Oro ex-vice mayor faces raps for involvement in 'investment scam'

CAGAYAN DE ORO. Former Cagayan de Oro vice mayor Caesar Ian Acenas. (SunStar Cagayan de Oro File)

FORMER Cagayan de Oro City vice mayor Caesar Ian Acenas was arrested by the Criminal Investigation and Detection Group (CIDG) in Central Visayas Tuesday night, October 22, for his alleged involvement in "double your money within 45 days" investment scam.

Acenas, 43, was arrested with four others identified as Ma. Esperanza Makinano, 34, from Lapasan, Cagayan de Oro City; Arjun Gumban, 26, from M'lang, North Cotabato; Ailyn Hope Matulac, 41, from Green Meadows, Tugbok, Davao City; and Adjetor Daya Jr., 35, from Purok 6, Tugbok, Davao City.

Police Major Edwin Lacostales, CIDG-Mandaue City chief, said more than 10 victims of the investment scam from Mindanao came to their office to complain about the alleged investment firm Phoenix EA Holding International Inc.

Lacostales said the combined amount the victims invested reached to P400 million.

A surveillance on the suspects was done since last week but it was only on Tuesday, October 22, when they caught the victims holding transactions.

Acenas reportedly denied his involvement in the investment scam, saying he was only an investor.

"Pero nahuli talaga namin sa entrapment na nakikipag-transact siya (But he was really caught transacting with the victim)," said Lacostales.

Acenas and the four others are facing estafa charges, a bailable offense. They are currently detained at the CIDG-Central Visayas office in Cebu City.

Councilor George Goking, chairperson of the committee on trade and commerce, said the arrest of the persons behind the "investment scam" is a stern warning to persons who are still engaging in similar business.

"I congratulate CIDG for bringing justice to the victims. This only means the law is working. This is a warning to the scammers, you better watch out, kamo na sunod ani," Goking said.

The committee is currently investigating other alleged investment scams in Cagayan de Oro City. (SunStar Cagayan de Oro)


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