BAGUIO CITY – The management of Satarah Wellness marketing promptly released the principal investments of an American citizen after the latter was able to comply with the documentary requirements set by the company in compliance with their commitment to return the investments of those willing to withdraw and pre-terminate their contracts.
In her letter to Mayor Mauricio G. Domogan, Romyllie B. Lau, Satarah Wellness Marketing proprietor, admitted the complainant, Jorge D. Martinez Mayol, was not fully informed of his option as member that he can actually withdraw his principal account or opt for the re-scheduling of its interest and thereafter apply for withdrawal.
However, she claimed the company was able to release the principal amount to the foreigner as soon as they learned about the complaint.
Earlier, Mayol sought the assistance of Mayor Domogan to allow him to be able to recover his investment the earliest possible time and to compel the company to comply with its previous commitment to return the investments of members wanting to withdraw their money from the company.
In his separate letter to the Mayor, Mayol admitted having met with Satarah officials after the filing of his complaint and he stated that they were able to reach an agreement that has, in his opinion, satisfied the ordinance of the city and business standards he had.
Mayol expressed his gratitude to the mayor for his diligence in dealing with the said matter as Satarah assured him that it will make the proper administrative sanctions against the staff who misinformed him about his investments and creating issues among investors.
It can be recalled that no less than the Securities and Exchange Commission (SEC) warned the public not to invest in Satarah because it was not issued the appropriate license to sell securities and solicit investments.
After the SEC issued the aforesaid advisory, thousands of investors from different parts of the region started withdrawing their investments in a bid to recover their hard earned money and the company committed to return to the public their own investments in due time.
By Dexter A. See