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A local court has convicted 'pyramiding queen' Rose Baladjay and husband Saturnino Baladjay for the multi-million "Multitel" investment scam.

Baladjay and her husband led Multinational Telecom Investors Corp., (Multitel) which lured investors with promises of high returns back in early 2000.

Baladjay and her husband are facing seven years imprisonment for each of the 65 counts charged against them for selling unregistered securities to the public.

They should also pay P8 million to their victims.