In line with the relentless campaign of the National Bureau of Investigation (NBI) against illegal activities, operatives of NBI-Anti-Fraud Division (NBI-AFD) arrested five persons in Quezon City for illegal investment activities.
NBI Officer-in-Charge Director Eric Distor identified the suspects as Bernie Limpiada, Marvin Ojeda, Glory Pillora, Rogelio Fambuena Jr., and Sison Inocencio.
Distor said the case stemmed from the report of a walk-in informant regarding an alleged investment scam perpetrated by Agri-wealth Farm Ventures Inc. owned and operated by the suspects.
The informant and his associate, accompanied by the officials of Anti-Red Tape Authority, reported to NBI-AFD the illegal investment activities of the suspects.
According to the informant, AGRI-WEALTH was offering investment to the public with the promise of 160 percent return of investment within 100 days.
The suspects promised investors a daily profit ranging from 1.6 percent to 2.5 percent of the invested amount.
For each direct referral or recruit that one brings to the company, he gets an additional 5 percent of the invested amount of his referral and additional 2 percent for the second level recruits and 1 percent for the succeeding levels of recruit until the 10th level.
Acting on the information, verification was made with the Securities and Exchange Commission and it was revealed that AGRI-WEALTH was neither registered as a corporation nor was it issued a secondary license as a lending company, broker, or dealer of securities.
Moreover, AGRI-WEALTH has not filed nor has any pending application for a secondary license with SEC.
With these, an entrapment operation was hatched on July 21, 2021.
The informant and Limpiada arranged a meet up at a restaurant in a mall in Quezon City for the scheduled submission of the collected investment money.
