Marisol Ramirez asked the Securities and Exchange Commission to look into the case involving the heirs of the late National Artist Francisco Mañosa for allegedly running an investment scam.
Ramirez said in a statement other individuals might have been duped by the Mañosa family.
Ramirez alleged that Francisco Mañosa Jr. enticed her, being a family friend, to invest in an upcoming project called “Anahaw Park” in Alabang Hills, Muntinlupa.
Mañosa sent an “Investment Term Sheet” through email, designating Ramirez as “Investor” and Mañosa as “Investee.”
The opening line of the signed document stated that the signatory (representing the company), was “pleased to present an opportunity to invest in Mañosa Properties, Inc.”
Ramirez met the Mañosa family in 2011, and was lured to invest P50 million in 2017. Ramirez was promised a return of 8 percent a year, or the option to buy two houses in the project at a 15 percent discount after two years.
Months before the investment reached its maturation date, Ramirez informed Mañosa that she was exercising the 8 percent per annum return option. When Mañosa was unable to pay, Ramirez investigated further, and discovered that no such “Anahaw Park” project existed in Alabang Hills.