The National Bureau of Investigation has received complaints from the alleged victims of vlogger Yexel Sebastian over a junket investment scam.
In a GMA News report, Sebastian now faces a violation of the securities and regulation code.
Atty. Palmer Mallari, chief of the NBI Fraud and Financial Crimes Division Chief said that the amount involved in the scam has now reached P50 billion.
A victim recounted that he invested P700,000 in the investment scam and was promised that he would earn P35,000 a month.
Other victims of Sebastian include OFWs, employees, politicians, celebrities, and businessmen.
Victims said they were told to sign documents making it appear that they were loaning the money and not an investment.
“We are being sustained by the revised securities and regulation code…any evidence of indebtedness is also a form of security,” said Atty. Palmer Mallari, chief of the NBI Fraud and Financial Crimes Division Chief.
“We will be utilizing that process of the law. We will also be filing a potential case of violation of the anti-money laundering case,” he added.
Sebastian posted on his social media account that he too was a victim of the scam.
