Fake profits, real losses: NBI files raps vs 22 in Makati online investment scam

The National Bureau of Investigation (NBI)  has filed charges against 22 individuals allegedly behind a large-scale online investment fraud operation uncovered in Makati City.

The case stemmed from complaints that the group ran fraudulent online trading platforms designed to lure investors with fabricated data. 

The platforms displayed manipulated account balances and false profit figures to create the illusion of high returns.

Authorities said these misrepresentations convinced victims to pour in more money, believing their investments were growing.

The suspects were arrested during a raid at an office in a commercial building along Gil Puyat Avenue on 30 March. 

The operation, conducted by the NBI Cybercrime Division and Special Action Unit, followed weeks of surveillance and case buildup.

Charges were filed for alleged violations of the Securities Regulation Code in relation to the Cybercrime Prevention Act of 2012.

Prior to the raid, a Makati court issued search warrants on 26 March, authorizing agents to examine computer data and seize digital evidence.

The NBI said the operation effectively dismantled the group’s activities, with seized equipment and records now undergoing forensic analysis.

Authorities are continuing their investigation to identify additional victims and determine the full scope of the alleged fraud.