MANILA, Philippines – The Philippine National Police (PNP) Criminal Investigation and Detection Group (CIDG) arrested a woman for allegedly leading a P130.5-million investment scam.
Margarita Huang, also known as “Irma Pascual,” had 3 warrants of arrest and 12 counts of estafa hanging over her head before she was cornered by cops in a Quezon City condominium complex last Thursday, May 24.
Huang’s family and an aide allegedly scammed hundreds of investors in 2016, promising them big returns for investing in a lending company.
They issued a total of 423 unclaimable checks amounting to P130.5 million.
One of Huang's victims, a member of her local church, wishes her to rot in prison. pic.twitter.com/AVFnbFY07t— Rambo Talabong (@rambotalabong) May 28, 2018
How the scam worked: According to dozens of victims who watched the PNP’s presentation of Huang, she and her family required a minimum cash deposit of P250,000.
Depending on the value, the family supposedly promised “high returns” for anyone who could shell out the high amount.
According to one of the victims who refused to be named, Huang apparently went to church at the Sta Maria della Strada Parish in Quezon City.
There, she allegedly also tricked dozens of church mates into investing – couples, families, singles, and apparently even family drivers.
The PNP believes there are more victims of the Huang family, and called on them to submit complaints at the CIDG office in Camp Crame. – Rappler.com
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