THE Department of Education (DepEd) Region 1 issued a memorandum warning teachers and other personnel against engaging in unlicensed investment schemes following reports that several educators have lost combined millions of pesos to an alleged cryptocurrency scam.

DepEd Regional Director Tolentino Aquino recently issued Regional Memorandum No. 530 after disturbing accounts that both teaching and non-teaching staff have fallen prey to an investment scheme that promised unusually high returns.

Some personnel reportedly even took out loans to increase their investment, only to find the operations shuttered and their funds inaccessible.

The advisory emphasizes caution and diligence, urging all personnel to verify investment entities through the Securities and Exchange Commission (SEC) and consult legal officers for any suspicious offers.

Law enforcement operations are underway involving a firm known as JRL Kwarta Trading Co., which is allegedly at the center of the controversial investment scheme.

On May 17, 2025, operatives from the Philippine National Police Anti-Cybercrime Group (ACG) and the Pangasinan Provincial Cyber Response Team, in coordination with the SEC, served warrants against an office in San Carlos City that was allegedly operating a cryptocurrency investment and remittance center without proper licensing.

This followed an entrapment operation on May 13, which led to the arrest of five individuals linked to the unauthorized investment scheme. They are now facing criminal charges for violations of the Securities Regulation Code (RA No. 8799) and the Cybercrime Prevention Act (RA No. 10175).

In a video circulating on social media, Joshua Rosario Layacan, who identified himself as the owner of JRL Kwarta Trading, appealed for public understanding, stating, “Never kong itatakbo yung pera na ininvest po ninyo sa company.”

He claimed that the company is merely working on completing its documentation and insisted that “JRL Kwarta [is] number one.”

A separate Facebook notice posted by the firm said that profit payouts may be delayed due to “ongoing document processing,” but reassured investors of the company’s commitment to fulfill its obligations.

A retired teacher who invested around ₱400,000 from her retirement pay said she still hopes to recover her money, citing earlier returns that made the scheme seem legitimate. “Everything was going well until the office was raided by authorities,” she said. (Eva Visperas)

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