Estafa post dating check
In her account of the events, Estella claimed that she was advised by Carmencita Chan (Carmencita), a Multitel counselor, to invest in the company through the One Heart Multi-Purpose Cooperative (One Heart).As Carmencita explained to her, One Heart was an agent of Multitel, which could receive investments in the latter’s behalf.Gladina then made a more attractive offer, promising an increased monthly earning of eight to twelve percent (8%-12%) of the investments, luring Rolando to invest a total of Php3,200,000.00 in Multitel.A receipt was issued for every placement that Rolando made, together with checks personally signed by Baladjay, representing his principal investment.Henry then became suspicious, prompting him to consult with the SEC where he was informed that Multitel is a scam, and that a Cease and Desist Order had already been issued against it for soliciting funds from the public without a valid license.Henry then confronted Gladina, only to be redirected to Baladjay’s then counsel.However, in October 2002, no interest income was deposited to Estella’s account.
When Rolando took to the stand, he narrated that sometime in February 2001, his neighbor told him about Multitel, a company which allegedly pays its investors an interest income of at least five percent (5%) per month.
By September 2002, Multitel started to have problems with the SEC.
Consequently, the investors demanded from Yolanda that she return their money placements.
Carmencita also informed Estella in one of their meetings at One Heart’s office at the Enterprise Building in Makati City that Multitel is a local subsidiary of a New York-based telecommunications company.
Carmencita later introduced Estella and her husband to accused Manolito Natividad (Manolito), who confirmed the information about Multitel.
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However, sometime in October 2002, when he had yet to receive his interest income for the month, Rolando learned that Baladjay was under investigation.