satta9 Cops nab 4 across various regions for cryptocurrency scam

MANILA, Philippines — Various regional units of the Philippine National Police Anti-Cybercrime Group (PNP ACG) arrested four suspects for their involvement in a cryptocurrency scam.

In a press conference late Tuesday afternoon, Philippine Seven Corp. (PSC) head of finance and investor relations Lawrence de Leon said they have 4,022 stores to date.

The Marcos administration aims to reduce the poverty incidence between 8.8 and nine percent by 2028.

One operation led to the apprehension of a 78-year-old woman in Angeles City, Pampanga province by the Regional Anti-Cybercrime Unit Cordillera Administrative Region (RACU CAR) on Jan. 20, the ACG detailed in its report made public Tuesday night.

Other separate operations caught an 18-year-old woman in Pitogo, Quezon Province by the RACU Bicol Region; a 44-year-old man in Eastern Samar by the RACU Western Visayas; a 61-year-old woman in Butuan City, Agusan del Norte by the RACU Caraga.

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READ: Cops nab 2 Filipinos, 3 foreigners for cryptocurrency scam

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The arrests stemmed from a complaint to the RACU CAR by a victim named “Milet,” whom the suspects convinced to invest P4.4 million and falsely assured of earnings.

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No further information about the suspects nor the victim were disclosed by the ACG.

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However, investigators found the four suspects conspired through Facebook, swindling victims into investing in their supposed cryptocurrency trading platform for the promise of high returns in only a few weeks.

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RACU CAR filed charges against the four suspects for swindling/estafa under Article 315 of the Revised Penal Code in relation to the Republic Act 10175 or the Cybercrime Prevention Act.

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Warrants of arrest were issued by the Regional Trial Court Branch 25 in Tabuk City, Kalinga province, with bail set at P72,000 per individual.

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“Our operatives are committed to upholding the law in the cyber environment and making sure that cybercriminals face accountability for their actions,” PNP ACG Director Brig. Gen. Bernard Yang said in a statement.

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