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Manila Bulletin devider Philippines devider National devider NBI arrests 'investment scammer'

NBI arrests 'investment scammer'

Published Aug 16, 2022 04:55 pm

National Bureau of Investigation (2)

An alleged investment scammer has been arrested by agents of the National Bureau of Investigation (NBI) in an entrapment operation in Manila.

In a statement issued on Tuesday, Aug. 16, the NBI identified the arrested person as Aldrin Oleta.

“On Aug. 11, 2022, Subject Oleta was arrested by NBI-AFD (Anti-Fraud Division) operatives in an entrapment operation and was presented for Inquest proceedings before the Office of the City Prosecutor of Manila,” the NBI said.

Oleta was charged with estafa under the Revised Penal Code (RPC) and for violation of Republic Act No. 8799, the Securities Regulation Code

The NBI said: “The operation stemmed from a complaint filed by the victim of Subject Oleta, who averred that he was enticed to invest in the latter’s supposed piggery business for an initial investment of P72,000 as pay-in for ten (10) pigs, and with earnings of P28,000 after three (3) months.”

It said the complainant decided not to push through with the deal after learning that “the said piggery investment business was a fraud because Subject Oleta has consistently failed to release the supposed profits to other investors and that the piggery business is non-existent.”

“Despite this, Subject Oleta has been constantly demanding payment of investments from target investors that prompted complainant to report to NBI,” it said.

“Further investigation by the NBI-AFD revealed that Subject Oleta was also the Subject of the same investment scheme which defrauded other victims of more than P11 million,” it added.

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