Luis Manzano seeks NBI aid to probe fuel company

Luis Manzano

Actor Luis Philippe "Lucky" Manzano has requested the National Bureau of Investigation (NBI) to investigate Flex Fuel Petroleum Corporation after its investors approached him to seek his aid in recovering their investments in the fuel company, which is one of several companies that currently owe Manzano just over P66 million.

In a letter addressed to NBI Director Atty. Medardo De Lemos dated Nov. 8, 2022, Manzano through his counsel, Atty. Regidor Caringal, 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 "Bong" Medel, including Flex Fuel Petroleum Corporation.

According to Caringal, "various individuals claiming to be investors/co-owners of Flex Fuel have been reaching out to our client for assistance."

Caringal said that Manzano was appealing to the NBI "to conduct an investigation on this matter" as Medel had failed to address the concerns of the said investors.

In an affidavit dated Dec. 21, 2022, Manzano explained that he was made chairman of the boards of Medel's companies "as one of the guaranties for my investment."

Manzano stressed, however, that "I never took part in the management of the business" and later resigned and formally disassociated himself from ICM group companies, including Flex Fuel.

"Bong conducted the business in such a way that operational matters were kept away from me," said Manzano, who added that Medel did not disclose "important matters" to him.

In the same affidavit, Manzano narrates that after resigning from Flex Fuel and other ICM companies in February 2022, various investors reached out to him for assistance, but after relaying these to Medel, no action was taken by the latter.

"Up to now," lamented Manzano in the affidavit, "there are still individuals reaching out to me for help and assistance regarding their investments in Flex Fuel."