NBI nabs couple linked to pyramiding scam suspect

Agents of the National Bureau of Investigation (NBI) have arrested in Bulacan a couple, tagged as associates of pyramiding scam queen Rosario Baladjay of the Multitel group which allegedly duped numerous investors of millions of pesos.

NBI Director Reynaldo Wycoco said suspects Mario Mariano and his wife Remy are now locked up at the NBI detention cell. The couple faces large scale estafa, a non-bailable offense.

Wycoco said the two were arrested by virtue of a warrant of arrest issued by Makati City Judge Ricardo Rosario of Regional Trial Court Branch 62 for large scale estafa.

Investigators said the couple had been in hiding after pyramiding scam was exposed last year when investors started going after the officers of the firm.

The couple claimed they should not be held liable because they did not benefit from investors’ money.

Baladjay, who has been locked up at the Makati City jail for the pyramiding scam, is believed to have collected P20 billion from investors.

Authorities said groups involved in pyramiding schemes have collected an estimated P123 billion from investors.