NBI nabs suspect in P100-M stock market scam
Agents of the National Bureau of Investigation (NBI) have apprehended a former employee of the Philippine Stock Exchange ( PSE) who allegedly swindled investors of over P100 million.
The NBI Anti- Organized and Transnational Crime Division ( AOTCD) arrested former PSE assistant head for market education Jose Cecilio Peñaflor at his residence in Kamuning, Quezon City on Wednesday.
Dennis Siyhian, NBI-AOTCD executive officer, said yesterday that a court in Quezon City issued the arrest warrant against Peñaflor last October.
“A case for syndicated estafa has been filed before the court, hence the issuance of the arrest warrant,” Siyhian said.
Investor Joyce Marie Jao filed the complaint before the Department of Justice on Feb. 19 against Peñaflor, who allegedly failed to pay the P8-million proceeds from her investment.
She claimed that Peñaflor introduced himself as a broker for CAP-M Consultancy Co., promised more than half return of her investment, or around P8 million, including the principal.
Jao said in her affidavit that she purchased stocks of ABSCBN Corp. worth P4.7 million through CAP-M Consultancy.
Peñaflor even enticed Jao to invest an additional P8.5 million worth of stocks that ABS-CBN was allegedly selling and asked her to pay P500,000 as down payment, she alleged.
The payment was made during an entrapment operation conducted by NBI agents last Feb. 16, wherein Peñaflor was initially arrested.
The NBI got a report from the Securities and Exchange Commission (SEC) that Peñaflor did not have any authorization to collect investment funds from the public.
Peñaflor was charged with syndicated estafa and violation of the anti-bouncing checks law, because the suspect allegedly issued checks worth P6 million to Jao that all bounced.
The payments were supposed to be done by installment from January to May this year.
Days after the preliminary investigation, state prosecutors released Peñaflor pending further investigation.
Siyhian said that more than 20 other complaints have been
filed against Peñaflor before the NBI.
The complaints were filed before the Quezon City prosecutor. The complaint also included Peñaflor’s brother-in-law, who allegedly duped investors of P12 million.
The STAR reported in late August that Peñaflor allegedly stole P300,000 from an event he organized in three different hotels in Quezon City, days after his release from police detention on the estafa charges.