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The Securities and Exchange Commission (SEC) has shut down Decentra, an investment scam involving cryptocurrencies, in an entrapment operation that resulted in the arrest of 19 individuals. In a joint operation last June 11, the combined forces of the SEC Enforcement and Investor Protection Departm ....
MANILA - The Securities and Exchange Commission (SEC) has taken down another investment scam promising fast and guaranteed returns from cryptocurrencies in an entrapment operation that resulted in the arrest of 19 individuals. In a joint operation on June 11, the combined forces of the SEC Enforcement and Investor Protection Department (EIPD) and Philippine National Police Anti-Cybercrime Group (PNP-ACG) arrested the officers of Decentra while in the act of soliciting investments from the public without the requisite license during a seminar or business presentation in a hotel in Quezon City. The SEC, through a mission order dated June 10, authorized and deputized a team of the PNP-ACG personnel, together with the EIPD, to conduct the joint entrapment operation, after receiving an email tip on Decentra's unauthorized investment solicitation activities. The Decentra officers -identified as Arnel Laxa, Michael Anderson, Arnold Black, Rodolfo A. Asadan, Roberto A Betinol, Fritzie Abal ....