NBI nabs 2 scammers

Published August 19, 2020, 4:15 PM

by Jeffrey Damicog

Two persons have been arrested by the National Bureau of Investigation (NBI) for having duped their victims almost P3 million in an investment scam.

NBI Officer-In-Charge Director Eric Distor identified the suspects as Shagoptha Bashir Khan Punzalan and Rosenda Mohammad Jimenez.

The two were arrested during an entrapment operation conducted by the NBI’s Anti-Organized and Transnational Crime Division (NBI-AOTCD) last Aug. 14 in Manila.

Following their arrest, the suspects were presented for inquest before the Manila Prosecutor’s Office for estafa in violation of the Revised Penal Code (RPC) in relation to Republic Act 10175, the Cybercrime Prevention Act of 2012.

The NBI said in a statement the operation was conducted based on the complaints of the duo’s victims.

“According to the complaints, Subject Sha induced them to invest in her Cash Energy (Payday Loans) Services with a promise of high interest returns in merely weeks,” the NBI said.

“Complainants invested a total amount of P2,870,000.00 with pertinent documents acknowledged by Sha,” it added.

After giving their investments, the victims were issued bank checks as assurance for returns.

“Most of the checks bounced for reasons they were drawn against a closed account,” the NBI said.

Realizing that they were deceived, the NBI said the victims demanded refunds for their investments but “Sha was not able to deliver nor refund the amounts owed to complainants.”

The NBI also received certification from the Securities and Exchange Commission (SEC) which showed that no registration was granted to Cash Energy (Payday Loans) Services as a corporation or as a partnership.

Also, the entity has not been given secondary license as a lending company, broker, or dealer of securities, dealer in government securities, investment adviser of an investment company, investment house and transfer agent.

Punzalan also had no records of having been issued certificate of registration as registered associate person, compliance officer, salesman, and certified investment solicitor of a broker dealer in securities investment, investment house, underwriter of securities, investment company adviser, and mutual fund distributor.

 
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