• Headlines
  • City/Region News
    • Covid-19 Advisory and Updates
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business and Livelihood
    • Education, Arts & Culture
    • Environment and Disaster Management
    • Science, Health, and Welfare
      • covid-19 advisory and updates
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
    • Sports (Home)
    • Sports (Special Feature)
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
HERALD EXPRESS | News in Cordillera and Northern Luzon
ADVERTISEMENT
  • Headlines
  • City/Region News
    • Covid-19 Advisory and Updates
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business and Livelihood
    • Education, Arts & Culture
    • Environment and Disaster Management
    • Science, Health, and Welfare
      • covid-19 advisory and updates
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
    • Sports (Home)
    • Sports (Special Feature)
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
  • Headlines
  • City/Region News
    • Covid-19 Advisory and Updates
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business and Livelihood
    • Education, Arts & Culture
    • Environment and Disaster Management
    • Science, Health, and Welfare
      • covid-19 advisory and updates
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
    • Sports (Home)
    • Sports (Special Feature)
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
HERALD EXPRESS | News in Cordillera and Northern Luzon
No Result
View All Result
Home City

Suspect in invest scam nabbed

Dexter A. See by Dexter A. See
May 18, 2015
in City
Reading Time: 2 mins read
0 0
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

BAGUIO CITY  – The operator of a Laguna-based ‘ponzi firm’ that reportedly victimized thousands of willing investors in the different parts of Luzon was successfully arrested by combined police operatives and intelligence agents for two counts of estafa in San Fernando City, La Union over the weekend.

Police authorities identified the arrested ‘ponzi firm’ operator as Lorenzo Vargas, of legal age, and the operator of the Calamba-based New Business Opportunities (NBO) that have various franchises all over the archipelago.

Probers described the company had been enticing willing individuals to invest their hard earned money with a promise of high interests ranging from 20 to 30 percent every month.

RelatedPosts

Baguio solid waste management committee told to execute functions

City prosecutor’s office reports 100 disposition rate

Closer Filipino, Chinese bond assured

The company reportedly victimized innocent victims from Batangas, Laguna, Pangasinan, Rizal and the different parts of the National Capital Region (NCR).

It can be recalled that the NB|O reportedly stopped paying the interests and returning the money of their thousands of investors sometime in August last year and that the operator reportedly went on hiding in the different parts of Luzon over the past several months.

Vargas was arrested by virtue of separate warrants of arrest issued by Judge Cecilia Corazon Dulay Archog of the city’s Regional Trial Court (RTC) Branch 6 for two counts of estafa after victimizing several residents of the city using the alleged questionable scheme offering high interests for investments without a sufficient proof of source of income to grant such high interests and return the investments of members.

After learning about his arrest in the city, hundreds of individuals who were scammed by the NBO flocked to the city and confronted the suspect with the threat that they will file battery of syndicated estafa cases against him if he cannot return their investments the soonest.

In Tanaoan, Batangas alone, some 3,000 individuals were reportedly hoodwinked by the company into investing in the ‘ponzi firm’ that carted away their hard earned money.

ADVERTISEMENT

However, Vargas belied having ran away with the hard earned money of the investors, saying that they were able to get the return of their money through the various products given to them and that they just lost their investments after the company wrongly invested the money of the people in an on-line gaming.

Vargas is now detained at the Baguio City jail pending the decision of the court on the estafa charges filed against him.

By Dexter A. See

ShareTweetSend
ADVERTISEMENT
Previous Post

An (almost) advisory to all borrowers

Next Post

Councilor killed, 2 hurt in twin Abra shooting incidents

Dexter A. See

Dexter A. See

Herald Express is a news organization based in Baguio City that has a weekly publication and an online news portal. The newspaper is circulated in the different provinces of Northern Luzon. The name of the fastest-growing publication in town is coined from the word ‘quick messenger’ which is self-explanatory. Our motto ‘we deliver the balanced news that matters to you’ was conceptualized to make it clear to our readers what to expect from our new writers and columnists.

Related Posts

Baguio gains headway in search for solutions to solid waste problem

Baguio solid waste management committee told to execute functions

by Dexter A. See
January 28, 2023
0

City officials urged the Baguio Solid Waste Management Committee to intensify the execution of its functions and responsibilities pursuant to...

City prosecutor’s office reports 100 disposition rate

City prosecutor’s office reports 100 disposition rate

by Dexter A. See
January 28, 2023
0

Prosecutor Genevieve Ayochok of the City Prosecutor’s Office reported a one hundred disposition rate on all the cases filed before...

Closer Filipino, Chinese bond assured

Closer Filipino, Chinese bond assured

by Dexter A. See
January 25, 2023
0

The Filipino-Chinese Chamber of Commerce and Industry, Inc. (FCCCII) assured closer bond between the Filipino and Chinese communities in the...

Next Post

Councilor killed, 2 hurt in twin Abra shooting incidents

Former OFW shot dead inside Baguio jeepney

NHCP letter merely an advise – NCCA

ADVERTISEMENT

Recent News

WAR ON DRUGS PUSHED

Cayetano congratulates EJ Obiena, renews call to revitalize grassroots sports program

January 28, 2023
Floyd Mayweather: The Greatest?

Baguio family commended for outstanding performances in triathlon events

January 28, 2023
SEC contributes P2 billion to combat COVID-19

SEC revokes Fast Coin lending license, corporate registration

January 28, 2023
Tudlong wins as Bontoc mayor

Mayor Tudlong delivers 1st SOMA, solicits continuous support of all stakeholders

January 28, 2023
ADVERTISEMENT
HERALD EXPRESS | News in Cordillera and Northern Luzon

Herald Express is a news organization based in Baguio City that has a weekly publication and an online news portal. The newspaper is circulated in the different provinces of Northern Luzon. The name of the fastest-growing publication in town is coined from the word ‘quick messenger’ which is self-explanatory.

Follow Us

Search

No Result
View All Result
  • Headlines
  • City/Region News
  • Sectoral news
  • Opinion
  • Sports
  • Other sections
  • Ads & Notices
  • About Us

© 2022 Baguio Herald Express - Website Design by Neitiviti Studios.

No Result
View All Result
  • Headlines
  • City/Region News
    • Covid-19 Advisory and Updates
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business and Livelihood
    • Education, Arts & Culture
    • Environment and Disaster Management
    • Science, Health, and Welfare
      • covid-19 advisory and updates
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
    • Sports (Home)
    • Sports (Special Feature)
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us

© 2022 Baguio Herald Express - Website Design by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT

Add New Playlist