A Filipino Woman Loses P76,000 in Facebook Investment Scam
Online investment turns sour for woman, resulting in a loss of PHP 76,000 due to a deceitful online scheme.
A 24-year-old woman named Elle from Lapu-Lapu City, Cebu, has fallen victim to a Facebook investment scam involving the entities "MP Digital" and "Shanaiah Francisco." After saving her money for two years to buy a high-end cellphone, Elle's hard-earned savings of P76,000 are now lost.
Elle was approached on Facebook by someone named Patricia Balagtas, who convinced her to join an "investment" scheme promising a 60% return. Elle's boyfriend, a Criminology student in Cebu City, accompanied her to seek help from radio station dyHP to recover the lost money.
The scam unfolded when Elle was added to a group chat called MP Digital, which had five members. She was told her next return would be double. Elle filled out a form with her personal details, including her GCash number, and received an initial payment of P120.
Elle was later asked to send P1,200 and received P1,600, reinforcing her belief in the scheme's legitimacy. However, she was pressured by the scammer with time, saying everyone else had deposited already, and she was the only one left.
Elle deposited another P3,500 on the same day but was told the payout would be moved to the morning of July 13. Early the next day, Elle was asked to add another P2,500 to her investment to increase her potential earnings. Despite not yet receiving any profits, Elle was asked to deposit another P20,000 to continue in the program.
Elle's suspicions were confirmed when she was later asked to send P100,000 more for another "task," which supposedly would earn her P200,000 in return. Elle panicked as her savings were nearly depleted and even took out a loan from a Facebook loan app to cover the additional amount.
Racu 7, a radio station in Cebu City, is investigating the case and coordinating with GCash to trace where Elle's money was sent. Racu 7 plans to file charges against the scammer. Elle hopes the scammer gets caught and her hard-earned money can still be recovered.
Elle admitted her mistake and urged others not to trust people easily when money is involved. She warned, "These scammers are very convincing. They will pressure you and make you believe that it's a legit opportunity. But always remember, if it's too good to be true, it probably isn't."
To avoid falling victim to similar scams, it is essential to verify the credentials of any investment opportunity and be wary of unrealistic promises. Always do thorough research, ask for documentation, and consult authorities if in doubt. Remember, legitimate investments require transparency, due diligence, and regulatory compliance.
- The general-news in Cebu, Philippines, reports a personal-finance tragedy as a 24-year-old woman, Elle, fell victim to a crime-and-justice Facebook investment scam, losing P76,000 to entities like MP Digital and Shanaiah Francisco.
- In the realm of finance and personal-finance, Elle's unfortunate experience serves as a stark reminder to be cautious when encountering enticing investment opportunities, such as the one she received under false pretenses from Patricia Balagtas.
- To curb the prevalence of investment scams like those seen in Cebu's crime-and-justice sector, it is vital that individuals practice due diligence and critical thinking, ensuring that their investments align with accepted financial practices and do not involve unrealistic promises or hidden risks.
