Photo courtesy of Philippine National Police/Facebook
The Philippine National Police (PNP) reported the arrest of a man allegedly linked to a syndicated estafa scheme that reportedly defrauded a businessman of about Php 10 million, including USD 170,000 and Php 1 million.
The suspect, identified by police as alias “Prince,” 42, was arrested during an entrapment operation conducted on March 2 in Ermita, Manila by operatives of the Manila Police District.
Investigators said the complainant was introduced to individuals who claimed they had a strategy to guarantee winnings in a game of chance.
Police said a meeting was arranged in Malate on March 1, during which the complainant turned over the money for supposed exchange and processing.
Authorities said the individuals involved later left the area and failed to return, prompting the complainant to seek police assistance.
A follow-up operation was then planned, leading to the arrest of the suspect allegedly involved in the transaction, police said.
PNP officials said the case highlighted continuing efforts to address fraud schemes that exploit victims through false promises of quick financial gain.
Police said efforts were under way to identify and arrest other individuals believed to be involved in the alleged scam, while charges were being prepared against the suspect in custody.