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Five held for Php400-M investment scam in Visayas

Five persons were arrested for allegedly running an investment scam in Metro Cebu.

The Criminal Investigation and Detection Group in Central Visayas (CIDG-7) arrested the persons behind the company named Phoenix EA Holding International Incorporated in an entrapment operation past 10 p.m. on Tuesday, Oct. 22, in a coffee shop in North Reclamation Area in Mandaue City.

The arrested persons are identified as Ailyn Matulac, 41, from Davao City and who was pointed as the founder and Chief Executive Officer of the said company.

The police found out that the group of Matulac has been deceiving investors in cities of Davao and Cagayan de Oro.

According to the authorities, the company has collected almost P400 million.

Arrested also were former Cagayan de Oro City Vice Mayor Caesar Ian Acenas; Arjon Gumban, 26 and from North Cotabato; Maria Esperanza Makinano, 34 and from Cagayan de Oro City; and Adjetor Daya Jr., 35 and from Davao City.

Police Major Edwin Lacostales, CIDG-Mandaue City field unit chief, said that their office received numerous complaints against the company operating in Metro Cebu headed by Matulac.

According to Lacostales that the modus of the group is to entice the public to invest in the company, promising 30 percent profit in the investors’ money after 30 days or a month.

Lacostales added that to avoid being tagged as a scam, the company will give beauty products to those who will invest.
CIDG-7 will file a case against Matulac and her group for violating Section 28 of Republic Act 8789 or the Security and Exchange Commission Cose and the illegal possession of firearms after the authorities confiscated unlicensed firearms from the body guards of Matulac.

Staff Report

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