INVESTORS of Rigen Marketing were dismayed after the court allowed its chief executive officer King Paul Auditor and others to post bail for their syndicated estafa case.
Tagum City government prosecutors led by City Prosecutor Noel Palma walked out of the Davao del Norte Provincial Jail compound last Saturday afternoon, February 8, 2020, as they were dismayed by what they called as "highly irregular" hearing.
Among those dismayed was Joshua Geronio, 44, online seller, when he learned that part of the Joint Order of the court states that Auditor filed an Affidavit of Loss and Waiver of Rights. This means that all Auditor's bank passbooks were lost and that his bank accounts cannot be traced after his house in Tagum City was ransacked.
"Kana kay maka-piyansa na siya, tapos gideklara niya pinaagi sa Affidavit of Loss and Waiver of Rights, wala na gyod ang kuwarta, pakyas ang giingong refund sa Rigen (Since he can already post bail, and that he declared through an Affidavit of Loss and Waiver of Rights, that means all the money is gone and that there will be no more refund)," Geronio said.
It was learned that the court allowed Auditor to post bail according to the order released by Tagum City Regional Trial Court Branch 1 Judge Virginia Tejano-Ang.
In another report, a supposed hearing was conducted last February 4, however, the fiscal's office did not receive an invitation.
Candelaria Magsinoc, 60, expressed her disappointment saying that it seems they could no longer find justice with the turn of events.
"Bisan unta og wala na na-refund among kuwarta, hustisya na unta to nga napriso siya ug ang iyang mga kauban. Pero karon, wala nay hustisya, kay nakapiyansa man (It doesn't matter if we could not receive a refund as long as Auditor and his cohorts are sent to prison, that would already be justice for us. But now, there is no more justice as the responsible are allowed to post bail)," Magsinoc sadly said.
Kyle Jumao-as, 19, college student, could not forget how he invested money intended for his tuition in Rigen Marketing.
"Di gyod ko kalimot sa akong P15,000 nga pambayad unta sa tuition nako sa school, di na man gyud to mauli, molayas naman ning si Auditor labi na karon kay nakapiyansa (I could not forget my P15,000 supposedly payment for my tuition in school. I never expect that they will return my money especially now that Auditor can already post bail)," he said.
However, after the incident, many investors are still hopeful that their capital will be returned, but more and more investors are losing hope.