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Team Z Investment Scam: Over P4 Billion Defrauded from 80 Investors in Baguio City

The NBI-CAR has warned the public about the Team Z investment scam, which has defrauded over P4 billion from at least 80 investors in Baguio City.

 |  3 min read

The Team Z investment scam has defrauded over P4 billion from at least 80 investors in Baguio City. The scam promised high returns on investments, but the victims stopped receiving any returns after the initial payments.

The National Bureau of Investigation-Cordillera (NBI-CAR) has warned the public about an investment scam operating in Baguio City. The scam, which has been dubbed the "Team Z investment scam," has defrauded over P4 billion from at least 80 investors.

The victims of the scam were promised high returns on their investments, with Team Z offering a 5% interest every month and an additional 2% from the total investment of the newly invited investors. However, after the initial payments, the victims stopped receiving any returns on their investments.

One of the victims, a cancer patient who invested about P1 million, only received a 5% interest nine months after he deposited his money to the company. He has not received anything since then.

Another victim, an Overseas Filipino Worker (OFW) who invested P1.5 million, also stopped receiving any returns after the initial payments.

Investigation done by authorities revealed that Team Z owners are involved in other scams in the city, defrauding more than P4 billion from 100 investors.

The suspects, who have not been identified, are facing charges of syndicated estafa.

As an initial action, the Security and Exchange Commission (SEC-Baguio) has requested the accused to cease operations, but the company continues to do so.

The suspects have refused to air their side with the media.

The NBI-CAR is urging the public to be wary of investment scams and to only invest with legitimate companies that are regulated by the SEC. The SEC has a list of registered investment companies on its website. Investors can check the list before investing in any company.

If you have been a victim of an investment scam, you can report it to the NBI-CAR or the SEC. You can also file a complaint with the police.

The NBI-CAR is also warning the public about other investment scams that are currently operating in Baguio City. These scams include:

  • A company that promises high returns on investments in real estate.
  • A company that offers investment opportunities in online games.
  • A company that sells investment products that are not registered with the SEC.

The NBI-CAR is urging the public to be wary of these scams and to only invest with legitimate companies that are regulated by the SEC.

The Team Z investment scam is just one example of the many investment scams that are operating in the Philippines. It is important to be aware of these scams and to take steps to protect yourself from becoming a victim. Here are some tips for avoiding investment scams:

  • Do your research before you invest. Ask questions about the company and the investment opportunity. Make sure you understand the risks involved.
  • Don't be afraid to walk away from a deal that sounds too good to be true. If a company is promising high returns with little or no risk, it is probably a scam.
  • If you think you have been a victim of an investment scam, report it to the authorities. You can also file a complaint with the SEC.

By following these tips, you can help protect yourself from becoming a victim of an investment scam.


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