LA TRINIDAD, Benguet – Police operatives continue to serve issued warrants of arrest against a detained operator of a Ponzi firm which had been fooling willing investors into investing their money into their ponzi scheme that resulted to the closure of their company last March.
Police authorities identified the suspect as Villamor Bedsing Balawag, former operator of the PC Wellness Trading who was served a warrant issued by Judge Jenifer Humiding of the Regional Trial Court (RTC) Branch 63 for the crime of estafa.
Balawag is currently detained at the Benguet Provincial Jail after he was arrested several weeks ago for the crime of syndicated estafa with no bail recommended for his temporary liberty.
PC Wellness Trading was said to have divested more than P140 million from at least 130 individuals since its operation last October 2014 until its closure last March this year.