Manila News - A former Chinese executive of a Philippine Offshore Gaming Operator (POGO) was arrested outside a five-star hotel in Makati City this Thursday, on allegations of embezzling company cryptocurrency assets and multiple theft charges.
According to Philippine media, the police initiated surveillance after gathering intelligence and apprehended the suspect as he left the hotel. Makati police spokesperson, Captain Jennybeth Artista, stated, "Considering the arrest took place at a high-end hotel, we deployed plainclothes officers to avoid causing public panic."
The arrested man had served as the financial director of a now-defunct POGO enterprise. The police revealed that he faces at least 18 theft-related criminal cases, with the core accusations including the illegal appropriation of company funds and digital assets. Artista noted, "Intelligence indicates that he handled large amounts of company money and is suspected of transferring millions of dollars in cryptocurrency to private accounts."
The man appeared caught off guard when detained, telling the police that he had not received any formal charge notification. He responded briefly to media inquiries, stating that he would consult with his lawyer before deciding whether to make a public statement.
The police have transferred the case to the investigative department for further handling, and relevant units are tracing potential accomplices and the flow of funds. Makati authorities emphasize that this case is part of the potential criminal risks associated with the former POGO industry chain and will continue to intensify efforts to investigate such cases.
The suspect is currently detained and awaiting further judicial proceedings.
