Public warned vs car loan scammers targeting public school teachers
PAOCC Undersecretary Gilbert Cruz holds a press briefing in Camp Crame, Quezon City on October 10, 2023. INQUIRER.net / Faith Argosino
MANILA, Philippines — The Presidential Anti-Organized Crime Commission (PAOCC) on Tuesday warned the public of a syndicate allegedly tricking public school teachers into applying for a car loan scam.
PAOCC Undersecretary Gilbert Cruz said the “Labas-Casa” or Loan Accommodation/Assume Balance fraud operation is led by a certain “Al” (not his real name) and facilitated by his gang, which has already victimized over 60 teachers mostly working in Pampanga schools.
Cruz opted not to reveal the suspect’s identity, saying they have yet to file a formal complaint against Al in court.
“Hinihikayat ko po ang mga guro na nabiktima ng loan scam na ito na magpunta sa pinakamalapit sa kanila na police station dito po sa opisina namin or sa opisina ng Highway Patrol Group [HPG] idulog niyo na yung inyong reklamo,” Cruz told reporters in a press briefing.
(I am encouraging teachers who fell victim to this loan scam to report to the nearest police station, in our office, or HPG’s office and file your complaints.)
According to Cruz, the way the scam worked was Al would entice teachers to apply for a car loan that his gang would use to start a taxi and delivery service business. The suspect purportedly promised his victims a monthly return of P18,000 to P30,000 and a monthly payment to cover the amortization of the mortgaged vehicles.
Contrary to his proposals, Cruz reported that Al would sell these vehicles to others through an assumed balance plan without the teachers’ knowledge or approval.
On the other hand, teachers would either receive half to no return from this deal, leaving them in debt with commercial banks, where they applied for a car loan.
To aid the victims, PAOCC and the HPG have been investigating the case since May this year. They have already collected evidence and other useful information from about 17 teachers used for filing a complaint against Al and his associates before the Office of the Provincial Prosecutor of Pampanga on July 16.
However, PAOCC and HPG withdrew the case upon the advice of the provincial prosecutor of Pampanga since the vehicles purchased were released by car company branches in Bataan, Bulacan, and Cubao.
RELATED STORIES
P155 M lost to over 8,000 online scams from January – August 2023
Beware of person posing as President’s cousin — PAOCC
