3 nabbed by NBI for bank loan scam

MANILA, Philippines — Three men were arrested by the National Bureau of Investigation (NBI) for their alleged involvement in a bank loan scam in Quezon City.

Francis Eric Candido, Michael Reyes and Marcelino Javier convinced a person to secure a driver’s license using a false identity to obtain a loan, according to the NBI.

Probers alleged that the suspects recruited individuals to assume fake identities and secure bank loans without intending to repay, and created a shell corporation, Fuel Master Petroleum Trading Corp., to give a facade of legitimacy.

The suspects also engaged in deceptive practices, including renting co-working spaces and providing fake employment records to support loan applications, the NBI said.

They face 13 counts of falsification of documents, using fictitious names and concealing true name under the Revised Penal Code and the Anti-Alias Law.

The suspects also face charges of violating the Access Device Regulation Act of 1998, SIM Registration Act of 2020 and Cybercrime Prevention Act of 2012 before the Quezon City prosecutor’s office.