After a week of investigation by the National Bureau of Investigation regarding the multi-million peso Comfoods scam, nothing happened. The Huang Family (Gary, Margarita, and Nicole) are currently hiding. According to GMA news, the president and CEO of Commonwealth Foods Incorporated issued a statement that Gary and Margarita Huang are not connected with Comfoods for more than 10 years. In fact, their share in the company is not significant at all. Maybe they just own less than 1%, or maybe slightly more than that.
There are no recent news about the whereabouts of Gary and Margarita. What we know now is that the eldest daughter, Nicole “Nicky” Huang, is also involved and is hiding in New Zealed. Their youngest, Conrad Huang, is a special child and is clearly not involved in the syndicated estafa that was filed to the Huang family by the victims of the million peso lending scam.
Comfoods is a conglomeration of 3 pioneering food-manufacturing companies, which were merged on September 30, 1968. It’s founded by the Huang family. 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.
The Cofi Division (Roasted and Instant Coffee products) – The Cofi Division was the original Commonwealth Foods, Inc., organized in January 21, 1951. It commenced production of roasted ground coffee in February 1952 in its own plant in Makati, Rizal – one of the very first locators in what would eventually become Manila’s premiere business center. Four years later, it put up the first instant and soluble coffee manufacturing plant in the country and Asia.
Sixty-one years later, its coffee brand Café Puro continues to cater to discriminating Filipino consumers with its unique “brewed coffee taste”. Aside from its commercial brand, it also services its valued institutional users and buyers of instant and ground coffee.
The Philfood Division (Cocoa and Chocolate products) – Originally the Philippine Food Industries, Inc., “Philfood Division”, began operations in October 1956. It is credited for being the first entity in the Philippines to venture into cocoa and chocolate processing from its plant located at EDSA, Mandaluyong City.
Today, it produces various cocoa and confectionery products bearing the umbrella brand name RICOA. These products include Breakfast Cocoa Powder, Sweetened Cocoa Powder, Chocolate Syrup, popular chocolate candies like Curly Tops and Flat Tops, Eucalyptus-mint hard candies Kool Joy, and Big Top chocolate-coated dragees.
It has been exporting cocoa butter since 1956 under the registered trade name, Philfood, to major users in the United States, and Europe.
For industrial users, and bakeshops and hotels, it also produces industrial chocolate coatings, compound coatings, industrial cocoa powder, cocoa butter, and chocolate chips.
The Fibisco Division (Biscuit products) – Filipinas Biscuit Corporation, from which the brand name Fibisco was derived, was originally organized on January 23, 1959 and started commercial production the following year in 1960. It is popularly known for its “English Quality Biscuits” due to the fact that English Consultants set up the plant using English-made machinery, and was initially run by an English Plant Manager.
Fibisco Choco Mallows, Choco Crunchies, Hi-ro, Jolly, Fibisco Chocolate Chip Cookies, Butter Cookies, Butter Crunch, Marie, Soda Crackers and Ginger Snaps, are some of the more established household names for both young and old.
Due to its big name and very well-known people involed, the poor victims trusted their millions to them as an investment. Sadly, they cannot be trusted.