Five alleged scammers, believed to have milked millions of pesos from their victims, were arrested in a joint entrapment operation launched by the National Bureau of Investigation (NBI), the Securities and Exchange Commission (SEC), and the Anti-Red Tape Authority (ARTA) in Quezon City this week.

In a statement, the ARTA said the suspects Bernie Limpiada, Brix Marvin Ojeda, Rogelio Laverinto, Glory Ann Pillora, and Sison Inocencio, all involved with Agriwealth Farm Venture, Inc., were arrested on July 21.

Based on reports, Limpiada, Pillora, and Inocencio were nabbed in a mall in Quezon City at around 4:08 p.m. after receiving the entrapment money.

Ojeda and Laverinto, who introduced themselves as the company's Chairman/CEO and General Manager, respectively, were collared in a subsequent raid at the company's office at around 7:20 p.m.

The arrested suspects were turned over to the NBI and will be facing charges for violation of the SEC Code and other appropriate laws.

In a joint press conference on Friday, July 23, NBI Director Eric Distor warned the public not to engage with scammers and to coordinate with them for investigation.

"We call on the public not to patronize these investment scams, lalo na 'pag hindi (especially if they are not) registered with SEC," he said.

"Come forward and operate with the NBI because this is the only way that we can hold them accountable," he added.

"This kind of modus, this is not new. Para itong virus na nagmu-mutate din, nag-e-evolve din (It's like a virus that mutates and evolves)," he continued.

Investigation showed that the operation stemmed from the complaint of a pastor on June 8 who claimed that the suspects and the company from which they came from were involved in an investment scam.

According to the complainant, Agriwealth Farm Venture, Inc. offered investment plans to the public even when it was later found that it was not registered as a corporation nor issued with a secondary license to operate as an investment company by SEC.

It had supposedly instead used its articles of incorporation to solicit funds.

The ARTA said the company claimed to give investors a 160-percent return in investment within 100 days. It also promised investors a daily profit ranging from 1.6 to 2.5 percent of their invested amount.

In addition, the investors were told to receive a percentage of their invested amount for every direct referral or recruit.

ARTA said the company led investors to believe that it owned a 20-hectare aquafarm that yielded mud crabs and tiger prawns in Hagonoy, Bulacan.

The scam has yielded millions of pesos from unsuspecting victims.

ARTA Secretary-General Jeremiah Belgica referred the complainant to the NBI as the nature of the complaint was not red tape-related, The pastor was escorted to the NBI to relay his concerns.

In the joint press briefing following the arrest of the suspects, Belgica commended the NBI for their timely response. He underscored how different types of criminality will be eliminated if government agencies and local government units will work together.