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