Couple Ronald Rivera and Shielan Criscel Rivera, both 34 years old, were arrested in Calintaan, Occidental Mindoro for their involvement in a P5 billion investment scam. Also caught with them was their secretary Apply Joy Templo, 29 years old, who was first arrested in Balayan, Batangas. Templo is Top 5 on Batangas' most wanted list due to syndicated estafa case.
According to Major Charlie Reyes of the Cuenca Police, they have been monitoring the couple's movements since the arrest warrant was confirmed. Despite complaints against them in Batangas, they were able to build a batching plant in a remote area in Mindoro. They used it as a daytime office, and continued their operations there.
The couple allegedly lured investors from Batangas (especially Lipa and Cuenca), Metro Manila, and Northern Luzon. The victims were promised huge profits, such as P500,000 that would turn into P1 million within a few days. To convince investors, they were even given a tour of the plant and shown documents such as purchase orders and contracts. But later, the investment was not returned and the checks bounced.
According to Atty. Francis Sabili, legal counsel for some of the victims, the business initially appeared legitimate because it was presented as a real batching plant. However, it later emerged that it was just a scheme to collect millions of pesos. Many of the victims were businessmen, local officials, and ordinary citizens. Based on the documents submitted, the total amount of money defrauded from investors could reach P5 billion.
Currently, three more relatives of the couple are being sought by the police because they are believed to be accomplices in the scam. The case filed against Ronald, Shielan, and Apply Joy is without bail. The suspects refused to give a statement to the media. The investigation is still ongoing, especially since the batching plant in Mindoro has still has projects in progress.
