Impact of Dinna Revilla’s arrest on foreclosed property business
February 20, 2008
The renowned guru of foreclosed property investing in the Philippines, Dinna Revilla, was arrested three weeks ago and her supposed fraudulent schemes were featured last week on GMA7’s Imbestigador.
The arrest was based on estafa complaints by her investors, after Dinna allegedly continued collecting funds although the real estate properties were already foreclosed by the bank. In addition, several of the checks she previously issued as payment to investors bounced.
This development caused several people to believe that the foreclosed property investing venture espoused by Dinna and Think Rich! Pinoy author Larry Gamboa was a fraud.
