Businessman found dead in Pasay home

A debt-ridden businessman who had supposedly duped several people into investing in his holdings venture shot himself Monday afternoon in Pasay City.

Police identified the fatality as Joel Castillo, 33, of 2101 Somerset Condominium, Pasay.

He was rushed to the Manila Sanitarium Hospital but died while undergoing treatment.

Pasay police chief, Senior Superintendent Oscar Catalan said investigators are still determining the veracity of reports reaching them that Castillo was neck-deep in debts as a result of his business.

"According to the reports, he managed a pyramiding business. He supposedly incurred huge debts and could not pay investors anymore. Investors were supposedly after him which was why he may have taken his own life," Catalan said in Filipino.

But the police chief emphasized that there was no final report yet and authorities are still investigating the case.

Initial investigation showed that at around 2:45 p.m., Castillo’s live-in partner, Ma. Teresa Cartado, heard a shot from their bedroom and found him bleeding.

Castillo was shot in the right temple.

She immediate called a neighbor, a certain Casiano Sta. Maria, to help her bring Castillo to the hospital, said case investigator PO2 Marianito Agas.

Aside from Cartado, three house helpers were at the condominium unit when the incident happened, Agas said. Castillo expired at around 4:15 p.m. – Nikko Dizon