Woman nabbed for ‘swindling’ millions from investors

By Jennifer P. Rendon

A 34-year-old woman was arrested in an entrapment operation evening of Dec. 7, 2023 at Barangay Our Lady of Fatima in Jaro, Iloilo City.

“Michelle,” a resident of Deca Homes, Barangay Balabag, Sta. Barbara, Iloilo, is accused of swindling a lady investor of around P5 million.

According to Shena, 33, of Westwood Grand Subdivision in Barangay Dungon A, Mandurriao, she invested the money with Michelle who promised a big commission.

Major Eduardo Siacon, Jr., Iloilo City Police Station 3 commander, said Michelle claimed to have clients, usually government agencies and local government units, who purchase medicines and medical equipment from her.

Since she had no money, Michelle sought investors to finance her business. She promised to do the leg work while the investor would only provide her money to pay for the orders.

In the case of Shena, she already invested P5 million but Michelle asked for an additional P146,000 for the order placed by a barangay.

Michelle even presented a purchase order but upon checking, the signature of the barangay captain was spurious.

“But even before that, the complainant had doubts about the transaction. That’s why when the suspect asked her for additional money, despite that her P5 million is yet to gain interest, she reported it to the police,” Siacon said.

Michelle was arrested after receiving the P146,000 (in P500 subscriber bill while the rest were boodle or fake bills).

Also taken from her were an acknowledgment document, two mobile phones, a bundle of receipts; a bundle of bank passbooks, a bundle of checks, and a bundle of purchase orders.

Siacon said around 15 other complainants accused Michelle of the same modus operandi.

Another complaint went to ICPS4 on Friday and accused Michelle of milking P11 million from her.

“We can’t say how much money is involved since some of the complainants reported it to other police stations,” Siacon said.

Michelle is now detained and will be charged for estafa.