LA TRINIDAD, Benguet July 13 – The live in partners and operators of the dissolved ADS HUB Ventures.Com were arrested by detectives of the Criminal Investigation and Detection Group – North Central Luzon Office in their hideout in Quezon City following a battery of syndicated estafa charges filed against them over the past several months.
Senior Superintendent Jimmy Catanes, regional chief of the CIDG-NCLO, identified the arrested ponzi firm operators as Jericho Estrella alias Mahamad Jaafar Estrella, an information technology expert from Metro Manila and Violet Grace Molina, of legal age, his live in partner and a native of Zamboanga City.
Estrella and Molina were arrested by virtue of a warrant issued by Judge Jenifer Humiding of the Regional Trial Court (RTC) Branch 63 based here for syndicated estafa with no bail recommended.
The live in partners where initially charged by ten individuals who reportedly invested to the ponzi firm a total amount of P7 million with a promised interest of 30 percent monthly.
According to him, the ponzi firm operators were able to hoondwink more or less 50 individuals into investing more than P30 million to their company that started its operations last December and suddenly folded up in the middle of February this year without justifiable reasons.
Catanes appealed to the victims of the ponzi firm to file the necessary charges against the arrested suspects so that they will be made to suffer the consequences of their illegal acts of defrauding innocent individuals of their hard earned money.
Estrella and Molina are now detained at the Benguet provincial jail awaiting the outcome of the hearings of the cases that were filed and will be subsequently filed against them.