A group of suspects accused of being involved in an elaborate scam have been charged with syndicated estafa by the Baguio City Prosecutor’s Office in the Philippines.
Hector Pantollana, the purported leader of Horizon Players Club, along with 15 others, including Hazen Humilde, leader of the group’s Baguio and Cordillera region arm, are now set to face trial. This follows accusations of swindling investments totaling at least PHP4 billion ($71 million) from approximately 10,000 investors across the Cordillera and nearby regions.
The allegations against Pantollana and his cohorts surfaced last year when numerous investors inundated the National Bureau of Investigation-Cordillera Administrative Region (NBI-CAR) with complaints of financial deception. It is claimed that investors were promised monthly returns on their investments in the casino junket financing scheme.
Pantollana, along with his brother Hubert Amiel, the Humilde brothers, Mikaela Damasco Ty-Choi, Virginio Martin Casupanan, and other key figures, are accused of duping investors with promises of substantial returns, purportedly reaching 5 percent monthly. However, it is alleged that these promises were not fulfilled, prompting a wave of complaints and subsequent legal action.
Despite a Cease-and-Desist Order (CDO) issued by the Securities and Exchange Commission (SEC) against Pantollana and Humilde’s operations, reports suggest that the illicit activities continued, allegedly squandering investments worth P17 billion ($301 million) from across the country, including funds from Filipino expatriates.
In response to the charges, Pantollana and his legal representatives have vehemently denied any wrongdoing, maintaining that the allegations lack sufficient evidence and insisting that investors were aware of the nature of their investments. Similarly, Humilde and his associates have issued statements refuting the accusations, claiming they are unfounded and unsupported by concrete evidence.
