An unsuspecting investor lost P3 million to four persons who were reportedly engaged in an investment scam using a social messaging app and an unregistered investment firm.
Glady, agents of the National Bureau of Investigation Cybercrime Division (NBI-CCD) arrested the four suspected scammers at a big hotel in Paranaque City last Nov. 28.
The NBI identified the suspects as Alvin B. Sahagun, Aldrin P. Alimbuyog, Geraldine D. Santos, and Noel D. Carranza.
They were charged with estafa under the Revised Penal Code; syndicated estafa under Presidential Decree No. 1689; and violations of Republic Act No. 8799, the Securities Code; RA 11765, the Financial Products and Services Consumer Protection Act; in relation to RA 10175, the Cybercrime Prevention Act of 2012.
The arrest stemmed from the assistance sought by the complainant against the four suspects including a certain Jerry Sahagun who is still at large.
The NBI said that the complainant was messaged by Alvin through Messenger App and invited the former to a meeting to discuss a business proposal.
It said the complainant met the suspects at a hotel in Paranaque City. It also said the complainant was convinced by the suspects to invest in their company called “Advocate Change Club” (ACC) with earnings ranging from five to eight percent monthly.
It also said the suspects told the complainant that the money will be invested in Cryptocurrency and will be returned after year.
Last January, the complainant gave the suspects the initial investment of P3 million. Suspect Alvin gave complainant 12 postdated checks for P150,000 each and another check for P3 million.
When the first check became due, it was presented for encashment by the complainant by it was returned for insufficient funds. The other checks were presented but the bank noted the checks were either “Drawn Against Insufficient Fund” or “Closed Account.” The complainant said that upon verification with the Securities and Exchange Commission, ACC was not registered as an investment company.
The complainant said Alvin promised to change the dishonored checks with cash provided the former would infuse additional investment. The complainant sought the assistance of NBI-CCD.
Last Nov. 28, the suspects agreed to meet with complainant, also in the Paranaque City hotel.
Upon presentation of the marked cheque to Alvin, NBI-CCD agents arrested him his three other companions. Criminal charges were filed after the arrest.