Couple in P100M scam with affluent victims arrested
BULAKAN, BULACAN—Police here arrested a couple who were allegedly running a multi-million peso investment scam and preying on known personalities.
Col. Grace Naparatto, this town’s police chief, said police arrested Eduardo Rizabal, 45 and his wife Maureen Rizabal, 38, residents of Barangay San Jose, for seven counts of estafa.
Naparatto said police served a warrant of arrest issued by a municipal trial court against the suspects who reportedly amassed over P100 million from victims who are mostly affluent families and local politicians.
Investigators said the victims were lured to invest in mall-based boutiques and were promised a 10-percent return of investment and expensive freebies. Carmela Reyes-Estrope/TSB
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.