More complainants to file raps vs investment CEOs

By Felipe V. Celino 

 

ROXAS CITY, Capiz— More complainants are expected to come out and file charges against the chief executive officers (CEOs) of investment schemes who allegedly failed to return their money.

This was the statement of Atty. Arnold Diaz, Supervising Agent of the National Bureau of Investigation (NBI-6), after several persons lodged Large Scale Estafa and Syndicated Estafa charges against Chiyuto Creative Wealth Document and Facilitation Services of Don Patroceño Calvez Chiyuto or Don Chiyuto.

The same cases were also filed against Chiyuto’s alleged cohorts Judy Fajarillo of Cavite and Felomina Andrada of Barangay Adlawan here.

Several individuals also filed charges against Junelyn Gregorio Obamos of the 25-day double your money investment scheme.

Diaz said that the complainants have strong evidence to pin down the alleged “scammers” aside from the statements of witnesses and documents from the Security Exchange Commission (SEC), Department of Trade and Industry (DTI) and Business Permit and Licensing Office of Roxas City government.

Diaz said the investment schemes have no business permit, no Certificate of Registration as registered Associated Person, Investment Company Adviser and Mutual Fund Distributor, Salesman and/or Certified Investment Solicitor of a Broker Dealer in Securities Investment, Compliance Officer, Investment House, Underwriter of Securities.

The SEC had warned Roxas City and Capiz residents as early as 2020 to be wary of investments businesses that might be Ponzi schemes.

A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers. (Investopedia.com).

In March 2021, reports came out that Chiyuto was abducted by his former associates and he remains missing until today.