FrancSwiss execs face syndicated estafa raps

The National Bureau of Investigation (NBI) on Friday afternoon filed syndicated estafa cases before the Department of Justice (DOJ) against 27 officers and recruiter-investors of an alleged international pyramiding investment syndicate for allegedly duping their investors of more than P3 million.

Regional Director Ruel Lasala, of the NBI-National Capital Region (NCR), said the complaint filed against the 27 respondents from FrancSwiss Investment was based on the complaints filed by 41 victims who poured a total of $75,000 (P3.4 million) into the scheme. Syndicated estafa is a non-bailable offense.

Lasala said the complainants came from Metro Manila and Mindanao who tried but failed to get their money back.

The NBI-NCR included six other names taken from the FrancSwiss “virtual office” website such as Michael Mansfield, chief financial officer; Kurt Sandelman, risk management team leader; Rupert Benedict Da Vinco, investment team leader; Julia Rodriguez, international banking team leader; Hector Willem Sidberg, marketing and international affairs; and Fernando Muñoz, customer service leader.

Also named respondents in the case were those connected to the FrancSwiss Asia Pacific Region (APR) office such as Roger Smith, chief operation officer; Bensy Fong, system operation officer; Raymond Chua, marketing officer; and two secretaries who also act as collectors, identified only as Mike and Michelle.

Filipinos who are alleged uplines or recruiter-investors of FrancSwiss are Eleazard Castillo, Angelina Angeles, Jose Narciso Terrado III, Reynante Lascona, Mike Eugenio, Emar Ricalde, Enrique Ballano, Imelda Pateneo, Hector Balaan, Francis Garcia, Arvin Legaspi, Russel Climaco, Liza Peril, Edwin Cendaña, Terry de Guzman, and Rozmarieweng, Sanchez who uses the alias Rowena Gabriel.

“We would conduct a record check on the names of these Filipino uplines and see if they have addresses. Most likely, these people applied for an NBI clearance or police clearance,” Lasala said.

The NBI-NCR is coordinating with the bureau’s Interpol Division to locate the foreign nationals named as respondents to the case.

FrancSwiss came to the country in March. Three months later, the NBI started receiving complaints and apprehended Castillo.

Interested investors were asked to place a minimum investment capital of $1,000 (P45,000). In return they were reportedly promised a daily interest rate of 4.5 percent and an additional 10 percent commission called “e-points” for every person they recruit.

“FrancSwiss Investment immediately became popular in all walks of life specially to the networking industry which almost crushed other networking groups because of its promising returns on investment,” Lasala said.

Case officer Agent Manny Fayre Jr. said FrancSwiss’ modus operandi was to make investors believe their money would be placed in affiliated businesses such as an overnight casino and pawnshop, foreign exchange trading, and mutual fund.

Fayre said the scam was reportedly sustained by the continuous flow of fresh investment but once its recruiters stop collecting, the system would collapse.

“FrancSwiss (has) indeed brought pyramiding to a new level by going on-line, which enabled it to reach and defraud more people. Unlike other investment schemes that put up offices,” Lasala said.