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Friday, March 29, 2024

Three face estafa over Ponzi scam allegations

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BAGUIO CITY—Three officials of an alleged Ponzi firm were charged by the city prosecutor’s office for estafa after finding probable cause in the various complaints filed against them.

The suspects are  Weng Faye Cabreros Cabusas alias Rowena Faye Cabusas, Gavino Mariano Tan and Romell Enriquez Tan of Goldxtream Trading Co. with address at 42 Bronze Street, Tugatog, Malabon City.

The complaint was filed  by Ligaya Calingayan who was reportedly duped of her hard-earned money.

In a four-page resolution, Associate City Prosecutor Paulyn Maurie A. dela Cruz-Castro Records show that Cabusas informed the complainant about Goldxtream which accordingly gives a return of P25,000 for an investment of P5,000 after 11 days only.

Cabusas also reportedly assured Calingayan that Goldxtreme had all the necessary documents from the Securities and Exchange Commission and from the Bureau of Internal Revenue.

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Cabusas further enticed Calingayan that she herself invested some money with Goldxtreme and that it had been featured in the television show ‘Kabuhayang Swak na Swak.” 

The complainant then placed an investment of P5,000 in the bank account of Cabusas.

Castro cited Gavino Mariano Tan was implicated in the case because he was the founder of the company;  Romell Tan was the managing partner of the same.

Castro found that probable cause has been established to show that the crime of estafa by false pretenses under Article 315 paragraph 2 of the Revised Penal Code was committed.

Based on the certification issued by the SEC dated Sept. 10, 2015, Goldxtreme Trading Co. has no license to sell securities and its primary purpose is only for wholesale and retail sale of gold, jewelry, fashion accessories, cellphone loads, prepaid cards, 3-pin, scents and other related products.

As such, the company is not allowed to solicit investments from the public as it did not secure prior registration or authority to solicit investments from the said agency as required by law.

However, Castro cited Cabusas, Gavino Tan and Romell Tan should be the ones held criminally liable considering that based on the pieces of evidence submitted, it was Cabusas who actively pursued the complainant in enticing her to invest some money with their company.

Castro cited the fact that the company did not have the license to solicit investment from the public makes them liable for estafa by false pretences under the Revised Penal Code.

On the other hand, the complainant against Melai Casem, Mike Avanecia, Wendelle Uy and Arnold Alberto who was featured in the television show where they gave their personal testimonials about the company was recommended dismissed for lack of probable cause.

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