Brains in P3.5 billion scam arrested

MANILA, Philippines — A man who established a company that reportedly scammed around 3,000 investors and stole at least P3.5 billion was caught on Wednesday after more than six years in hiding.

Arnel Gacer, 39, was presented to members of media on Thursday by National Capital Region Police Office chief Maj. Gen. Vicente Danao Jr. and Quezon City Police District director Brig. Gen. Danilo Macerin.

Gacer; Kenneth Abanto, 40, and David dela Cruz, 40, were arrested in a restaurant in Quezon City at around 11 p.m. on Wednesday.

A 9mm pistol, a .45 caliber pistol, a 12-gauge shotgun, assorted identification and ATM cards, a bank passbook, a passport and P500,000 were confiscated from the suspects, police said.

The NCRPO said Gacer, founder of One Dream Global Marketing, reportedly duped thousands of people into getting involved in a Ponzi scheme.

Gacer is the subject of 14 arrest warrants for syndicated estafa, estafa and violation of the Securities Regulation Code from various courts in Quezon City, Balayan and Lipa City in Batangas, Naga City in Camarines Sur, and Pangasinan.