Couple Ronald and Shielan Criscel Rivera were arrested in Calintaan, Occidental Mindoro for their involvement in a major investment scam worth P5 billion. They were accompanied by their secretary Apply Joy Templo, who was previously arrested in Balayan, Batangas. The three have arrest warrants for syndicated estafa.
According to Maj. Charlie Reyes of the Cuenca Police, the couple have been under surveillance for a long time after the warrant was issued. Despite the complaints, they were able to build a batching plant in Mindoro which is also used as a day office. They reportedly started operations in 2021 and offered investments in the aggregates and batching plant business.
Many businessmen, ordinary citizens, and a councilor from Batangas, Metro Manila, and Northern Luzon were victimized. They were promised that their income would double immediately — for example, a P500K investment would return P800K to P1M in just a few days. But after several transactions, the investment was not returned and the checks bounced.
According to the victims' lawyer, the suspects presented fake documents such as purchase orders to make people believe that the business was legitimate. Currently, three relatives of the couple are still being sought by the police. No bail has been granted for their temporary freedom.
