Gas station operator Dual Fuel caught running ‘Ponzi’ scheme

MANILA, Philippines — The Securities and Exchange Commission (SEC) has revoked the incorporation of Dual Fuel Petroleum Corp., citing its illegal solicitation of investments using the ‘Ponzi’ scheme. In an order dated Feb. 17, the SEC’s Enforcement and Investor Protection Department (EIPD) cancelled the company’s corporate registration for breaching provisions of the Revised Corporation Code and