The CIDG filed cases for Syndicated Estafa, violation of Article 315 (Estafa) of the Revised Penal Code, and four (4) counts of violation of BP 22 (Anti-Bouncing Checks Law) against the incorporators and employees of a loan consultancy corporation on Wednesday, January 22, 2020 at about 4:56 PM before the Makati City Prosecutors Office.

In his report to CIDG Acting Director, PBGEN JOEL NAPOLEON M CORONEL, PLTCOL BAYANI RAZALAN, Acting Chief of the Anti-Fraud and Commercial Crimes Unit stated that the cases were filed against ELAINE JOY SANTOS, MARVIN GO, JENNIFER LIAO, MAT RONALD CORTEZ and ANDREAS KRAEMER, all incorporators and employees of EMMRJ Loan Consultancy Corporation, an investment organization believed to be offering a high interest rate return scheme.

The filing of the cases stemmed from the complaint lodged by Mary Ann Facun, who was lured to enter into an investment agreement with the said organization when the respondents promised her of a 15% monthly interest rate return payable through bank to bank transfer or by issuance of post dated checks.

Enticed with the offer, the victim invested a total amount of Php550,000.00 in different occasions. The respondents failed to fulfill its promise when the victim tried to deposit four (4) post dated checks issued by Elaine Joy Santos but were not accepted by the drawee bank for the reason that the account were already considered “ACCOUNT CLOSED.”

Verification from Security and Exchange Commission (SEC) disclosed that the said corporation has no secondary license, authorizing them to solicit funds or money from the general public.

Accordingly, the crime was committed on various dates from April 22, 2019, July 02, 2019, August 15, 2019 and October 1, 2019 at Makati City, added by PLTCOL Razalan.

The CIDG urges the public to be wary or careful in making financial decisions and to never invest in the things that “promises higher returns in a short period of time.” ###