Flex Fuel execs face raps; Manzano cleared

Syndicated estafa charges were filed by the National Bureau of Investigation against Flex Fuel Corporation president Ildefonso Medel Jr. over allegations of fraud raised by the company’s co-owners but cleared actor Luis “Lucky” Manzano.

The 11 other officers of Flex Fuel were also charged by the NBI Anti-Fraud Division before the Taguig Prosecutors Office.

Manzano, Flex Fuel’s former
co-owner/chairman, previously said that he consulted the NBI as early as September last year regarding Flex Fuel’s failure to meet its obligations with its co-owners and investors.

The actor-host was facing an NBI probe after several investors accused him of estafa over a failed co-ownership scheme offered by Flex Fuel Petroleum Corp. where the actor sat as board chairman.

The report stated that 100 investors failed to recover their investment of nearly P1 million each and at least five of them lodged a complaint with the NBI.

Manzano was not among those charged, although he was one of the incorporators of the company, as he had already resigned and was no longer connected to Flex Fuel in 2021, when some of the complainants invested money.

Based on the NBI’s investigation, the company allegedly solicited investment money from victims with the promise of making them partners in gasoline stations, but this promise was not fulfilled.

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