Police arrest 20 members of alleged pyramiding scam

Police arrested 20 suspects at a Makati City hotel for their alleged involvement in a pyramiding scam, Marisol Abdurahman reported Monday on "24 Oras."

The Criminal Investigation and Detection Group arrested the suspects during a gathering of a company called Pro-Cap International Incorporated.

Based on the investigation, the group promises a one-day return on investment (ROI), with a minimum initial investment of P72,500.

“In just one day, mababalik sa iyo ang pera mong pinasok. Hindi nila sinasabi na ‘yung pera mo pala ay gagamitin through online casino, ‘yung ginagawa nilang scheme na ‘yan is meron ka ring upline at yung upline mo magkakaroon ng percentage kapag nanalo ka,” said CIDG-NCR Officer-In-Charge Police Colonel Joey Caise.

The group allegedly started operating in Singapore in June 2023.

Among the arrested individuals were eleven Filipinos and nine foreign nationals.

GMA Integrated News sought statements from the suspects and their lawyers, but they all declined to comment.

Former Justice Secretary Vitaliano Aguirre was among the attendees at the gathering.

According to the CIDG, Aguirre is one of the lawyers of Pro-Cap International. He insisted that there was nothing wrong with the company's transactions. — Sherylin Untalan/DVM, GMA Integrated News