According to ChainCatcher, the Philippine National Police arrested 99 people suspected of being involved in a cryptocurrency and romance scam in a raid in Paranaque City. The unregistered company forced employees to do improper work.
The investigation showed that the company used customer service representatives to pretend to be wealthy models and other characters to deceive victims into investing in manipulated cryptocurrency trading platforms, with obvious fraudulent intent.
Police found 64 foreign nationals and 32 Filipino employees who were suspected of acting as customer service representatives in the scam. The suspects, including company manager Nanshan, owner Su Detu and supervisor Wu Jianbin, will face charges under the Cybercrime Prevention Act of 2012 and the Philippine Securities Code.
