Philippines: Woman Arrested in Alleged ₱100 Million Catering Investment Scam
MANILA, Philippines — A 45-year-old woman has been arrested over an alleged investment scam linked to her catering business, with more than 250 investors reportedly defrauded of over ₱100 million, according to ABS-CBN’s report citing police.
Investors Promised 5% Monthly Returns
The Manila Police District’s Criminal Investigation Section (MPD-CIS) said the suspect solicited ₱100,000 investments with promises of a 5% monthly return. The existence of a legitimate catering business helped make the offer appear credible.
Police Major Jake Serrano Arcilla, chief of the MPD-CIS, said victims reported that the business had operated since 2003. Its substantial social media following also helped attract investors.
One investor, identified as Lyn, said she lost ₱100,000 after being persuaded by video calls, a contract and the promised returns. She became suspicious after three months without payouts.
Agnes, an overseas Filipino worker based in Canada, reportedly lost ₱500,000. She said consistent early payouts encouraged her to invest more before payments stopped.
Suspect Located at Casino
Acting on a tip, police located and arrested the suspect at a casino. The report linked the case to an alleged gambling addiction, but did not establish how much investor money, if any, was spent gambling.
Police are investigating possible accomplices, including the suspect’s live-in partner. Arcilla said the partner was also named in the arrest warrant but remained at large.
The suspect is in MPD custody and faces an estafa, or swindling, case. The suspect declined to comment.
Police urged the public to be cautious of investment offers promising high returns within a short period.
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