Police personnel arrested on Feb. 19 a 25-year-old female suspect, a call center agent, who is allegedly involved in scamming several people in a shady online investment scheme.
The Baguio City Police Office reported that the suspect was arrested by police personnel and intelligence agents of the Aurora Hill Police Station in her residence at Upper Wangal, La Trinidad, Benguet.
The accused, whose name has been withheld by the police, was arrested through the 35 warrants of arrest issued by the Municipal Trial Court in Cities, Branch 1, Baguio City for estafa.
The suspect was designated as the collector of the illegal proceeds obtained from the 35 victims. The modus involves luring the victims to invest money by promising them a too good to be true amount in return, which turned out to be untrue as expected in any get-rich-quick scheme.
The suspect was recommended a bail of P654,000 for her temporary freedom.
BCPO Director Col. Francisco Bulwayan, Jr. reminded the public not to fall for these kinds of investment schemes, particularly those that offer and guarantee instant high-interest returns.
“It is not wrong to invest however, always check the authenticity of the investment business,” Bulwayan said.
Meanwhile, the Securities and Exchange Commission has advised the public against dealing with the following entities due to their unauthorized solicitation of investments without the necessary license from the Commission: PPG Investment Group/Conamor Shop, Livewell Multi-Ventures, Blackrock, Perfx Solution Corporation/Trading Basket/Trading Philippines, and Flipkart/Flipkart Platform/Flipkart Company.
SEC reported these groups have been found to be engaged in unauthorized investment-taking activities by either: borrowing capital from investors, using said capital to allegedly buy products, then selling said products to consumers, and finally giving back the profits to the investors.
Also, the groups are promising investors fixed earnings or posing as legitimate investment websites and mobile applications; and sending emails, fax, or letters to the victims and requiring them to pay an “advance fee” before receiving a significant share of a large sum of money; or posing as legitimate and reputable financial institutions.
SEC said such actions resemble a pyramid/Ponzi scheme, where investors earn through recruitment fees instead of the sale of actual products/services, and investors are paid using the contribution of new members. – Ofelia C. Empian
April 27, 2024
