CIDG arrests 4 Bulacan investment scam suspects

The Criminal Investigation and Detection Group (CIDG) on Friday arrested four suspects allegedly involved in an investment scam in Bulcan.

According to a Saturday report by Lusito Santos on Super Radyo dzBB, arrested during a Quezon City entrapment operation were suspects Reo Mark Borbon, Jarwin John Balosca, Mary Jane Alberos, and Richelle Hernandez, employees of the BroilerPRENEUR Corporation.

4 na sangkot sa investment scam, naaresto sa entrapment operation ng CIDG-Bulacan sa Quezon City @dzbb pic.twitter.com/NYpbVxFtjv

— Luisito Santos (@luisitosantos03) October 5, 2019

The suspects allegedly attracted investors in Bulacan and encouraged them to invest in the company in exchange for an 88% interest in 90 days.

According to the CIDG, a complainant had almost invested P50,000 in the company but quickly withdrew the investment when she heard it was a scam.

The suspects were being held at the CIDG Bulacan Provincial Office and would be charged for violation of Sec. 28 of Republic Act 8788 or the Securities Regulation Code, direct assault, resisting arrest, and disobedience.

In a statement dated June 3, the Securities and Exchange Commission of the Philippines warned the public against investing in ADA FARM and BroilerPRENEUR as neither was authorized to conduct such activities. — Joahna Lei Casilao/DVM, GMA News