Comfoods Million Peso Scam by Gary Huang and Family

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I just recently heard about this in various social media channels and GMA news last April 21, 2016. According to the CEO of Commonwealth Foods Incorporated, Gary Huang, Margarita Huang, and family are not connected with Comfoods for a very long time.

The victims of the lending scam reported this incident to the NBI just recently after the checks issued to them by Gary Huang was returned to them. The Huang family are currently under investigation, and cannot be found anywhere in the Philippines.

If you don’t know what the hell is Comfoods Inc., it is a Filipino firm, conglomeration of three pioneering food-manufacturing companies, which were merged on September 30, 1968. The three corporations were: Commonwealth Foods, Inc., Philippine Food Industries, Inc., and the Filipinas Biscuit Corporation. With the merger, the three entities were re-organized into the Cofi Division (for Roasted and Instant Coffee products), Philfood Division (for Cocoa and Chocolate products), and Fibisco Division (for Biscuit products) of COMFOODS.

They are quite well-known in the Philippines, that’s why a lot of people, close friends and relatives of the Huang family entrusted millions of money to them. The investors earn around 4-6% interest per month. So if you only have a million pesos with Gary Huang, you’ll conveniently earn a minimum of 40,000 pesos per month. That’s a lot compared to the banks.

Comfoods President Anthony Huang has nothing to say about this. I don’t know if Anthony Huang is Gary’s brother, but I’m pretty sure they know each other.

Image Credit: Facebook.com.

8 Replies to “Comfoods Million Peso Scam by Gary Huang and Family”

  1. They should also investigate the front person of the scam who actively recruited for the Huangs, her name is Rosemarie Abulencia…she is an accomplice by the very fact she was issuing checks for the interest of some of the investors using her own personal BDO account. To add insult to injury, a contract was stumbled upon showing that she was getting 20% for the principal she passed on to Margarita Huang from her investors and in return she would only pay them from 4-6% leaving the bulk of the interest for her own pocket. She has children studying in France right now hence the high cost of living she has to maintain for her kids abroad.

    1. Thanks for sharing her name. I don’t know anything about Rosemarie Abulencia. But I hope they will be caught soon.

  2. The facebook accounts of the huang family are no longer active, but Nicole Huang’s instagram account (Username: @nyxwork) is still active. She is currently in new zealand taking up masters in design)

  3. Due to wrong information, I have mistakenly involved Rosemarie Abulencia for the said criminal offense mentioned above through unconfirmed circumstantial information and it was a clear misunderstanding between the two of us; having said that, I would like to categorically say that she had no participation on the said fraudulent misrepresentation of Gary and Margarita Huang. For this I wish to convey my error in involving Rosemarie Abulencia on this matter.

  4. I believe conrad is currently studying at i academy. He also knows how to drive so sometimes it’s really hard to believe that he doesn’t know a thing..

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