Cop arrested for P2.6-million investment scam

MANILA, Philippines — A policeman was arrested yesterday for his involvement in a P2.6-million investment scam.

Staff Sgt. Rafael Machuelas was served an arrest warrant for estafa issued by Judge Eugenio dela Cruz of the Pasay City Regional Trial Court Branch 117.

Maj. Gen. Guillermo Eleazar, National Capital Region Police Office chief, served the warrant to Machuelas at the custodial detention facility of the NCRPO’s Regional Heaquarters Support Unit.

Machuelas was placed under restrictive custody on Feb. 20 after MSgt. Jenaline Sad-Ang filed a formal complaint against him for swindling her and her husband of P2.6 million.

The Sad-Angs said they invested the money in the Rafael Machuelas Group of Companies in 2015.

Sad-Ang filed charges after Machuelas failed to return their money.

Securities and Exchange Commission records showed that Machuelas’ firm does not exist, police said.