Philippine Police Arrest 99 In Crypto And Romance Scam Bust

According to PANews, Philippine police have arrested 99 individuals in Parañaque City during a raid on a center allegedly involved in cryptocurrency and romance scams. Among those detained were the company's manager, owner, and supervisors. The investigation revealed that the company used employees to pose as wealthy models to lure victims into investing in fraudulent cryptocurrency platforms. The company was not registered with the Philippine Securities and Exchange Commission, and employees claimed they were coerced into participating in the scam. The individuals involved are now facing charges under the 2012 Cybercrime Prevention Act and Philippine securities regulations.