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31 arrested for online investment scam

Emmanuel Tupas - The Philippine Star

MANILA, Philippines — Thirty-one employees of a company allegedly involved in an online investment scam targeting foreigners were arrested by members of the Philippine National Police Anti-Crybercrime Group (ACG) on Tuesday.

ACG director Chief Superintendent Marni Marcos said police raided the offices of ROSES4U Inc. along Diosdado Macapagal Boulevard in Pasay and Dasmariñas, Cavite at around 3:30 p.m.

Marcos said the raids were conducted by virtue of search warrants issued by Judge Eduardo Reyes of the Manila Regional Trial Court Branch 15 for violations of Republic Act 8799 or the Securities Regulation Code and RA 10175 or the Cybercrime Prevention Act.

Police said 25 suspects, including 22 women, were nabbed in the company’s Pasay office, which operates as a call center.

Six others were apprehended in Cavite.

Personnel of the Securities and Exchange Commission’s enforcement and investigation division also took part in the operations.

The raids stemmed from information provided by the Malaysian embassy that some of its citizens were duped into investing money in an online investment scheme.

The group’s victims are mostly pensioners whom they enticed to invest in stocks.

The company would tell the investors that they were earning money by showing them a fake bank account.

 “Mabibigla ka na lang wala na. Hindi mo na ma-withdraw ang pera mo,” ACG spokesman Senior Inspector Artemio Cinco Jr. said.

Police have yet to determine the amount stolen by the company.

Authorities are also checking reports that the group has also victimized European investors.

Seized during the operations were computers, SIM cards, switches and other documents.

The suspects were brought to the ACG office in Quezon City pending the filing of criminal charges against them.    

ANTI-CRYBERCRIME GROUP

INVESTMENT SCAM

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