- 15 teachers were victimized by their co-teacher in an investment scam with millions of cash for a rice business
- One of the victims said she gave her trust because there was a notarized memorandum of agreement and the suspect was able to give back the money plus 10% interest
- The victims later on found out that based on NBI records, their co-teacher already has an outstanding warrant of arrest for an estafa case
15 teachers were victimized by their colleague in an investment scam with millions of cash for a ‘bigasan’ [rice] business.
In a story by ABS CBN News, Gail Lobo, a former professor, said that it was in 2016 when she first invested P2 million in the rice business of her friend and co-teacher Nomer Malenab.
Gail said she gave her trust because there was a memorandum of agreement, notarized, and Nomer was able to give back the money plus 10% interest.
“Hindi kami maka-hindi kasi kaibigan namin siya,” said Gail. [We couldn’t say no because he was our friend.]
It was in August 2017 when Nomer said he will send rice to Marawi City and he needed P38 million.
Gail invested again and that time, her mother too, with a combined amount of P5 million.
14 other teachers also invested their money that amounted to a total of P38 million.
But on December 2017, they could no longer make contact with Nomer.
His bank cheques issued also bounced.
It was then that Gail and the 14 others sought help from the National Bureau of Investigation (NBI).
They found out that based on NBI records, Nomer already has an outstanding warrant of arrest for an estafa case.
NBI reminds the public not to easily trust investments, especially if it is ‘too good to be true’ and is talking about millions of pesos.
Watch this video shared by ABS CBN via YouTube: