TOP > News > Chinese Firm Raided by Police for Running Crypto Scam Insisted It Is Not Doing Illegal Operations
September 20, 2019 Published

Grapefruit (GSI) insisted, apart from not operating illegally, via a letter to the BI that they hired the 4 Chinese Nationals named in the warrant based on documents these 4 submitted like passports, visas, etc.

September 20, 2019 – Grapefruit Services Inc, the company allegedly behind a cryptocurrency scam while operating as a locator with the Cagayan Economic Zone Authority, has denied being involved in illegal gambling and scams as charged by Philippine government agents. It insisted being an authorized service provider of Golden Millenial Quickpay (GMQ) which operates an offshore cryptocurrency business in the country.

According to Xingfeng Ou, Chief Operations Officer of Grapefruit, the original mission order only included four of the 277 Chinese nationals arrested during the raid at the company’s office in Ortigas by the Bureau of Immigration (BI) fugitive search unit, the Presidential Anti-Corruption Commission, and the Philippine National Police’s Integrity Monitoring and Enforcement Group.

Grapefruit (GSI) insisted, apart from not operating illegally, via a letter to the BI that they hired the 4 Chinese Nationals named in the warrant based on documents these 4 submitted like passports, visas, etc. GSI said they presumed they are not fugitives because they were issued passports and were given visas. “Also, the fact that they were able to pass through Chinese and Philippine immigration presupposes that they are not fugitives,” Mr. Xingfeng told the Philippine Daily Inquirer.

Read the entire story at the Philippine Daily Inquirer here.

Read the first article about the issue here. In the aftermath of the arrest, CEZA ordered a thorough investigation of Grapefruit and GMQ (the license holder). CEZA spokesperson Atty. Mike David said to ABS-CBN that GMQ as the primary license holder may lose its license if wrongdoings are confirmed by the investigators.

This article is published on BitPinas: Chinese Firm Raided by Police for Running Crypto Scam Insisted It Is Not Doing Illegal Operations

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