A woman, who was reportedly engaged in an investment scam, was arrested in Quezon City.
The National Bureau of Investigation (NBI) said the arrested suspect, Lolita Felizze Manalac, enticed her victim to invest P400,000 which would earn interests ranging from 10 to 25 per cent depending on the term/paid-out date.
“Believing the representations of Manalac, the complainant invested a total amount of P400,000 paid on various dates starting from February to April 2023,” the NBI said.
“However, Manalac failed to make good her promise to pay complainant with the agreed pay-out of her investment despite numerous demands,” it said.
Also, the NBI said that the complainant discovered that “the money she gave to Manalac was not really invested and that the suspect has no Securities and Exchange Commission (SEC) registration.”
It said that when Malanac sought another P440,000 additional investment, the complainant sought the help of the bureau which set up an entrapment operation.
After her arrest, the NBI said that Manalac was charged before the Quezon City Prosecutor’s Office with estafa under Article 315, 2(a) of the Revised Penal Code (RPC).