Vlogger Yexel Sebastian faces P50 billion Syndicated Estafa complaint
MANILA, Philippines — Content creator and entrepreneur Yexel Sebastian faces several complaints including one for syndicated estafa in a scam involving as much as P50 billion.
Around 30 individuals and the National Bureau of Investigation (NBI) filed Syndicated Estafa against Sebastian, who is facing a separate complaint for violation of the securities and regulation code, over an alleged junket investment scam.
Based on computations shown by NBI's Fraud and Financial Crimes Division Chief Atty. Palmer Mallari, the amount involved in all the complaints would reach P50 billion.
One of the alleged victims claimed to have lost P700,000. The victims include politicians, celebrities, businessmen, and overseas Filipino workers.
"We are being sustained by the revised securities and regulation code [that] any evidence of indebtedness is also a form of security," said Mallari. "We will be utilizing that process of the law... We will also be filing a potential case of violation of the anti-money laundering case."
Sebastian — who left the country last year with his partner — has denied being at fault and claimed he too is a victim of the incident, "Uulitin ko po, wala kami niloko kahit isang tao, kami po ay nalagay lang sa alanganin, hindi po namin kagustuhan ang nangyari sa amin lahat."
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