Ex-Pagadian mayor loses P4M jewelry in NegOcc

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BY CYRUS GARDE
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BACOLOD City – What were a former mayor of Pagadian City, Zamboanga del Sur and his wife doing with almost P4 million worth of jewelry and cash in a beach resort in Cadiz City, Negros Occidental?

The 51-year-old Samuel Sy Co and wife Priscilla Ann, 49, lost all these items to robbers.

According to the Cadiz police, the couple reported to them on Sunday morning that robbers may have barged into the Junior Suite they were renting at the Lakawon Island Beach Resort and Spa in Barangay Cadiz Viejo.

Initial police investigation showed the culprits gained entry via the window of a comfort room.

The items that the couple declared missing, police said, include:
* a set of earrings (diamond stud, 3 carats each) worth P900,000
* a tennis/eternity bracelet (diamond), P1,500,000
* a bangle (Bulgari, diamond), P200,000
* a set of earrings, a bracelet and a necklace with pendant (all white-and-green diamonds), P500,000
* a hoop earring (white gold with diamonds), P50,000
* a white gold men’s Rolex with diamonds, P500,000
* a gold cross pendant with diamonds and a gold chain, P50,000
* a white gold diamond men’s ring, P100,000
* a set of white pearl earrings, P50,000
* P15,000 cash
Police led by Chief Inspector Rocky Desear, officer-in-charge of the Cadiz City police station, continue to investigate the alleged robbery.

The officers identified the couple as businesspeople residing at 50 Lapu-Lapu Street, Magallanes Village, Makati City.
In 2013, the couple was charged with syndicated estafa for their involvement in the multibillion-peso Ponzi scheme of Aman Futures, reports published in a national broadsheet showed.

In April that year, a regional trial court (RTC) in Iligan ordered their arrest along with several others following a complaint filed by an Aman Futures investor who claimed that they were duped by Co and the firm’s officers for a combined P29.63 million.

December that year, the National Bureau of Investigation arrested and detained the couple.

In May 2015, an RTC in Manila denied Co’s application for bail but approved that of his wife Priscilla. In October 2016, the Court of Appeals reversed and set aside the Manila RTC decision, the reports showed.

The Lakawon Island Beach Resort and Spa in Cadiz City is being leased by businessman Vladimir Gonzales./PN
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