NBI ARRESTS 2 INDIVIDUALS FOR INVESTMENT SCAM IN LIPA

NBI ARRESTS 2 INDIVIDUALS FOR INVESTMENT SCAM IN LIPA

MANILA — In line with National Bureau of Investigation-Officer-In-Charge (OIC) Director Eric B. Distor’s orders to conduct an investigation on all online cyber-related fraud including the proliferating online investment schemes, the National Bureau of Investigation announced the arrest of two (2) individuals by operatives of the NBI-Special Task Force (NBI-STF) in an entrapment operation in Lipa, Batangas.

Director Distor identified the subjects as YRON RECODO y QUIMPO and KATRINA OLOTEO y CABALCE, both of HACIENDA NIRVANA (Nirvana) operated by ARCADIA PRIME DEVELOPMENT CORPORATION (Arcadia).

Director Distor said that Nirvana is one of the many subjects of the monitoring and cyber-surveillance efforts of the NBI-STF. Through continuous monitoring, the operatives were able to discover that Nirvana is a project owned and operated by Arcadia with an office located at RDC Plaza, Ayala Highway, Barangay Balintawak, Lipa, Batangas.

NBI-STF agents were able to set a meeting with Subject Recodo and an entrapment operation was hatched.

On March 31, 2022, NBI-STF operatives together with the poseur clients proceeded to the office of Arcadia and positioned themselves strategically outside the office of Arcadia.

After the orientation and ascertaining that Arcadia is offering investment, the undercover agents agreed to invest and handed over four checks in the amount of P300,000 and P500,000 under the name of ARCADIA PRIME DEVELOPMENT CORP.

Thus, the undercover agents gave the pre-arranged signal indicating that the transaction has been completed. NBI-STF operatives immediately entered the office of Arcadia and arrested Subject Recodo and the Administrative Officer of Arcadia identified as Subject Oloteo, who was in possession of the checks issued by the operatives.

The arrested subjects were brought to the NBI office for standard booking procedures and were presented for inquest proceedings before the Lipa Prosecutor’s Office, Batangas for violation of R.A. 8799 (Securities Regulation Code).

(Kiara Lauren Ibanez/BENJAMIN CUARESMA/ai/mtvn)

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