Two individuals were arrested in an entrapment operation in Laoag City, Ilocos Norte, over their alleged involvement in an illegal investment scheme.

The National Bureau of Investigation–Laoag District Office (NBI-LADO) said the operation, conducted in coordination with the Securities and Exchange Commission (SEC) Laoag Extension Office, led to the apprehension of Arvin Licuan and Princess Dianne Nesteline Ramos on 25 March at around 3:30 p.m. in Barangay 25, Laoag City.

The NBI said the operation was prompted by a formal SEC request after reports indicated that Aura Financing Corporation had been offering investment opportunities to the public without the required registration or authorization.

Prior surveillance confirmed that the suspects were actively soliciting funds and issuing investment contracts, raising questions about the legitimacy of their operations.

During the entrapment, NBI agents posed as investors and handed over P100,000 in exchange for an investment contract, which formed the basis for the immediate arrests.

The suspects were presented for inquest proceedings before the Laoag City Prosecutor’s Office on 26 March. They face charges for alleged violations of the Securities Regulation Code (Republic Act 8799) in relation to the Cybercrime Prevention Act of 2012 (Republic Act 10175).