Wahana Investment Scam Founder and Partner Arrested In Quezon City
2 min read
Residents of Manila, Philippines were taken through a huge storm when soldiers and police officers lost their money by unknowingly investing in a scheme that turned out to be a scam a.k.a The Wahana Investment Scam. One of the victims lost over 3 million pesos.
Police finally got lead when they found the woman accused of co-founding the Wahana Investment Scam.
Details About The Wahana Scam
The Wahana Investment Scam took place in Manila, Philippines, and mainly targeted Police and Army Officials. It was conducted by three individuals namely – Maria Raissa Yap, Dante Pradas, and Michael Yap.
The three individuals took money from officials under the false promise of giving returns as high as 12 percent per week and 48 percent per month through its business of lending money to casino players. The company name used was: Wahana Credit and Loan Corp.
Michael Yap, the husband of Maria Raissa Yap was allegedly the founder of Wahana Credit and Loan Corp. Michael also used to be in the Police forces, which helped him further in conducting the scam.
Col. Randy Glenn Silvio of the CIDG’s National Capital Region field office who ultimately arrested the scammers said: “Some of the couple’s victims are soldiers and police officers who put their money in an investment scheme that turned out to be a scam.” He also said that one of the victims lost up to 3 million pesos in the scam.
Scammers Arrested
Maria Raissa Yap, 34, better known as the co-founder of the Wahana Scam, was found in her hideout in a subdivision of Barangay West Fairview. She was found by agents of the Criminal Investigation and Detection Group at around 3.45 pm according to Col. Randy Glenn Silvio of the CIDG’s National Capital Region field office.
Police served a warren against Maria for 82 counts of Estafa without bail. Police also served a warren against Maria’s companion, Dante Pradas, 46, who was arrested on charges of reckless imprudence resulting in damage to property with a recommended bail of P30,000.
Maria’s husband, former police corporal Michael Yap, was arrested in Baras, Rizal on June 8. He was also a part of the Wahana Scam and was allegedly the founder of Wahana Credit and Loan Corp.
The scam is still being investigated and we will be providing you with more information on it soon.
