LUCENA CITY, Quezon – Nine officials of an investment group have been charged by the National Bureau of Investigation (NBI)-Lucena District Office with 40 counts of syndicated estafa after collecting millions of pesos in contributions from their so-called “investors” in their “paluwagan” scheme in Quezon.
VICTIMS file charges of syndicated estafa against nine officials of an investment group before the provincial prosecutor’s office in Infanta, Quezon. (Photo via Danny Estacio) Based on the recommendation of Bernard de la Cruz, agent-in-charge of NBI-Lucena, nine administrators of the group known as “Team Payaman” were charged before the provincial prosecutor's office in Infanta, Quezon with violations of Article 315, Paragraph 2 of the Revised Penal Code in relation to Presidential Decree No. 1689 and violations of the Securities Regulation Code under Republic Act No. 8799. Forty victims lodged complaints with the NBI and claimed a total of P31,568,861 was taken from them. They said that they made contributions ranging from P50,000 to P2 million in eight months. The suspects were identified as Grace Gamase, 40; Kimberly Claire Peñamante Sucuano, 22; Marialyn Quirrez-Peñaojas, 34; Nielyn America-Vargas, 40; Lorelie Gamase-Armada, 42, all residents of Infanta; and Marian Hayno Avellano, 24; Eva Suco, Ronabelle Beguia-Cirineo, and Rica Rutaquio, all residents of Real, Quezon. The investment scam took place from May 2022 to January 2023 in Infanta. According to the NBI, the estafa or swindling case was established through the organization of the administrators of Team Payaman who operated a local investment scheme called "paluwagan" or “tornohan.” Using social media and personal invitations to acquaintances, they convinced people to join their paluwagan and collected money from members in exchange for high returns which they claimed would surpass what certain financial institutions and banks offer. The administrators collected member contributions through GCash, bank transfers, and personal contributions. To entice potential members and avoid suspicion of being a scam, the group posted photos on their social media accounts showing large amounts of money, expensive jewelry, new cars, and new houses that they claimed their investors or those joining the paluwagan could acquire once their investment was returned. According to the Team Payaman scheme, there would be a monthly payout and a member would receive payment determined through a raffle. The NBI stated that conspiracy was observed among the administrators of the organization as they formed and signed an agreement stating that they would run the organization. The agreement also contained internal rules and guidelines that members must follow as well as penalties for violations within the association. According to NBI documents, once a target investor becomes a member, they would immediately receive a small amount of alleged interest to make their participation appear as a legitimate investment. However, the victims claimed that after several months, the payouts stopped, and the administrators failed to return their supposed investments and principal contributions. The victims also noticed the extravagant lifestyle of the administrators, with some of them building beautiful houses, buying new cars, and purchasing expensive jewelry. This prompted the victims to approach the NBI. It was also discovered that they lacked the necessary licenses and documents from the Securities and Exchange Commission (SEC) and was not registered. On June 15, a copy of the complaint was received by the senior assistant provincial prosecutor at the Hall of Justice in Infanta.