Dinna Revilla arrested?
January 31, 2008
The latest news in the Philippine real estate investing industry is that Dinna Revilla, a renowned guru of foreclosed property investing in the country, was arrested yesterday due to accusations of estafa.
Revilla, author of the foreclosed property investing book Riches in Foreclosures and mentor to Think Rich! Pinoy author Larry Gamboa, allegedly misappropriated the invested money of beauty queen and TV host Miriam Quiambao and four other people.
The Philippine Star and the Manila Standard have the scoop on the issue.
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Miriam Quiambao files raps vs realty firm
Former beauty queen Miriam Quiambao and four others filed a syndicated estafa case yesterday against an alleged incorporator of a real estate investment company before the Manila City Prosecutor’s Office.
NBI agents apprehended Dinna Lynn Revilla, the president of Bonaventure Investors Realty Society Inc., which has offices at 407 Praise Condominium on Santillan street in Makati City. The firm’s incorporators – Antonio Revilla, Sheree Revilla, Ramon Cuervo III, and Gloria Petate – have also been named as respondents.
Dinna Lynn allegedly convinced the complainants to put their money in a property investment and guaranteed hefty profits in a short span of time, according to the NBI-NCR.
Navarro, Dinna Lynn’s apprentice, allegedly discovered misappropriations and discrepancies in the property investment and told the complainants about the status of their investments.
The complainants “discovered that their investment earnings were misappropriated and that their property investment were indeed already foreclosed… due to the non-payment of its corresponding monthly amortizations in the bank,†said Villarta.
- from the Phil. Star
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Bonaventure execs face syndicated estafa raps
Government agents arrested one of the incorporators of a real estate firm accused of syndicated estafa by former beauty queen and television host Miriam Quiambao and four other people.
Dinna Lynn Revilla, president of Bonaventure Investors Realty Society Inc. with offices at 407 Praise Condominium, Santillan St., Makati City, was arrested by agents of the National Bureau of Investigation in an entrapment at a mall in Manila.
The other incorporators were identified as Antonio Revilla, Sheree Revilla, Ramon Cuervo III and Gloria Petate.
The case stemmed from the complaint of Quiambao, Esperanza Dela Cruz, Maria Cristina Avenido, Karen Ann Navarro and Sheila Lim.
Investigation showed that Bonaventure executives convinced the victims to invest in real estate with a guaranteed return (of investment).
The firm asked money from the victims to purchase foreclosed properties. The money for the amortization was to be paid by the firm to the bank for their “investment†and they would receive a return once the properties were purchased and rented out.
Despite the lapse, the firm still demanded money from the investors amounting to P300,000 to “fix†the problem.
- from the Manila Standard
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April 6th, 2008 at 11:10 pm
guys,
is there any update on the dinna revilla case?
yikes, the comment about the scheme of larry is scary, what if something happens to larry? what happens to all your money??
March 1st, 2008 at 1:58 am
lesson to be learned here…
when investing in foreclosed assets, deal directly with d bank.if you were paying a 3rd party for 15 years. what happens to you if they suddenly dissappear in 14 years and the bank doesnt recognise you?
when investing for anything long term, much like buying insurance you need to pay for a few years, isnt it wise to investigate credibility of the company?what will ensure your money? do they have a bond with the central bank?
larry gamboa is using a similar risky scheme. the system is flawed, when you deal with larry, the bank recognises him not you, so he can spend your money any which way, and if anything should go wrong, you dont have a personality with the bank. no offense to bo sanchez, but its about money not religion, one needs to be wiser.
and by the way, they are not the official CASHFLOW group in the Philippines, they are only using the game to lure investors into their scheme. if you really wanna play and learn CASHFLOW, go with the AIM group of Richdad asia, theyre generic and they dont ask you to invest moneys with them.
February 29th, 2008 at 3:29 pm
Danny- Great comparison of investing vs speculation, plus wonderful response in your comment to Lazy Man. I couldn’t agree with you more. The RE industry has made a killing over the last few years promoting speculative “gamblingâ€. Good people have been led to believe that you can’t go wrong in RE and therefore, often don’t look closely at the numbers until it’s too late.
February 19th, 2008 at 5:20 pm
reading between the lines, you must have had a not so good experience with this “real estate guru”, hehehehe. dinna has drowned in her own scheme, bringing with her her family. she has made a lot of naive investors regret getting into investing with her.
i wonder what was her budget when she went out to have a european tour??? whose money was that kaya???
February 19th, 2008 at 1:03 am
its not about passive income..its just an installment thingy na pinaganda lang niya ang name. its far from robert kiyosaki way. very risky to deal with them. too bad that even bo sanches was gullible enough to be with them and they are using his name for credibility, kawawa mga small time people who are naive enough.just proves that being religious doesnt mean good business sense