Six Indian nationals and three Filipinos were apprehended for alleged carnapping and syndicated estafa following an entrapment operation conducted by agents of the National Bureau of Investigation (NBI).
In a statement, the NBI said the suspects were allegedly part of a syndicate involved in a fraudulent scheme known as the “assume balance-talon” modus. The operation was launched after a car owner filed a complaint, accusing the group of selling his vehicle without his knowledge or consent.
The scheme typically targets individuals who have fallen behind on their car loan payments. The syndicate approaches these individuals and offers to assume the remaining loan balance. However, instead of making legitimate payments, the group pawns the vehicle without the owner’s knowledge. When the original owner becomes financially capable of resuming payments, the syndicate demands a large sum—usually with exorbitant interest—to return the vehicle.
In this case, the complainant, who had defaulted on his car loan, agreed to a “pasalo” arrangement (where another person takes over the loan payments). His vehicle ended up in the hands of one of the suspects, who not only resold it but also mortgaged it for ₱120,000.
When the original owner attempted to recover the vehicle, he was told to pay ₱450,000. He was also threatened that the car would be dismantled if he failed to pay the amount.
This prompted the victim to report the incident to the NBI, which carried out the entrapment operation at a casino hotel on June 24, leading to the arrest of all nine suspects.
The NBI has since warned the public to be extra cautious when entering into financial transactions, especially those involving car loans or “assume balance” arrangements, to avoid falling prey to similar scams.