Woman in large-scale investment fraud nabbed in QC

/ 11:01 AM May 28, 2018

PNP Chief Director General Oscar Albayalde presents to the media Margarita Huang (in orange t-shirt), the alleged scammer involved in large-scale investment fraud that victimized hundreds of individuals. She was arrested last week on three warrants of arrest for 12 accounts of estafa. (INQUIRER.net/Frances Mangosing)

A suspected scammer, who defrauded millions of pesos from investors, was arrested by police last week in Quezon City.

The Criminal Investigation and Detection Group (CIDG) arrested Margarita Huang after receiving complaints of defrauding hundreds of individuals for purported investments. She was presented by Philippine National Police chief Director General Oscar Albayalde at Camp Crame on Monday.


Complaints were also filed against Huang’s husband Gary, daughter Nicole, son Conrad, and aide Marivic Ifurung.

Huang’s companions posted bail last year while her daughter Nicole was reportedly in hiding in New Zealand.


Huang was arrested at a condominium in Brgy. Sto Cristo, Quezon City last week on three warrants of arrest for 12 accounts of estafa.

“Margarita Huang also known as Irma Pascual is a key suspect in a celebrated case of syndicated estafa that allegedly defrauded hundreds of millions from unsuspecting investors in a Ponzi scheme involving a purported lending business,” Albayalde said.

“The cases stemmed from at least 423 ‘bouncing checks’ amounting to P130.5 million that she and her husband Gary allegedly issued to 423 investors in her purported lending business back in 2015,” he added.            /kga

Read Next
Don't miss out on the latest news and information.
View comments

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.

TAGS: Business, Crime, Estafa, fraud, Investment, Lending, Margarita Huang, PNP‎, Quezon City, Scam
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.