Three GSD officers face charges in Antique investment scam
Text size
Three decades after the Marcopper mining disaster devastated Marinduque’s waterways, the province is again pressing the…
Housing is probably the biggest issue affecting people the world over.
Malacañang on Monday called for a more thorough investigation into the questioned flood control projects in Taguig…
The defense on Monday backed the move by senator-judges to exclude a prosecution witness who testified on the firearms…
Three officers of Growth Synergy Development (GSD) have been charged by the National Bureau of Investigation–Antique District Office (NBI-ANDO) for allegedly running a large-scale investment scam that defrauded dozens of residents in the province.
The NBI identified the suspects as Jose Romel Claudio Gallano Chavez, Jose Dioric Gerogene Apaitan Chavez, and Annaliza Gorero Agustin Javier. They were arrested without a warrant and brought to the Antique Provincial Prosecutor’s Office for inquest proceedings.
The three are facing complaints for syndicated estafa under Article 315 of the Revised Penal Code in relation to Presidential Decree 1869, as well as violations of the Cybercrime Prevention Act of 2012 (Republic Act No. 10175) and the Securities Regulation Code (Republic Act No. 8799).
Investigators said the suspects lured students and barangay residents to invest in GSD by promising high returns in a short period of time. The group allegedly used a computer-based platform where members could monitor accounts, perform simple online tasks, and earn commissions and bonuses by recruiting new investors.
To appear legitimate, GSD operated from an office that displayed business permits, Department of Trade and Industry registration, and Bureau of Internal Revenue documents.
Authorities added that Jose Romel Chavez, who also works as a teacher at St. Anthony’s College, used his position to persuade students to join the scheme. Victims were reportedly given small initial payouts to build confidence before the system eventually collapsed, locking them out of their accounts.
The NBI clarified that GSD did not hold a secondary license from the Securities and Exchange Commission (SEC), which is required for companies soliciting public investments.
On 30 August, about 50 investors filed complaints before NBI-ANDO, endorsing the suspects for prosecution. Officials later confirmed the number of complainants has risen to at least 95.
The three underwent inquest proceedings on 1 September at the Provincial Prosecutor’s Office in San Jose and are currently detained at the NBI-ANDO facility.
