By Dominique Gabriel G. Bañaga
BACOLOD City – One of the founders of the alleged RGS investment scam was tracked down and arrested by members of the Provincial Intelligence Unit and the Binalbagan Police Station on Thursday, August 25.
Police identified the arrested as Henjie Cuadra, temporarily residing at San Gregorio Village in the city’s Barangay Paglaum.
Negros Occidental Police Provincial Office (NOCPPO) spokesperson Lt. Judesses Catalogo said Cuadra has an existing warrant of arrest for the case of syndicated estafa issued by Judge Maria Lina Palencia Gonzaga of 6th Judicial Region Branch 42 in Bacolod City.
The suspect was detained at the Binalbagan Police Station.
The court recommended no bail bond for his temporary liberty.
Meanwhile, following Cuadra’s arrest, Catalogo is calling on his other victims to surface and file additional criminal charges against him.
Earlier this year, the Securities and Exchange Commission (SEC) issued a cease and desist order against RGS World Marketing Corporation for its alleged “illegal investment scheme” calling it “unlawful or unauthorized solicitation.”
“This Commission holds that the act of RGS WORLD in selling/offering unregistered securities operates as a fraud to the public which, if unrestrained, will likely cause grave or irreparable injury or prejudice to the investing public,” the commission said./PN
