ACTOR KEN CHAN FACE SYNDICATED ESTAFA CHARGES IN ALLEGED INVESTMENT SCAM

Authorities are attempting to serve a warrant to actor Ken Chan related to a P14-million restaurant investment scandal (Photo courtesy of Ken Chan/Manila Standard)

Kapuso actor Ken Chan among seven others, is facing a syndicated estafa complaint related to an alleged investment dispute involving a restaurant business. According to a report, the money given to Ken and his group amounted to P14 million.

But authorities failed to serve a warrant as the actor was not in his Quezon City home at the time of the visit, and police have no information regarding his current whereabouts. His first warrant was reportedly served on September 24.

Atty. Joseph Noel Estrada and Atty. Maverick Romero of Estrada & Aquino Law Office represent the complainant who is a businessman between 40 to 50 years old who wishes to be anonymous.

They confirmed that Ken and seven co-accused are facing charges following an alleged investment scam. Estrada said that Chan convinced the client to invest in an alleged restaurant business to receive a 10% monthly interest.

“He actively solicited money from the complainant, our client. He said it would be for a restaurant business, promised that this would have big interest returns monthly. The business has closed, he hid and the business is gone so the case was file,” he said.

It added that it was Ken himself who convinced the victim to invest in his business, promising a 10% monthly interest in profit. But Ken and his co-accused are not authorized to solicit investments from the public. “However, through misrepresentation and fraudulent schemes, Chan and his co-accused obtained money.”

Meanwhile, host Boy Abunda reported that there are other individuals who have also allegedly filed a separate case against Ken. “Some other alleged individuals also filed a separate case against Ken. We are closely monitoring the story and as soon as we get information, we will share it with you.”

Syndicated estafa is defined as swindling "committed by a syndicate consisting of five or more persons formed with the intention of carrying out the unlawful or illegal act, transaction, enterprise or scheme, and the defraudation results in the misappropriation of money contributed by stockholders."

Under Article 315 of the Revised Penal Code, syndicated estafa is non-bailable and punishable with lifetime imprisonment.

Source: GMA Integrated News 

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