NBI Arrest Foreign National Over P50-M Gold Investment Scam
A foreign national was arrested over alleged involved in a large gold investment scam that cost a Hong Kong-based company nearly P50 million.
The National Bureau of Investigation arrested a foreign national after he was accused of taking part in a P50 million gold investment scam.
The arrest was carried out by the agency’s Cybercrime Division following a deeper investigation into what authorities described as a syndicated international scheme. Reports showed that the group managed to collect around USD 874,200, or more than P50 million, from the victim through a series of questionable transactions.
The scheme allegedly started when a shipment of gold that was supposed to be delivered to Kenya was diverted to the Philippines without the approval of the company involved. Because of this unexpected issue, the victim was convinced to enter into another agreement for an additional 90 kilograms of gold, hoping to resolve the problem.
While in Kenya, the victim was introduced to a person who claimed to be an embassy official from Congo. Later, the victim was informed that the entire 100 kilograms of gold had mistakenly been sent to the Philippines.
The suspects then asked for an extra USD 282,800, saying the money was needed to facilitate the release of the shipment.
On February 13, 2026, authorities conducted an entrapment operation at a resort in Pasay City. The suspect met with the victim and claimed he would assist in releasing the gold from a bonded warehouse in exchange for payment.
When agents attempted to arrest him, the suspect reportedly resisted and caused minor injuries to some operatives. Charges for syndicated estafa, robbery, direct assault, and violation of the Access Devices Regulation Act are now being prepared.
Authorities continue to remind the public to be cautious when dealing with investment offers, especially those involving large amounts of money and international transactions.
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