Decentra Investment Scam Shut Down by the SEC

The Securities and Exchange Commission (SEC) in a joint operation with the Philippine National Police Anti-Cybercrime Group (PNP-ACG) arrested a total of 19 individuals hailing from the Decentra Investment Scam. Two of the arrested were foreigners and criminal cases last June 12 with the Department of Justice. 

Decentra is an investment scam that required its members to pay 349.95 USDT and promised returns amounting to ₱5M a day or $100,000. A membership fee of 99.95 Tether or USDT was being collected from first-time investors along with other offers of online investment packages. 

Returns by Decentra amounted to up to 120% of the member’s first investment and could vary on the number of recruits they help invite and the package they chose. 

The arrest of the officers of Decentra happened in the middle of a seminar in a hotel in Quezon City. During the seminar, Decentra was illegally soliciting investments without the proper license. 

The SEC received a tip on Decentra’s illegal investment solicitation and garnered the support of the EIPD and the PNP-ACG in the entrapment operation. 

Arrests were made based on violations of the Securities Regulation Code (SRC) or Republic Act No. 799, specifically sections 8.1, 26.3, and 28 due to their offering of securities to the public without securing a license from the SEC. 

Among the arrested includes Arnel Laxa, Michael Anderson, Arnold Black, Rodolfo A. Asadan, Roberto A Betinol, Fritzie Abalde, Nely Carvajal, Wyndell Español, Jenny A Tampulan, Alice Fabroa, Lawrence Ruiz, Kieth Reñola, Mary Joy Mendoza, Joy Esclamado, Rose Marie Razon, Analiza Narvaez, Warpath Chu, Teodorick Acuña, and Fe Paglingayen. 

The EIPD has then said “in view thereof, the public is hereby advised to exercise self-restraint from investing their hard-earned money in such high-yield, high-risk investment scheme and to take the  necessary  precaution  in  dealing  with  individuals  representing  the  above-named entity and not to invest or stop investing in said entity,” 

Source: Securities and Exchange Commission, Philippine News Agency