QUEZON CITY – Police authorities have apprehended Christian Cunanan, a man implicated in an investment scam.
The suspect enticed victims with a promise of a 25 percent monthly interest rate on their investments, asserting that the funds would be utilized for trading and the profits would be gradually returned to the investors. It is reported that the suspect succeeded in swindling a total amount of P100 million.
Man Arrested in Quezon City for Allegedly Swindling Over P100 Million in Investment Scam
Cops Arrest Man in Quezon City Over Alleged Involvement in Investment Scam
A man in Quezon City has been arrested following allegations that he ran off with over P100 million in an investment scam.
The suspect, Christian Cunanan, is accused of luring victims with promises of high returns, offering a 25 percent monthly interest rate on their investments. However, it has since become evident that the entire scheme was a scam.
Cunanan allegedly claimed that he would utilize the invested funds in trading and gradually return the profits to the investors. Two warrants of arrest have been issued against the 42-year-old suspect for cases of estafa (fraud) and violations of national laws related to bouncing checks.
Those who fell victim to the scam claim to have lost over P100 million. Cunanan had assured them of substantial monthly interests on their investments.
“Malaki nga yung interes katulad ng 18-25 percent sa isang buwan kaya nahihikayat niya yung mga taong mag-invest. Iniinvest nila sa mga properties at travel agencies para lumago ang pera,” said Project 4 Police Station Commander Police Lt. Col. Jake Manguerra.
One victim recounted that he had met Cunanan within the freediving community. Supposedly, four friends, including the victim, were convinced by the suspect to invest P30 million in what he claimed would be a beach property project in Aurora and Nueva Ecija.
Cunanan provided them with checks, but it turns out that more than 70 of these checks bounced.
“Yun ang masakit e, sama sama yung pera naming ng pamilya ko eh, nanay ko, kapatid ko na 7 years nag-abroad na pang roll-over money niya yun, inipon niya yun for how many years,” one of the victims said.
Cunanan has issued an apology and stated that he is doing his best to repay the investments, however gradually.
In a previous report, a male netizen successfully prevents alleged scammer “naglakad si manang papalayo”
“Humihingi po ako ng tawad ng paumanhin, pinipilit ko naman yung makakaya ko talaga na maibalik yung puhunan. Asahan niyo na maibabalik naman yung puhunan kahit paunti-unti mahirap kasi talaga yung market ngayon,” Cunanan said.
The social media users expressed their reactions to the scammer:
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