Obenita is the manger of Juan Pinoy Investment Ventures, Inc., and has been arrested for violation of Republic Act 8799 (the Securities Regulation Code).
The five complaints say that a total of 431,000 pesos were taken from them by the suspect, who in return promised them big earnings for an investment that started with just 1,000 pesos.
The five individuals were given soaps that they sold to help recruit other members so they could earn more.
The complainants said that Obenita only promised them money, but never paid them once. Obenita has denied the charges against him.
He is currently being held in the NBI detention center in Bacolod City.
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