By Eileen Mencias
The Malolos Regional Trial Court has issued a warrant of arrest for Investagrams co-founder John Michael Lapina in connection with an estafa case,
adding to his mounting legal troubles over alleged investment fraud.
The arrest warrant, signed by Presiding Judge Efren Bascao Tienzo of Branch 13 on January 3, 2024, sets bail at ₱120,000.
The Malolos case is separate from an earlier criminal complaint filed in Quezon City, involving seven counts of estafa and two counts of violating the Bouncing Checks Law.
In the Quezon City complaint, Lapina is accused of defrauding investors of more than P16 million through a company called “JML Capital”. He allegedly promised high returns from private Equity placements and pre-initial public offering shares.
The complaint alleges that Lapina began soliciting investments in December 2022, offering short-term placements with 11.7% returns. He allegedly used his association with financial education platform Investagrams to bolster credibility.
To support payouts, Lapina issued post-dated checks amounting to ₱1.147 million and ₱13.15 million, which were later dishonored due to closed accounts, according to court filings.
Authorities have yet to serve the Malolos warrant, as Lapina could not be located at his known addresses in Makati City and BF Homes, Parañaque. Lapina previously said the accusations were being addressed in court.
Investagrams has not responded to a request for comment.
