Philippines: 17 face fraud charges over casino junket scam

Philippines: 17 face fraud charges over casino junket scam

Baguio City Prosecutor’s Office has indicted Hector Pantollana

The Philippines.- A group of people involved in casino junket financing have been charged with syndicated estafa, or large-scale fraud. Hector Pantollana, the purported leader of Horizon Players Club, along with the group’s Baguio and Cordillera region wing Team Z leader Hazen Humilde and 15 others, will face trial.

The group allegedly took over PHP4bn (US$71m) from more than 10,000 people in the Cordillera and nearby regions to invest in a casino junket scheme through false promises of a 5 per cent monthly return and an additional 2 per cent for those who convinced others to invest. Over 200 people complained of fraud and said they never received their money back. 

The Securities and Exchange Commission issued a Cease-and-Desist Order (CDO) against Pantollana, Humilde and other leaders last March. Despite the CDO, the group continued to operate in Baguio City and Northern Luzon. Pantollana and his associates are facing similar charges in various courts in Metro Manila.

See also: Philippines senator proposes penalties for online gambling content

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