PNP-ACG: 63 arrested over alleged online investment scam in Ortigas Center

The Philippine National Police - Anti-Cybercrime Group (PNP-ACG) said Tuesday that 63 individuals were arrested in an operation against an alleged online investment scam in Ortigas Center.

ACG chief Police Major General Wilson Asueta said cyber warrants were implemented in the operation with other concerned government agencies.

“We were able to arrest 63 personalities involved in an investment scam,” Asueta said in a press briefing.

“It is stemmed from the complaint coming from some individuals, especially senior citizens that they were victimized of this kind of investment scam,” he added.

According to Asueta, the operation stemmed from complaints filed by senior citizens who allegedly lost more than P2 million to the scheme.

The PNP-ACG said the entities identified as KLSJ Call Center Services and XTRADE Trading Platform were allegedly operating without permits and were not authorized to offer investment services.

Based on the investigation, the alleged scam began with online advertisements and social media posts offering work-from-home job opportunities.

Interested applicants were later informed that the positions had supposedly been filled, but they were allegedly encouraged to earn money instead through a trading platform or investment opportunity.

Police said suspects would then collect personal information from potential victims, including their names, contact numbers, age, occupation, and preferred time for calls.

Elderly individuals with pensions were among the primary targets.

The victims were allegedly contacted through messaging applications by individuals posing as trader assistants or account managers who would convince them to invest money in exchange for promises of large profits.

Police said victims were initially asked to deposit around P6,500 into the trading platform.

The victims allegedly encountered problems once they attempt to withdraw their funds, including system errors, delayed transactions, and demands for additional payments supposedly for taxes, insurance, or processing fees.

The ACG also disclosed that the alleged foreign boss of the operation had a pending warrant of arrest issued by the Pasig City Regional Trial Court for 70 counts of violation of Section 254 of the National Internal Revenue Code and 70 counts of violation of Section 255 of the same law.

Police said the recommended bail was set at P60,000 per count, totaling to P8.4 million.

The warrant of arrest was implemented against the foreign national at the ACG Custodial Facility on Monday.

Due to this, the ACG urged the public to be cautious of online investment and trading platforms promising large returns in a short period.

The agency also advised the public not to provide personal and financial information to unverified individuals or online entities and to verify first whether companies and investment platforms are registered and legitimate. — BAP, GMA News