Ponzi scam brains nabbed after 7 years

MANILA, Philippines — After almost seven years on the run, the police finally collared in Quezon City Arnel Gacer, 39, the president of One Dream Global Marketing Inc., which was tagged in a Ponzi scheme that duped thousands of investors of at least P3 billion.

National Capital Region Police Office chief Maj. Gen. Vicente Danao Jr. said Quezon City policemen served a warrant against Gacer while he was in a restaurant on Panay Avenue around 11 p.m. on Wednesday.

Gacer has 13 other pending warrants of arrest issued by different courts since 2015, all of which charged Gacera for estafa or violation of the Securities Regulation Code.