Workers apprehended in the raid of an online gaming center in Pasay City, Philippines, say they’re not guilty of violating the nation’s Securities Regulation Code. The workers, employed by a Philippine Online Gaming Operation (POGO), have been accused of cyber-scams and falsely luring investors.
The POGO hub known as Rivendell was licensed by the Philippine Amusement and Gaming Corp. (PAGCOR), the country’s gaming regulator. Its certification was voided after the group was found to be involved in illegal gambling and fraud.
Authorities said the accused “portrayed themselves as investors or ‘guide/helpers’ to entice clients into making investments in stocks and cryptocurrency, promising lucrative returns.” Rivendell has also been accused of illegally selling stocks and bonds.
According to Asia Gaming Brief, 23 of the 28 people arrested have pleaded not guilty. The others are awaiting interpreters to help process their cases. Most of the suspects were identified as Chinese nationals.
