A charge of syndicated estafa under Article 315 of the Revised Penal Code is considered as non-bailable and punishable with lifetime imprisonment.The warrant stemmed from a complaint filed by a 50 year-old businessman who accused Ken Chan and seven others of alleged involvement in a P14-million investment scam.Chan, however, was not in his home in Quezon City on Friday when the warrant was served.
In an interview with entertainment media, the complainant's legal counsel, Joseph Noel Estrada, said talks between the unidentified businessman and Chan began in 2022 when the actor promised a profitable investment in their restaurant business.'According to the complainant, Ken Chan asked for an investment they were not authorized to solicit investments from the public. And by using misrepresentation and fraudulent schemes, they obtained money from the complainant,' Estrada said.