Over 60 teachers duped by ring giving 'easy' car loan for 'TNVS biz' | Inquirer News

Over 60 teachers duped by ring giving ‘easy’ car loan for ‘TNVS biz’

By: - Reporter / @FArgosinoINQ
/ 07:30 PM October 10, 2023

More than 60 teachers were duped by a syndicate giving "easy" car loans for a "TNVS business"

Stock image / INQUIRER FILES

MANILA, Philippines — More than 60 teachers in Pampanga, Bataan, and other provinces gave away their hard-earned money to venture into a business that would provide high-yield returns. Or so they thought.

On Tuesday, one of them came forward to reveal that they fell into the trap of a syndicate who offered them “easy” car loans for “investment” in transport network vehicle service (TNVS).


“Last April meron po kasing mga teachers na nag-encourage na mag car loan ‘yun daw pong mga unit ipapasok sa [isang taxi and delivery service company] so syempre nung sinabi walang problema at mabibigyan ka ng incentive nag-apply na po ako sa kanila,” Anna (not her real name), a teacher from Pampanga, told reporters in a phone patch interview.


(Last April, there were teachers who encouraged me to take a car loan, they said that the units would be entered into [a taxi and delivery service company], so of course when they said there was no problem and you would be given an incentive, I applied to them.)

READ: P155 M lost to over 8,000 online scams from January to August 2023

The modus of the syndicate involved luring individuals to avail of a car loan where applicants were asked to pay cash to cover the down payment for the vehicle with the promise of eventually receiving a passive income since the car will supposedly be used for TNVS.

The Presidential Anti-Organized Crime Commission (PAOCC) said the group is known as “Labas-Casa” which offers loan accommodations or loan balance assumptions for cars. It  also said that it appears that the fraudsters have connections with some car dealerships and bank employees to facilitate a pre-arranged loan approval.

According to Anna, she started to hear about rumors and reports that some “investors” failed to receive the promised P18,000 to P30,000 monthly income after the bank approved her car loan. Because of this, she tried to back out of the deal.

She informed the person who asked her to join the venture about her plan which eventually reached the purported ring leader identified only as “Al.”


READ: Public warned vs car loan scammers targeting public school teachers

Anna said she felt confident that the car dealer would not release the unit she purchased since she personally would not claim it and show additional documents like certificate of employment and pay slip.

But when she checked with the car agent, she was told that her unit was released to Al on April 25. She said she confronted Al about it, but Al denied receiving the car.

On August 15, Anna went to the Land Transportation Office in Bataan to stop the release of the car’s Official Receipt (OR), Certificate of Registration (CR), and license plate.

She further said that she discovered from a middleman that Al forged her signature and planned to sell her vehicle for P200,000.

READ: BSP warns public vs growing prevalence of auto loan scams

PAOCC Undersecretary Gilbert Cruz said Anna is just of the 60 teachers deceived by the gang. He said 17 teachers, including Anna, already filed a case against Al.

He also said that of the 17 teachers, six are from Pampanga, four are from Bataan, and others are from various areas nationwide.

Last October 6, the Department of Education said it received reports about the car loan scam that victimized public school teachers.

It issued a statement reminding teaching and non-teaching personnel “to remain vigilant against financial scams. ”

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DepEd also urged them to report similar or other incidents, or contact their Public Assistance and Action Center at 8636-1663 and 8633-1942 or email at [email protected] for help.

TAGS: car loan, PAOCC, Scam

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