99 Arrested in Philippine Crypto Scam Hub Raid
Philippine police have arrested 99 individuals during a raid on a suspected scam hub in Parañaque City, uncovering a fraudulent cryptocurrency and romance scheme involving foreign and local workers. The company was unregistered and forced employees into compromising roles.
Philippine Police Bust Crypto Scam Hub, Arrest 99 in Major Raid
The National Capital Region Police Office (NCRPO), a division of the Philippine National Police (PNP), revealed on Thursday that 99 workers were arrested during a raid at a suspected crypto scam hub in Parañaque City, Philippines.
Maj. Gen. Jose Melencio Nartatez, chief of the NCRPO, reported that the police raided AIA Company’s office in Centrium Tower 1, Barangay Baclaran, following intelligence reports that the business was involved in cryptocurrency and romance scams. Among those arrested were three key figures: Nan Shan, the manager; Detu Su, the owner; and Wu Jian Bin, the supervisor. The raid also uncovered 64 foreign nationals, including Chinese, Malaysians, and others, alongside 32 Filipinos allegedly working as customer service representatives (CSRs) in the fraudulent operation. Nartatez stated:
Investigation disclosed that the company utilizes their CSRs in fraudulently portraying a character, such as a wealthy model who would entice prospect victims to invest in the manipulated cryptocurrency exchange/trading platform, with fraudulent intent.
The investigation further revealed that the company was not registered with the Philippine Securities and Exchange Commission. Filipino employees claimed they were coerced into participating in the scams and forced into compromising roles, Nartatez explained, stating:
While conducting inquiries to them, the Filipino nationals manifested that they (CSRs) were forced to work as scammers, while the models were being forced to dress in a seductive manner and perform lascivious conduct, which the CSRs will portray in order to lure their prospect victim.
Charges under the Cybercrime Prevention Act of 2012 and the Securities Regulations Code of the Philippines are being prepared against those involved.
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