NBI arrests 3 suspects in bank loan scam | Inquirer News

NBI arrests 3 suspects in bank loan scam

/ 05:12 AM December 17, 2023

NBI arrests 3 suspects in bank loan scam

NBI logo over a shot of the facade of its headquarters

MANILA, Philippines — The National Bureau of Investigation has arrested three individuals allegedly involved in a bank loan scam in Quezon City.

The suspects, identified as Francis Eric Candido, Michael Reyes, and Marcelino Javier, were accused of luring individuals into obtaining driver’s licenses using false identities and subsequently using the licenses to get loans, as per the NBI’s investigation.


According to NBI investigators, the trio recruited individuals and convinced them to assume fictitious identities to secure bank loans with no intention of repayment.


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To add a veneer of legitimacy to their operations, the suspects even put up a shell corporation named Fuel Master Petroleum Trading Corp.

The suspects also rented co-working spaces and provided falsified employment records to bolster loan applications, NBI officials said.

The suspects now face charges, including 13 counts of falsification of documents, using fictitious names, and concealing their true identities under the Revised Penal Code and the Anti-Alias Law.

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TAGS: bank loan scam, National Bureau of Investigation

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