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Scores of people decry casino junket scammers in the Philippines

August 5, 2023 Philippines Crime & Legal

60 individuals lodge complaints at a Philippine-based junket scam group; thousands to tens of thousands possibly affected by the same group according to insiders.

Original story by Artemio Dumlao for Philippine Star Global

In the Philippines, investors and account managers of the casino junket scam group “Team Z” are flooding the country’s National Bureau of Investigation (NBI) with complaints they were defrauded of their hard-earned money.

One complainant accused TEAM Z ring leaders of duping investors into believing they would continue receiving their 5 percent monthly “returns of investment” and 2 percent more for those who convinced others to invest into the casino junket financing scheme purportedly meant for the Okada casino in Parañaque.

So far, 60 have lodged their complaints against the Team Z scam ring leaders as of Tuesday afternoon.

More complaints are expected to come in the coming days as insiders vouch there are at least 10,000 distressed investors — some of them are street sweepers, government employees and businessmen — in Baguio City alone.

Complainants claimed that although they received their payouts during the first few months of their investments, it did not last long as the investments were not actually invested into casino financing but were pocketed by the group.

Complainants claimed they issued investment contracts that were disguised as contracts of loan. Investments are locked in for a period of 12 months

Complainants, who vowed to become government witnesses, likewise bared they are in deep indebtedness because Team Z ring leaders enticed them into a 30/70 car loan and housing loan. Under the transaction, Team Z promised to shoulder 70% of the total monthly amortization payments while the investor would pay the 30% downpayment.

Learn more about this story by Artemio Dumlao at https://www.philstar.com/nation/2023/08/02/2285707/complaints-vs-casino-junket-scammers-flood-nbi

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