Ex-cop swindling over P1B, arrested

Rizal, Philippines - Ex-Police Corporal Michael Yap, the alleged founder and operator of the Low-Profile Summit Corporation (LPSC) investment scam, was arrested by the combined government forces of the Criminal Investigation Group and the Philippine Army through a warrant with NO BAIL recommended.

The capture was made mid-afternoon of June 8, 2021.

In a report of CIDG Rizal, the detectives together with 404th A MC RMFB4A and ISAFP, AFP conducted manhunt operation which resulted in the arrest of the above-mentioned accused at Southville Subd., Brgy. Pinugay Baras Rizal Province.

Yap was reported to have victimized several Military, Police, Bureau of Jail Management and Penology, Bureau of Fire and Protection, and Coastguard personnel as well as Teachers, OFWs and Civilian Investors in different cities of Metro Manila.

The LPSC investment scam is alleged to have accumulated an estimated amount of not less than One (1) Billion pesos from investors from 2015 until the end of 2016. The modus is to offer a promising 15-20 % monthly interest rate giving no limit to amount of investment.

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