ALLEGATIONS of fraud and large-scale estafa against actor and television host Luis “Lucky” Manzano regarding a gas station investment scam will be investigated by the National Bureau of Investigation in a hearing today, Monday.
More than 50 investors, including 15 overseas Filipinos, of Flex Fuel Petroleum Corp. alleged the company, including the actor, are engaged in large-scale estafa. The investors said they failed to recoup their investment in Flex Fuel’s co-ownership scheme.
Manzano’s camp requested the NBI last week for a 15-day extension to prepare documents and other evidence for their defense. But the NBI denied the request.
Manzano, the son of actor Edu Manzano and showbiz icon Vilma Santos, had been identified as chairman of the board of the company although he claimed he had divested his interests in the company and resigned as chairman in February 2022. He also said Flex Fuel owed him P66 million.
Manzano’s camp said he sought the assistance of the NBI as early as last year after several investors reached out to him complaining the company had failed to meet its obligations.
He pointed the blame to Flex Fuel’s mother company, ICM Group of Companies, and its CEO, Ildefonso Medel Jr.
Manzano said he resigned from the company due to Medel’s failure to disclose important matters related to Flex Fuel.
The management of the company denied the allegations, but said their sales suffered due to the pandemic, the ongoing war in Ukraine, and other factors beyond their control.
The management also emphasized they are not involved in a scam or any fraudulent activity.
