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PNP, PAOCC agents nab 25 ‘scammers’ in Baguio raid

June 12, 2023 Alfred P. Dalizon 475 views

COMBINED agents of the Philippine National Police (PNP) and the Presidential Anti-Organized Crime Commission (PAOCC) on Saturday afternoon arrested 25 persons said to be involved in a highly-fraudulent multi-million property investment and “Ponzi” scam in Baguio City, the Journal Group learned Monday.

The arrested suspects, led by one “Jennylyn,” are now facing criminal charges for violation of the Security Regulation Code, otherwise known as the Financial Products and Services Consumer Protection Act in relation to Section 6 of Republic Act 10175 or the Cybercrime Prevention Act of 2012, a report to PNP Anti-Cybercrime Group (PNP-ACG) director, Brigadier General Sydney S. Hernia said.

Members of the Cordillera Regional Anti-Cybercrime Unit (RACU) led by Colonel Ma. Theresa Guinto Pucay, a team from the Securities and Exchange Commission (SEC) headed by supervising specialist Erikson Morales, a PAOCC team led by Director Jayson Ison, and officers from the Baguio City Police Station 5 led by Major Nixon Budikey were involved in the operation triggered by an order from the SEC last Friday.

The joint entrapment operation at Blossom 1 and 2 Orchard Hotel, located along Legarda Road in Baguio City, led to the arrest of “Jennylyn,” a real estate appraiser/consultant, and 24 others.

The operation stemmed from the complaint filed by the SEC against the primary suspect, described as the “Chief Operations Officer/Chief Executive Officer” of four commercial firms.

The SEC complained that the group of the suspect was using the business names of four firms and conducted a seminar at a hotel in Baguio City at 9 a.m., June 10, 2023. The suspects were discovered “live streaming” the event through the Facebook page of one of the companies they allegedly represented.

The group reportedly has attracted a number of prospective clients and representatives thru their offer of huge investment returns in their real estate business.

However, the SEC said that it has discovered that the company is involved in an “investment fraud.”

SEC officials said that the company was discovered to be involved in the “deceptive” solicitation of investments from their targets as well as different Ponzi schemes, which supposedly offer “huge” profits to an individual investor provided he/she can recruit more people who will invest money to them.

Apart from “Jennylyn,” other suspects arrested during the operation include some social media marketers, a company operations manager, admin assistants, a loan and finance officer, and an admin trainee.

Recovered during the operation were a total of P1,384,236 in registration fees and investment money given by the seminar participants, laptop computers, external drives, a money counter machine, two computer printers, and two boxes containing assorted documents.

The accused were taken to the PNP-ACG office in Cordillera for documentation while charges were being prepared against them before the Baguio City Prosecutor’s Office.

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