ACG arrests investment scammer in Makati

MANILA, Philippines — Criminal cases have been filed against a woman who was arrested in Makati City for allegedly stealing money from clients of her online investment scheme that turned out to be a scam, the police Anti-Cybercrime Group reported yesterday.

ACG director Brig. Gen. Bernard Yang said the suspect, whom he named only as Kris, is facing charges of swindling and violation of Republic Act 8799, or the Securities Regulation Code of the Philippines, in relation to RA 10175, also known as the Cybercrime Prevention Act.

Kris was arrested by cybercrime operatives in Barangay San Antonio on Wednesday.

The suspect’s arrest was based on the complaint of two people who told police they lost P100,000 in Kris’ investment scheme.

According to investigators, the suspect promised her investors a weekly interest rate of eight percent for their money. However, she only gave two weeks of earnings and disappeared with the victims’ capital.

Kris will then look for other potential victims online.

Yang urged the public to first verify if the investment opportunities being peddled on Facebook and other online platforms are legitimate.

“Scammers often prey on trust and urgency. When in doubt, consult authorized agencies,” Yang said in a statement.