An actress named Neri has been arrested for alleged estafa and violation of the securities regulation code.
According to a statement from the Southern Police District, the 41-year-old actress and businesswoman was served the warrant of arrest at a basement convention center inside a mall in Pasay City on November 23.
She is facing an estafa case in relation to Presidential Decree 1689,
which increases penalty for estafa “committed by a syndicate consisting of five or more persons formed with the intention of carrying out the unlawful or illegal act, transaction, enterprise or scheme.”
Syndicated estafa results in the misappropriation of money contributed by stockholders, members of cooperatives or associations, or solicited from the general public.
She is also facing 14 counts of violation of Section 28 of the Republic Act 8799 or the Securities Regulation Code, which includes provisions on registration of brokers, dealers, salesmen, and other associated persons.
