Couple in multi-million ‘investment scam’ arrested in Batangas

Authorities have arrested a couple accused of alleged multi-million peso investment scam.  

GMA News' Jay Sabale on "Balitanghali" Wednesday identified the suspects as Nestor and Mary Joy Avenido, who were arrested in Sto. Tomas, Batangas. 

Police said that the couple owned a lending agency in Pili, Camarines Sur, and had duped people to invest in their firm, promising them of good, easy profits. 

At first, the suspects had paid their "investors" as expected. But later, they had been defaulting on the payments, the report said.

The couple could be facing possible charges of syndicated estafa. —Anna Felicia Bajo/LBG, GMA News