NBI-Dagupan nabs teacher involved in alleged ‘bitcoin’ scam

NBI-Dagupan nabs teacher involved in alleged ‘bitcoin’ scam

DAGUPAN CITY — A public school teacher from San Manuel, Pangasinan is facing raps following his arrest by the National Bureau of Investigation-Dagupan District Office (NBI-DADO) for allegedly enticing his colleagues and others to invest in bitcoin trading.

NBI-DADO agent-on-case Mark Caceres said the suspect, Angelito Jacob, was arrested after an entrapment operation they organized on Tuesday.

“The suspect guaranteed them of 100-percent interest with money back come 200 working days, which attracted the complainants,” Caceres said in an interview Thursday.

DAGUPAN CITY — A public school teacher from San Manuel, Pangasinan is facing raps following his arrest by the National Bureau of Investigation-Dagupan District Office (NBI-DADO) for allegedly enticing his colleagues and others to invest in bitcoin trading.

NBI-DADO agent-on-case Mark Caceres said the suspect, Angelito Jacob, was arrested after an entrapment operation they organized on Tuesday.

“The suspect guaranteed them of 100-percent interest with money back come 200 working days, which attracted the complainants,” Caceres said in an interview Thursday.

Caceres said the guarantee, however, was in vain, as the 200 days passed without any sign of investment returns.

“They demanded their money back, to which the suspect was unable to produce, prompting the complainants to approach our office and file raps against Jacob,” he added.

On August 6, the complainants returned to the NBI after Jacob asked them for another investment worth PHP60,000, allegedly for the processing of their investments and a promise of an overseas tour.

This was when the NBI-DADO conducted a successful entrapment operation in Binalonan town.

“As soon as the suspect got hold of the money, we immediately arrested him,” Caceres said.

The collective amount being claimed as of today is PHP1.4 million. The amount does not yet include others who will soon come to the NBI to file complaints.

In an interview with a complainant, whose name was being withheld, Jacob allegedly told them to invest in bitcoin as the returns are high.

“As soon as we handed to him the money, an account will be made for us. Hanggang doon na lang yung transaction (But the transaction stopped from there),” the complainant said.

Apparently, investigation showed Jacob is in cahoots with other individuals, whom he calls ‘uplines’.

The NBI said Jacob has been indulging for almost two years in the bitcoin trading, where he belongs to certain groups, namely FX Trading and Airbit Club.

In an advisory from the Securities and Exchange Commission dated Sept. 4, 2018, Airbit Club is “not registered as a corporation or partnership and is not authorized to solicit investments from the public as the above-mentioned entity did not secure prior registration and/or license to solicit investment from the Commission as prescribed under Section 8 of the Securities Regulation Code.”

FX Trading, on the other hand, is still subject to examination by the NBI.

Caceres said more complainants are expected to file raps against Jacob and his ‘uplines’.

Meanwhile, the NBI urged the public not to be enticed by investment schemes that bait the public with high investment returns.

“Magduda po dapat kapag ang offer ay mas malaki sa ino-offer ng mga legitimate na financial institutions. Ugaliing magtanong sa government agencies muna kung legitimate ba ang papasuking investment (You should be suspicious if the offer is higher than the offers of legitimate financial institutions. Make it a habit to ask first government agencies if the investment is legitimate),” Caceres said.

Meanwhile, bitcoin refers to one of the many existing virtual currencies (cryptocurrencies) used for paperless financial transactions.

It has been associated with the Silk Road — an illegal online black market, which used bitcoins as its currency to enable clients and customers to obtain all sorts of illegal items easily and anonymously.

With its unsustainable nature, rates can fluctuate from a few cents up to thousands of dollars. (PNA)

Caceres said the guarantee, however, was in vain, as the 200 days passed without any sign of investment returns.

“They demanded their money back, to which the suspect was unable to produce, prompting the complainants to approach our office and file raps against Jacob,” he added.

On August 6, the complainants returned to the NBI after Jacob asked them for another investment worth PHP60,000, allegedly for the processing of their investments and a promise of an overseas tour.

This was when the NBI-DADO conducted a successful entrapment operation in Binalonan town.

“As soon as the suspect got hold of the money, we immediately arrested him,” Caceres said.

The collective amount being claimed as of today is PHP1.4 million. The amount does not yet include others who will soon come to the NBI to file complaints.

In an interview with a complainant, whose name was being withheld, Jacob allegedly told them to invest in bitcoin as the returns are high.

“As soon as we handed to him the money, an account will be made for us. Hanggang doon na lang yung transaction (But the transaction stopped from there),” the complainant said.

Apparently, investigation showed Jacob is in cahoots with other individuals, whom he calls ‘uplines’.

The NBI said Jacob has been indulging for almost two years in the bitcoin trading, where he belongs to certain groups, namely FX Trading and Airbit Club.

In an advisory from the Securities and Exchange Commission dated Sept. 4, 2018, Airbit Club is “not registered as a corporation or partnership and is not authorized to solicit investments from the public as the above-mentioned entity did not secure prior registration and/or license to solicit investment from the Commission as prescribed under Section 8 of the Securities Regulation Code.”

FX Trading, on the other hand, is still subject to examination by the NBI.

Caceres said more complainants are expected to file raps against Jacob and his ‘uplines’.

Meanwhile, the NBI urged the public not to be enticed by investment schemes that bait the public with high investment returns.

“Magduda po dapat kapag ang offer ay mas malaki sa ino-offer ng mga legitimate na financial institutions. Ugaliing magtanong sa government agencies muna kung legitimate ba ang papasuking investment (You should be suspicious if the offer is higher than the offers of legitimate financial institutions. Make it a habit to ask first government agencies if the investment is legitimate),” Caceres said.

Meanwhile, bitcoin refers to one of the many existing virtual currencies (cryptocurrencies) used for paperless financial transactions.

It has been associated with the Silk Road — an illegal online black market, which used bitcoins as its currency to enable clients and customers to obtain all sorts of illegal items easily and anonymously.

With its unsustainable nature, rates can fluctuate from a few cents up to thousands of dollars. Ahikam Pasion / PNA – northboundasia.com