Police bust alleged online investment scam syndicate in Pasay

Police raided an office in Pasay City following a report from Malaysian nationals about an alleged online investment scam, according to a report by Susan Enriquez on Unang Balita on Wednesday.

According to Police Senior Inspector Artemio Cinco of the Philippine National Police (PNP) Anti-Cybercrime Group, the Malaysian Embassy notified authorities of the complaint last December.

Malaysian nationals claimed that they fell prey to the company, which was allegedly traced back to the Philippines.

"Bebentahan nila ng investment like bitcoin," Cinco said. "Anything na puwedeng ibenta online na mga investment, so ang mga biktima magde-deposit initially and then makikita ng mga biktima malaki kinita nila. So ang akala nila nagi-earn sila."

The company was allegedly run by foreigners and also targeted foreigners as their main victims.

"Na-locate namin 'yung dalawang office nila sa Pasay at isa sa Cavite. Ang modus kasi nila ang mga binibiktima nila mga pensioner," Cinco said.

The apprehended employees of the company face charges of syndicated estafa as three Malaysian victims are set to arrive in the country on Wednesday. —Marisse Panaligan/LDF/KBK, GMA News