PNP warns public against investment scams after P160M fraud case
Philippine National Police (PNP) Chief Police General Jose Melencio Nartatez Jr. on Monday said the police have intensified efforts to protect Filipinos from fraudulent investment schemes by strengthening police operations and public awareness campaigns.
The move follows the arrest of a businesswoman accused of defrauding investors of P160 million.
Nartatez said the initiative is in line with the directive of President Ferdinand “Bongbong” Marcos Jr., through the guidance of Interior Secretary Jonvic Remulla, to strengthen the government's campaign against criminal activities and protect the public from financial fraud.
He urged the public to exercise caution when dealing with investment offers promoted by popular social media personalities, stressing that online popularity and the existence of a legitimate business do not automatically guarantee the safety of an investment.
“Not everything that we see on social media is true; therefore, we advise the public to be extra vigilant in order not to fall victim to investment scams. Hindi dahil sikat sa social media ay agad na nating papaniwalaan. Siguraduhing lehitimo ang kanilang mga inaalok na paraan para kumita,” he said.
The warning followed the arrest of a businesswoman who gained popularity online through her food business and was accused of running a P160-million investment scam. The suspect was arrested at a casino in Pasay City.
Police said the suspect allegedly offered investors a guaranteed monthly return of five percent in exchange for investing in her food business. More than 100 people were reportedly enticed to invest, partly because the business was legitimate.
Nartatez vowed to intensify intelligence-gathering and police operations against individuals and groups behind fraudulent investment schemes, emphasizing that the PNP would pursue those who take advantage of people's desire to earn additional income.
“The PNP will continue to actively pursue those behind fraudulent investment schemes as we commit to protecting citizens who only want to earn a living. We strongly advise the public to immediately report to authorities if they have been victimized by these scams,” Nartatez said.