78 Chinese nabbed in financial scam

Subscribe Now April 20, 2012 at 08:58am

DAVAO City police arrested 78 Chinese and Taiwanese nationals engaged in international financial fraud in simultaneous raids Wednesday afternoon. Forty-seven men and 31 women were arrested.

Senior Supt. Ronald dela Rosa, city police chief, said the operations stemmed from a complaint passed on by Taiwan’s Criminal Investigation Bureau.

Dela Rosa said the suspects would scare mostly elderly folks from China and Taiwan by concocting stories that they have multiple bank accounts which are suspected as being used in money laundering.

He said the victims are then instructed to empty their bank accounts to the syndicate’s bank account or they will be arrested by police and their properties confiscated.

He said the suspects collected yuan (one yuan is 15 US cents) that could amount to millions of dollars.

Dela Rosa said his men raided three safehouses with electronic and computer devices that were set up like a call center. The safehouses were located at Valgozon Compound, Velasco subdivision in Barangay Bangkal; Villa Josefina Village in Barangay Matina; and Ladislawa Village in Barangay Buhangin.

He said the raids were conducted based on two search warrants issued by Judge Isaac Robillo of Davao Regional Trial Court Branch 5 and a search warrant from Judge Ridgway Tanjili of RTC Branch 15 for violation of the “Access Devices Regulation Act of 1998,” and violation of Article 315 of the Revised Penal Code or swindling and estafa.

The raids were witnessed by six representatives of Taiwan’s CIB.

Source: malaya.com.ph



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