TWENTY persons said to be involved in a multi-million property investment and Ponzi scam on Saturday were arrested by joint agents of the Philippine National Police and the Presidential Anti-Organized Crime Commission in an operation in Baguio City.
The arrested suspects led by Jennylyn Floresca, a 43-year-old real state consultant, are facing criminal charges for violation of the Security Regulation Code or the Financial Products and Services Consumer Protection Act in relation to Section 6 of Republic Act 10175 or the Cybercrime Prevention Act of 2012.
According to a report submitted to PNP Anti-Cybercrime Group director Brig. Gen. Sydney S. Hernia, members of the Cordillera Regional Anti-Cybercrime Unit, the Securities and Exchanges Commission, PAOCC, and the Baguio City Police Station 5 conducted the raid
at Blossom 1 and 2 Orchard Hotel, Legarda Road , Baguio City.
The raid stemmed from the complaint filed by the SEC against Floresca, described as the chief operations officer/chief executive officer of the Casa Infiny Builders and Reality Company Limited; the Casa Infini Realty Management Co. Ltd.; the Ray Education Directions Consultancy Services; and the Ray International Philippines Corporation.
According to the complaint, the group of Floresca, using the business name of Ray Education Directions Consultancy, Be Unrivaled Productions and Sine Cordillera and Casa Infini Properties and Development Corp., scheduled a seminar at the Orchard Hotel last Friday.
The suspects allegedly “live-streamed” their event through the company Facebook page.
The group reportedly has attracted a number of prospective clients and representatives through their offer of huge investment returns in their real estate business.
However, the SEC said that it has discovered that the company is involved in an investment fraud.
Seized during the operation were the P1,384,236 in registration fee and investment money given by the seminar participants, as well as laptop computers, external drives, a money counter machine, two computer printers and two boxes containing assorted documents.
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