Two arrested for 'mango tree' investment scam


Posted at Jun 11 2013 12:50 PM | Updated as of Jun 11 2013 08:50 PM

MANILA – Two people were arrested Monday in Pasig City due to estafa charges.

Josefa Pillarina and Wilma Siason, executives of Good Harvest Orchards Marketing Corporation, were arrested by members of the Eastern Police District Intelligence Unit Monday night.

The two are facing charges of estafa after their company allegedly duped people into investing their money in mango trees at a plantation in Bataan.

The company supposedly promised an income of P30,000 per tree after five years.

"Natapos na iyung five years, sabi six years naman, tapos 10 years, tapos no guarantee of return of investment na," said Vilma (not her real name), a complainant in the case.

Police said the group ran a sophisticated operation, victimizing investors from various parts of the country such as Quezon Province, Pampanga and Bulacan.

ABS-CBN News tried to get a statement from Pillarina, but she declined to comment.

Two more officials of the company, Rafael Lopez and lawyer Jaime Santiago, are now the subject of a police manhunt.

Police are calling on other victims of the scam to come forward and help build a case against the suspects in the investment scam. - report from Raffy Santos, ABS-CBN News; ANC