NBI nabs former bank employee for estafa

A former bank employee was arrested by agents of the National Bureau of Investigation for allegedly defrauding a brokerage firm by misrepresentation.

The NBI identified the arrested suspect as Ryan Arellano, 24, of 1312 Int. III-A. Mabini St., Caloocan City.

Investigation conducted by the NBI’s Counter Intelligence Division (CID) headed by head agent Ferdinand Lavin showed that Arellano lured Harmy Pasco to obtain a P500,000 business loan from the PSBank Herrera branch in Makati City.

According to the NBI, Arellano introduced himself to the victim as an authorized representative of the bank.

The NBI said Arellano initially asked for P50,000 to "facilitate" the processing of the loan. When the victim later inquired with the bank on the status of her loan, she learned that the bank did not receive her loan application. It was at this point that she sought the assistance of the NBI.

On August 23, Pasco asked the suspect to meet her at a fastfood inside a mall in Ermita, Manila. She told Arellano that she will give him P2,500 as additional payment for the processing of her loan.

NBI agents arrested Arellano as soon as he touched the marked money from the victim. The NBI said Arellano’s hands tested positive for fluorescent powder from the marked cash used in the entrapment operation.

A background check conducted by the NBI also showed that Arellano is involved in a string of estafa cases with two outstanding warrants of arrests lodged at the Manila Regional Trial Court and at the Manila Metropolitan Court.

The NBI has filed charges for violation of Article 315 of the Revised Penal Code of the Philippines (estafa through false pretenses) against the suspect before the Manila City Prosecutor’s Office. – Mike Frialde