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Manila Bulletin devider Philippines devider Police nab wanted founder of mass investment scheme in Bacolod

Police nab wanted founder of mass investment scheme in Bacolod

Published Aug 26, 2022 01:47 pm

BACOLOD CITY – After more than a year of hiding, one of the founders of a mass investment scheme here was arrested at his rented house in Barangay Paglaum, Binalbagan, Negros Occidental Thursday, Aug. 25.

CUADRA

Police identified the suspect as Henjie Cuadra, 32.

Cuadra was served an arrest warrant for syndicated estafa with no bail recommended issued by Presiding Judge Maria Lina P. Gonzaga of the Regional Trial Court Branch 42 here dated Aug. 15, 2022.

Police Lt. Col. Alvimar Flores, team leader of the Provincial Intelligence Unit (PIU), said that Cuadra was one of those persons behind the RGS investment scheme which victimized many Bacolodnons and Negrenses.

The Securities and Exchange Commission (SEC) en banc had earlier ordered RGS World Marketing Corp. to immediately cease and desist from engaging in the unlawful or unauthorized solicitation, offer, and or sale of securities until it has filed the requisite registration statement and secured the necessary approval from the SEC.

Complainants said that they invested thousands and even millions of their money to the Bacolod-based investment firm that assured them of a big amount of cash return but they have yet to receive their payout.

Following Cuadra's arrest, Flores urged victims of the investment scheme to file complaints to arrest the other persons behind it.

Cuadra is detained at Binalbagan Municipal Police Station.

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