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NBI arrests teacher for alleged ‘bitcoin’ scam

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A teacher in San Manuel, Pangasinan was arrested by the National Bureau of Investigation for alleged involvement in a trading scam involving the online currency bitcoin.

NBI agent-on-case Mark Caceres said Angelito Jacob was arrested after an entrapment operation they organized on Tuesday, Aug. 6.

He said Jacob attracted victims by guaranteeing them 100-percent interest with money back in 200 working days.

The NBI Dagupan District Office (DADO) found the guarantee was fake as complainants said the 200 days passed without any sign of investment returns.

When the victims demanded their money back, Jacob was unable to pay them, prompting them to file a complaint.

NBI agents went into action after Jacob asked the victims for another investment worth P60,000, allegedly for the processing of their investments and a promise of an overseas tour.

“As soon as the suspect got hold of the money, we immediately arrested him,” Caceres said.

Investigation showed Jacob may have fleeced victims of at least P1.4 million.

Further investigation showed Jacob has been indulging for almost two years in the bitcoin trading, where he belongs to certain groups, such as FX Trading and Airbit Club.

Earlier, the Securities and Exchange Commission said Airbit Club is not registered as a corporation or partnership and is not authorized to solicit investments from the public.

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