P130.5 MILLION PONZI SCHEME, SCAMMER ARRESTED WITH 423 VICTIMS-INVESTORS - PHILIPPINE REPUBLIC NEWS

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Sunday, May 27, 2018

P130.5 MILLION PONZI SCHEME, SCAMMER ARRESTED WITH 423 VICTIMS-INVESTORS







PNP Chief Director General Oscar Albayalde presented Margarita Huang or 
Irma Pascual in Ponzi Scheme, an alleged scammer with 12 counts of estafa. This large-scale investment scammer who victimized hundreds of individuals was arrested due to a multi-million peso fraud.

The Criminal Investigation and Detection Group (CIDG) issued warrant of arrest to Huang after receiving complaints of defrauding hundreds of individuals for purported investments.

Complaints were also filed against Huang’s husband Gary, daughter Nicole, son Conrad, and aide Marivic Ifurung.

“The cases stemmed from at least 423 ‘bouncing checks’ amounting to P130.5 million that she and her husband Gary allegedly issued to 423 investors in her purported lending business back in 2015,” Albayalde added. 

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