Billionaires Camille Villar and Lance Gokongwei are the latest among top business executives whom scammers illegally use online to entice victims into investing in fraudulent schemes.

Villar, managing director of Vista Land Commercial Division and president and chief executive officer of AllValue Holdings Corp., said in a social media post, "It has come to my attention that several persons or entities have been unscrupulously using my name and pretending to be my representatives to defraud unwitting victims.”

“They are claiming that I am offering business opportunities or investments. Please be aware that these claims are false and are intended to scam the public,” Villar said.

“If you have received such messages, please report them to the authorities immediately. Any legitimate business opportunities or announcements from me will be posted on our official social media accounts," she added.  

Meanwhile, the Gokongwei Group said, “Please be warned that well-known enterprises and personalities, including JG Summit President and CEO Mr. Lance Gokongwei, are being used to encourage the public to invest in cryptocurrency projects such as the so-called ‘Momentum Capital’ program.”

“This is to inform the public that Mr. Gokongwei, the Gokongwei Group, its subsidiaries and representatives are in no way involved in these projects.

“We are taking the appropriate measures to mitigate the proliferation of these false advertisements. We strongly urge everyone not to engage with suspicious platforms and to properly scrutinize web pages and links at all times,” it noted.

Earlier warnings have also been issued by well-known tycoons for scammers’ unauthorized use of their names and photographs. These billionaires include Manuel B. Villar Jr., Enrique K. Razon Jr., and Manuel V. Pangilinan.