Palawan multi-million investment scam exec nabbed in Davao del Norte

Alexis Valle, president of Palawan Entry Business Company (Pal-Eco)—one of the  alleged investment scam companies in Palawan—was nabbed Thursday, March 9 in Tagum City, Davao del Norte and was presented to Governor Jose Alvarez and the media by City PNP Monday, March 13. Valle faces arrest for at least 340 counts of estafa.

Police Chief Inspector Melvin Immaculata told the Press that Valle, under the name ‘Alex Montaňez’, tried to open another investment company in Davao. The said company’s operations have now been aborted following his arrest last week.

Nag-open s’ya ng panibagong investment scam doon. Pito pa lang ang kanyang na-recruit doon. Noong una walang naniniwala, pero sabi ko ‘wag basta-basta maliitin ang taong ito [Valle] kasi sa amin, may mga nagpakamatay dahil dito,” Immaculata said.

Valle has apologized to “victims” and said he was ready to face the consequences of the failure of their supposed “business” in the province, with more than Php200M worth of money involved.

Ang totoo po n’yan ang pumasok sa company 58 thousand na entries, nasa 203 million (pesos) ang gross,” he said.

Valle also said he tried to form another investment scam in another province to recover from losses and to eventually earn money to give back to their member/investors.

Valle asked authorities not to single him out and to file corresponding cases to their core leaders.
Pare-pareho kami nakinabang. Ako lang ang dinidiin nila. Kaya hinihiling ko na sana masampahan din sila ng kaso,” Valle lamented.

He also assured that he will cooperate with authorities so that the company’s remaining funds, amounting to Php15M and another Php2M under the custody of PNP, will be given to members.

Meanwhile, Governor Alvarez asked all the victims to file complaints against Valle.

Panahon na para pumunta kayo at magsampa ng demanda. Handa kami dito sa Kapitolyo, may mga abogado kami na tutulong para sundan natin ang proseso. Kahit ang pagnanakaw nila ng pera ay wala sa proseso, tayo ay alinsunod sa proseso,” he said.

As of press time, the complaints against Valle are being amended to include other core leaders. He was turned over to the Puerto Princesa City jail.

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