Police arrested the owner of a trading company in Malasiqui, Pangasinan over alleged involvement in an illegal investment scheme that reportedly affected thousands of investors across the country and abroad.

Authorities served a warrant of arrest afternoon on Tuesday, January 6, 2026, at an office in Barangay Poblacion, Malasiqui, where the 29-year-old businessman, owner of JRL Kwarta Trading Company, was found. Police said the warrant was issued by the Regional Trial Court in San Carlos City for syndicated estafa, a non-bailable offense. The suspect went with authorities peacefully.

Malasiqui Police Station chief, PLtCol. Francisco Sawadan, said the arrest took place while the suspect was with his lawyer and allegedly discussing how to settle investor payouts.

“Habang nag-uusap sila ng lawyer niya, allegedly to arrange the payout ng mga nag-invest. Accordingly, ibabalik niya ‘yung pera ng mga investors niya,” Sawadan said.

Police said the company was flooded with complaints over an alleged illegal investment scheme. According to Sawadan, the business operated under a forex investment model and attracted a large number of investors.

“Ito ay operation sa forex. It operated some time at maraming nag-invest sa kaniya at accordingly ay may more or less 10,000 investors na nahumaling sa offer ng kumpanya,” he said.

The suspect admitted lapses in releasing payouts to clients but said he is working on settling their capital.

“Nagkataon lang na may hindi naasikasong papel tas lumabas ‘yung warrant. Nakakalungkot lang kasi paano ko siya maisasaayos kung nasa loob ako,” he said.

He also apologized to his clients and explained his absence on social media.

“Noong hindi po ako nagpaparamdam sa social media, hindi po ako nagpo-post sa page namin, iniingatan ko lang din po talaga ‘yung security kasi gusto ko rin talaga na ako mismo ‘yung magtrabaho,” he added.

The accused added that releasing the funds is not simple, saying the total amount involved has already reached billions of pesos.

He also clarified a previous case in May 2025 when the Philippine National Police Anti-Cybercrime Group raided the company’s former office over an alleged cryptocurrency investment scheme without proper permits.

“Ang sinasabi po nila, hindi namin inaasikaso ‘yung SEC, ‘yun ‘yung kumalat. Pero hindi na kami nag-rebut. Pero ilang beses kaming nag-try sa SEC,” he added.

Records showed that JRL Kwarta Trading started operating in 2021 and allegedly offered returns of 10 percent or higher on investments.

Police said the company had clients from 52 provinces in the Philippines and from nearly 30 other countries.

The suspect said he is not evading the charges against him. He is currently detained at the custodial facility of the Malasiqui Police Station while the case proceeds.