Three British nationals arrested for investment fraud

Government agents have arrested three British men involved in the operation of securities fraud that employs a number of Filipinos.

Armed with a search warrant, the National Bureau of Investigation (NBI) raided on Tuesday the office of Plustel Solutions, Inc. in Barangay Maduya, Carmona, Cavite which led to the arrest of British nationals Andrew Robson, Graham Allan Bennet and Dominic Whellams.

Thirty-five other Filipino personnel who were caught in the act of selling securities were apprehended.

All 38 individuals already underwent inquest proceedings for violation of the Securities Regulation Code in relation to the Cybercrime Prevention Act of 2012.

A total of 172 other individuals working as data miners, qualifiers and verifiers were brought to the NBI for investigation and verification.

Citing an anonymous informant, the NBI said the company was engaged in the selling of non-existent bonds, securities, debentures and similar products to unsuspecting investors outside the Philippines.

"Prospective investors were usually chosen from engineering, oil and gas and manufacturing industries. Initial contact through the telephone was made by telequalifiers to assess prospective victim’s financial capacity and willingness to invest," the NBI said. 

"Favorable result will be forwarded to the verifiers who gauge the probability of an investment sign up. Finally, encoding follows wherein financial information will be forwarded to the loaders who will ensure that the investors parts with their money in exchange for non-existent securities to their damage and prejudice," it added.

The NBI had also confirmed with the Securities and Exchange Commission (SEC) that Plustel lacked the authority to offer securities. —KG, GMA News