NBI raids networking hub in Lapu-Lapu for alleged pyramiding

NBI-CEBDO agents raid and confiscate the equipment of a networking company located at the MTC Shang Bldg. at ML Quezon Highway in Brgy. Pajo, Lapu-Lapu City on Wednesday afternoon, May 25, 2022, for alleged pyramiding. | Contributed Photo via Paul Lauro

CEBU CITY, Philippines – A networking firm based in Lapu-Lapu City is now in hot waters after its owner was accused of allegedly committing fraudulent activities. 

Authorities from the National Bureau of Investigation Cebu District Office  (NBI Cebdo) raided the office of JStore Innovation Worldwide Corp. on Wednesday, May 25, 2022. 

This stemmed from complaints made by several individuals, who claimed to have been duped into putting their money in what turned out to be a pyramiding scheme. 

Agents from NBI-7, during the raid, presented a search warrant issued by Presiding Judge Ruelo Saladaga of Branch 69 of the Regional Trial Court in Lapu-Lapu City.

They seized electronic equipment such as personal computers (PCs) and documents from the company’s headquarters located at MTC Shang Building in Brgy. Pajo, Lapu-Lapu City as evidence.  

Special Investigator 3 Agapito Guerran, who led the raiding team, said they received numerous complaints about JStore Innovation Worldwide Corporation.

Guerran said investors were promised high returns of investment, reaching up to 50 percent. However, the company and its owner, a certain Joil Dela Cerna Ocay, failed to give them their payouts.

Ocay was also the subject of the search warrant but he was not present in his office when the enforcers arrived there. 

Guerran said they invited at least seven employees for further questioning.

He also said they will file complaints against Ocay for violating the Securities Regulation Code.

/bmjo

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