Operatives from Quezon City Police District (QCPD) Criminal Investigation and Detection Unit (CIDU) arrested a woman for her alleged involvement in a fraudulent investment scheme on Friday, Nov. 3.
Police identified the suspect as Glenda Alvera Navarro, 54, a resident of No. 66 Naranghita Quirino 2-A, Project 2, Quezon City.
According to the police report, the suspect convinced Police Lt. Matthew Bagtas Fajardo and businessman Bryan del Dignadice Chua to invest in their company, NEUWAVE Events and Production, Inc.
Police said the victims were convinced to entrust a total of P51,000,000 to the suspect, lured by promises of attractive returns of their investments.
They also added that the suspect issued post-dated checks, promising the victims of a 50 percent return on their investment and guaranteed interest. However, the checks provided by the suspect were marked as closed accounts.
When the victims learned about the closed accounts, they requested for the return of their invested funds.
However, the suspect demanded an additional amount of P16,000,000 in exchange for their return on investment (ROI). This led the victims to report the incident to the CIDU.
Operatives of the CIDU promptly launched an entrapment operation on Nov. 2., at around 8 p.m., inside a restaurant on Kalayaan Avenue in Diliman, Quezon City.
The operation led to the arrest of the suspect and the recovery of P2,000 in cash, as well as a bank check.
Police said that the suspect will be charged with estafa, robbery, and violation of Batas Pambansa Blg. 22 also known as the Anti-Bouncing Check Law.