MANILA – The National Bureau of Investigation–Antique District Office (NBI-ANDO) has filed charges against three officers of Growth Synergy Development (GSD), an investment company operating in San Jose, Antique, over allegations of syndicated estafa and investment fraud.

The suspects were identified as Jose Romel Claudio Gallano Chavez, Jose Dioric Gerogene Apaitan Chavez, and Annaliza Gorero Agustin Javier. They were arrested without warrant and brought for inquest before the Antique Provincial Prosecutor’s Office.

The three face charges for violation of Article 315 of the Revised Penal Code in relation to Presidential Decree 1869 (Syndicated Estafa), Republic Act No. 10175 (Cybercrime Prevention Act of 2012), and Republic Act No. 8799 (Securities Regulation Code).

According to investigators, the company enticed students and barangay residents to join its financial investment scheme by promising quick and high returns. Victims were told that the bigger their investment, the larger the profit.

To appear legitimate, GSD operated from a furnished office and displayed business permits, DTI registration, and BIR documents. Initial payouts were released to early investors to gain trust, but the scheme collapsed after more money was collected.

Jose Romel Chavez, a teacher at St. Anthony’s College, allegedly used his position to persuade students to invest. Investigators also confirmed that GSD lacked the secondary license from the Securities and Exchange Commission (SEC) required to solicit investments.

On August 30, about 50 investors trooped to the NBI-ANDO to file complaints. As of September 1, the number of complainants has risen to 95.

The suspects are currently detained at the NBI-ANDO detention facility pending further proceedings.