Investment scam victims who lost millions troop to CIDG after arrest of alleged mastermind

Investment scam victims who have lost millions of pesos trooped to the Criminal Investigation and Detection Group (CIDG) office following the arrest of the scam's alleged mastermind.

Authorities arrested Jessie Royo, chairman of “Masa Mart,” at the Ninoy Aquino International Airport Terminal 2 as he was attempting to fly to Taiwan, according to Emil Sumangil’s “24 Oras” report on Tuesday.

Royo is wanted for syndicated estafa.

“Pagbaba pa lang niya, we immediately accosted him and told him that we are arresting him through a warrant which is non-bailable case,” Police Lieutenant Colonel Emerey Abating, chief of CIDG - Major Crimes Investigation Unit, said.

More than 5,000 complainants filed charges against Royo after he allegedly took the money of his investors in “Masa Mart.”

“Siya po talaga ang pinaka-leader ng ‘Masa Mart’ which have victimized more than 5,000 persons. Minimally, mga P500 million,” Abating said.

GMA News first reported on the victims' complaints last March.

The suspect allegedly made the victims believe that their money would grow through foreign exchange trading.

“Naibenta ko ang lupa ko, pati ang aking nasa bangko. Nag-away po kami mag-asawa kasi yung mga kamag-anak niya napasali namin. Ayon napagbintangan kami na parang nagduda sila na nasa amin ang pera,” businesswoman, who lost almost P54 million, said.

(I sold my property, as well as my money in the bank. My husband and I fought because we got his relatives involved. We were accused of taking their money.)

Some complainants flew from the provinces to clear their names.

“Natatakot din kami sa mga taong sumisingil sa amin,” complainant Imarudin Agao said.

(We are also afraid of people who are trying to get their money back.)

“Si Jessie Royo po talaga ang kumuha ng pera, pati po ako na-iscam ako ng P1.2 million naisangla ko po lahat ng ari-arian ko po,” Arlene Ibanez, another complainant, said.

(Jesse Royo took the money. I was also scammed of P1.2 million, I mortgaged all my property.)

Royo, however, declined to make a statement.

“Nasa korte na po kasi yung kaso, hindi na po ako pwedeng magsalita,” he said.

(The case is already in court, I can't speak anymore about it.) — DVM, GMA News