In a significant operation, the Philippine National Police (PNP) arrested 99 individuals during a raid on a suspected scam hub in Parañaque City. The raid, conducted by the National Capital Region Police Office (NCRPO), targeted the AIA Company’s office located in Centrium Tower 1, Barangay Baclaran. The company was believed to be running a sophisticated cryptocurrency and romance scam, which involved both foreign and local workers.

Key Figures in Custody

Among those arrested were three key figures allegedly leading the operation: Nan Shan, the manager; Detu Su, the owner; and Wu Jian Bin, the supervisor. The police also detained 64 foreign nationals, including individuals from China and Malaysia, along with 32 Filipinos who were reportedly working as customer service representatives (CSRs) in the fraudulent scheme.

The fraudulent operation involved CSRs who pretended to be wealthy models in order to lure victims into investing in a manipulated cryptocurrency exchange or trading platform. The investigation revealed that the company was not registered with the Philippine Securities and Exchange Commission, adding to the illicit nature of its activities.

Coerced into Crime

Many Filipino employees claimed they were forced into participating in the scams. They reported being coerced into portraying seductive characters to deceive victims. Some employees were even forced into compromising and lascivious roles to further the fraudulent schemes.

The suspects face charges under the Cybercrime Prevention Act of 2012 and the Securities Regulations Code of the Philippines. The police are continuing their investigation to bring all those involved in the operation to justice.

This raid marks a significant step in the fight against cryptocurrency scams in the Philippines, highlighting the need for increased vigilance and regulation in the rapidly growing digital asset space.