MANILA, Philippines - The National Bureau of Investigation (NBI) has foiled an attempt by the primary suspect in a securities and stocks trading scam to avoid prosecution following his arrest at the Ninoy Aquino International Airport (NAIA) while he was about to board a flight to New York via Abu Dhabi.
Agents from the NBI Anti-Graft Division and International Airport Investigation Division arrested Marlon Lam See, alias Mark Lee Santos and Mark Lee See, while he was about to check-in for his flight.
He was served with a warrant of arrest for syndicated estafa with no bail recommended.
Department of Justice Secretary Leila de Lima said See duped his victims by almost P1 billion by misrepresenting himself as an expert in stocks and securities trading.
Lee allegedly promised them speedy returns of their investments within 2 to 3 weeks, plus profits of 30 to 50 percent.
His ploy discouraged his victims from withdrawing their investment and encouraged them to recruit more investors with the lure of checks representing huge profits and dole-outs of expensive cars and international trips.
Lee's victims include well-known personalities in the business and showbiz circles.
Despite the hold departure order against Lee, he managed to secure a ticket for his aborted flight to New York.
A deeper investigation is still being pursued to determine if Lee had accomplices in his modus operandi.