A 41-year-old actress and businesswoman named ‘Neri’ was arrested on November 23 in Pasay City for alleged involvement in estafa and violations of the Securities Regulation Code, according to the Southern Police District.
The arrest took place at a basement convention center inside a mall, following the issuance of a warrant for syndicated estafa under Presidential Decree 1689. The law imposes heavier penalties for estafa committed by a syndicate of five or more individuals, particularly when it involves misusing funds solicited from stockholders, cooperative members, or the general public.
The actress also faces 14 charges for allegedly violating Section 28 of Republic Act 8799, which governs the registration and regulation of brokers, dealers, and other securities-related professionals.
Authorities have withheld the actress’s identity.
