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MANILA, Philippines — A major online investment scam hub operating under the guise of a trading platform was shut down in Barangay San Antonio, Pasig City, on May 20, resulting in the arrest of 63 suspects, including an alleged 55-year-old foreign mastermind.
The PNP Anti-Cybercrime Group (PNP-ACG) said the case stemmed from complaints of victims allegedly lured into investing through online ads and individuals posing as trading assistants and investment advisers.
“The SEC (Securities and Exchange Commission) has records and alerted us, providing information. Aside from the three senior citizen complainants who went to us, there are reportedly many more victims,” said ACG director Maj. Gen. Wilson Asueta in a press briefing at Camp Crame on Tuesday.
READ: PNP urges public vigilance after Laguna investment scam
