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Police widens scope of probe on savings scam
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Posted on Jan 15 2001
Police are looking into reports of a third savings scam prompting investigators to widen their probe as more garment factory workers have been victimized.
Capt. Delbert Sablan said they are investigating new leads that the factory workers invested their money in another company based on testimonies of some employees.
“We simply cannot interview all of them because we have to attend to our other cases. We will be able to get more information as we gather the set of questionnaires distributed to the different factories for the workers to answer,” said Capt. Sablan.
The Department of Public Safety is appealing to the remaining shareholders of Long City Traders Corp., the company which collected the money of the garment workers as they were promised to double their investment in three months.
Its biggest shareholder Kwan Yeun Cheung has already fled to Hong Kong on Jan. 6, 2001 on board Asiana Airlines via Seoul, Korea. DPS is asking the other shareholders who might still be on island namely, Quoc Yuen Cheung, Quoc Hao Triey and Yim Ling Chu to help the police shed light on the savings scam.
“We are asking them to visit DPS so they can provide us additional information. They are not suspects yet because they may not be involved in the financial mess at all,” said Capt. Sablan.
Investigation showed that Cheung is also a shareholder of another company, Pacific International Trade Corp., where he owns 24 percent. DPS is also asking Yao Wang and Yon Hoi Yee who are also shareholders of Pacific International to help them with the case.
Police discovered the savings scam after the workers discovered that Long City Traders which is also a jewelry shop on Beach Road, Garapan has already closed shop.
The worried garment workers ran to the police station in Garapan hoping to recover their investments but the alleged perpetrator has left the island. Police said the number of victims in Long City Traders savings scam could reach 700.
Earlier, some 50 garment workers have complained about the savings scam committed by owners of Zhida Market who also collected their money in exchange for higher interest. (Lindablue F. Romero)
