Operatives of the Criminal Investigation and Detection Group-Central Luzon raided a big gaming technology establishment in Bamban town, Tarlac, for an allegedly fraudulent cryptocurrency investment operation. | Jun A. Malig/PDI
CIDG-3 said the serving and implementation of the warrant were made at the company’s premises in Anupul village around 5 p.m. on Wednesday.
It said three other officers of the company—Yu Zheng Can, Zhiyang Huang and Thelma Larnan—remained at large.“As a backgrounder, Hong Sheng Gaming Technology Inc. allegedly operates fraudulent cryptocurrency investment scams shielded under the cloak of a permitted or licensed offshore gaming operation,” the CIDG-3 stated in its report.
On Dept. 16, 2020, the municipal council of Bamban allowed Hongsheng Gaming Technology, Inc. to establish and operate a “business of amusement, entertainment, recreation and gaming activities” in the town, “provided that the gaming activities conducted therein shall be exclusive only to their members and their community.”
The council stated in its resolution that Hongsheng had stated that it is registered with the Securities and Exchange Commission “although no copy of its registration was provided” to the local legislative body. Hongsheng is among the Philippine Offshore Gaming Operators or POGO licensed by the Philippine Amusement and Gaming Corp. to operate in the country.On its website, Pagcor listed Hongsheng as among the 22 POGOs with canceled licenses to operate as of Oct. 6, 2022.
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