DAVAO CITY — This is a case of brother versus brother.
The National Bureau of Investigation (NBI) on Monday arrested a businessman who victimized his own fraternity brothers in an investment scheme by enticing them to put up money for a shop and promised each investor a 40 percent monthly interest.
Atty. Arcelito Albao, regional director of NBI XI, identified the suspect as Jovanni Uy Faustino, a member of the Fraternal Order of Eagles who has reportedly raked about P20-million from his “Kuya” from the same fraternal order.
Because of the brotherhood bond, Albao said, fellow “Kuya”, an endearment among members, invest from P200,000. “Some put up more than P200,000. There are those who put up P1-million.”
Faustino victimized around 20 people including six police officers who are also his “Kuya”. “Most of them received once or twice and after that nothing. Some started to invest during the last wo years. Aside from that, many complainants appeared in our office to file complaints,” he added.
“Some received their first month interest while others did not. The scheme, according to Albao, is that Faustino invite them as shareholders. “He will open a store, for example, a store at Roxas night market and after how many days, the store will close and again, he will invite more investors.”
Because of his failure to provide the agreed interest, Precious Viloria, a fellow member of Eagles complained to the NBI and agreed to meet up with Faustino on May 8, along with seven other Kuyas who agreed to add money for their investment.
The NBI, Albao said, is ready to file charges of Syndicated Crime and Large Scale Estafa against Faustino. – ezc
