NBI nabs public school teacher in entrapment


A public school teacher from San Manuel town is facing charges following his arrest by the National Bureau of Investigation – Dagupan District Office (NBI-DADO).

According to NBI Agent-on-case Mark Caceres, the suspect Angelito Jacob was arrested in an entrapment operation when he was enticing his colleagues and others to invest in bitcoin trading.

“The suspect guaranteed them of 100% interest with their money back over a 200-working days, period.,”  said Caceres.

The complainants however, did not get the promised return of their investments after 200 days, and when they demanded the return of the money they invested, the suspect could not produce their any, prompting the complainants to report the modus of Jacob.

On August 6, the complainants returned to NBI to report Jacob’s attempt to convince them to invest another PHP 60,000, allegedly for the processing of their first investment and a promise of an overseas tour.

The NBI-DADO set up the entrapment in Binalonan town.

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

So far, Jacob is being made to account from the return of P1.4 million.

In an interview with one complainant whose identity is being withheld, she said Jacob allegedly talked them into investing in bitcoins because of the high returns.

“As soon as we handed to him the money, an account was supposed to be made for us. Hanggang doon na lang yung transaction”, said the complainant.

Initial NBI’s investigation, showed Jacob has already been working with others for over two years whom he referred to as his “uplines”, a word used for networking in bitcoin trading.

Jacob admitted working with “FX Trading” and “Airbit Club”

Securities and Exchange Commission had already confirmed that Airbit Club was not registered as a corporation or partnership, and is not authorized to solicit investments from the public.  The status of FX Trading, is still being verified by NBI.

Caceres said he expects more complainants to file charges against Jacob and his ‘uplines’.

Meanwhile, NBI urged the public not to be enticed to invest in schemes that promise much more than what reputable banks and investment houses can offer.

Bitcoin refers to one of the many existing virtual currencies (cryptocurrencies) used for paperless financial transactions and has been associated with the Silk Road – an illegal online black market which used bitcoins as its currency to enable clients and customers to obtain all sorts of illegal items easily and anonymously. (Ahikam Pasion)

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