Pasig city: The Philippine National Police - Anti-Cybercrime Group (PNP-ACG) arrested 63 individuals, including a 55-year-old foreign national identified as the mastermind, during a raid on an alleged large-scale online investment scam operation in Pasig City.

According to Philippines News Agency, ACG chief Maj. Gen. Wilson Asueta stated that the operation stemmed from complaints by victims who were lured through online advertisements and convinced by supposed trading assistants and investment advisers to invest in the XTRADE platform. Authorities implemented a Warrant to Search, Seize, and Examine Computer Data (WSSECD) on May 20, uncovering an organized scheme involving marketing personnel, tele-sales agents, and retention agents using scripted messages on various online platforms to persuade victims to invest.

Investigators found that the suspects used fake identities, manipulated victims into making continuous deposits, and controlled withdrawal requests to make the trading activities appear legitimate. "According to Securities and Exchange Commission, this XTrade trading platform, as well as the KLSG call center, they are not registered with SEC. I mentioned their names because they don't have juridical personality, they are not registered under our Philippine jurisdiction," Asueta said.

The suspects are facing multiple charges under the Cybercrime Prevention Act, Securities Regulation Code, Anti-Financial Account Scamming Act, and Revised Penal Code. Further verification revealed that the foreigner, whose nationality was not disclosed, also had an existing arrest warrant issued by the Pasig City Regional Trial Court for multiple tax-related violations, with total recommended bail amounting to PHP8.4 million. The warrant was served at the ACG Custodial Facility on Monday.

Asueta commended the operatives for the successful operation. "This operation underscores our firm commitment to unmasking cybercriminals and protecting the public from online fraud and scams. We urge everyone to remain vigilant and to report any information related to illegal online activities to the nearest PNP-ACG office for prompt and appropriate action," he said.