Actor-host Luis Manzano summoned over fund scam

THE National Bureau of Investigation (NBI) has summoned actor and television host Luis Manzano for his alleged involvement in an investment scam.

This came after nine persons filed complaints of estafa against Manzano and Flex Fuel Petroleum Corp. before the NBI.

Manzano served as chairman of the board for Flex Fuel until February 2022.

One of the complainants, Jinky Sta. Isabel, alleged that she invested nearly P4 million to become a co-owner of two Flex Fuel gas stations in 2020.

According to Sta. Isabel, she was promised an income of P140,000 every three months but from 2021, she only received about P90,000.

She said the company’s justification was the impact of the Covid-19 pandemic, the lockdowns that were implemented, and the economic crisis caused by the war in Ukraine.

Sta. Isabel said she asked the company to just return her investment even without the profit that was promised to her. However, she later learned that more than 130 investors suffered the same fate as her.

In his affidavit dated Dec. 21, 2022, Manzano said he already sought the assistance of the NBI last year after several investors approached him, but this was not addressed.

In a letter addressed to NBI Director Medardo de Lemos dated Nov. 8, 2022, he clarified that he had “resolved to divest his interest and resigned as chairman of the board” of several corporations in the ICM group headed by Chief Executive Officer Ildefonso Medel, including Flex Fuel.

He further claimed that he was only made chairman of the board of the company since this was one of the guarantees for his investment. He added that he was not directly involved in running the company.

“Bong (Medel) conducted the business in such a way that operational matters were kept away from me,” said Manzano in his affidavit.

The son of actor Edu Manzano and former Batangas governor Vilma Santos said he resigned from the company in February 2022.

According to Manzano, until now there are still people approaching him to ask for help regarding their investment in Flex Fuel.

He said the company also owes him P66 million.

Sta. Isabel said Manzano should not have left the company suddenly and that he should have announced his resignation.

NBI spokesman Atty. Giselle Garcia said that Manzano and other Flex Fuel officials will be given an opportunity to explain their side.