The Philippine National Police presented the Ordonio couple, who are accused of running an investment scam, during a press conference in Camp Crame, Quezon City.
Arnel Ordonio and Leonady Ordonio are the registered owners of the company NewG that allegedly uses the cryptocurrency bitcoin to scam investors.
During the press conference, two of the 56 complainants shared how they were enticed to invest millions in the alleged company of the Ordonio couple.
The victims of the Ordonio couple hope that the money they invested will be returned to them.
The modus operandi of the NewG company is to announce that they will enter bitcoin trading in the stocks exchange using investment from their downline.
The company then promised their investors that their money will double after two weeks.
Meanwhile, PDG Ronald Dela Rosa, chief of the PNP, reminded the public to think twice before entering an investment scheme that promises large gains since it could be a scam.
The PNP – Criminal Investigation and Detection Group has already filed syndicated estafa charges against the Ordonio couple, who were arrested during an entrapment operation last April 4.