On June 10, Philippine police busted an investment fraud and arrested 26 people, including their leader, in the capital Baguio City.

The group allegedly lured investors with promises of profits from their investments or donations.

Investigators said the suspects offered and sold unregistered securities in the form of investment contracts, disguising them as opportunities for investment or financial literacy programs.

During the operation, authorities seized 1,384,236 pesos (about 177,000 yuan) in registration fees and investments, as well as other evidence.

Authorities said the group included Jennylyn Delos Santos Floresca, 43, allegedly the chief operating officer and chief executive officer of Casa Infini Properties and Development Corporation.

Police said Floresca was also the chief operating officer and CEO of other companies, The companies were identified as Casa Infini Builders and Realty, Casa Infini Realty Management, Ray Education Directions Consultancy Services, Ray International Philippines Corporation, Be Unrivaled Productions and Sine Cordillera.

Floresca and more than 20 other suspects were arrested in a joint operation by the Philippine National Police's Cordillera Regional Anti-Cybercrime Unit (RAC-COR), the Presidential Anti-Organized Crime Commission (PAOCC) and the Securities and Exchange Commission (SEC).

Authorities charged the suspect with violating the Financial Products and Services Consumer Protection Act, which is related to the 2012 Cybercrime Prevention Act.

The suspect was also arrested at the Orchard Hotel in Baguio City, where a seminar on investment and guaranteed income from real estate was arranged.

The arrest stems from a complaint received by the SEC in January seeking the revocation of Casa Infini Properties and Development Corporation's registration certificate for alleged illegal activities.

The SEC issued a cease and desist order on June 8, directing CI Properties and Development to cease any further securities offerings. The order applies in particular to investment agreements related to real estate construction and leasing transactions, financial literacy education program cooperation agreements, contractual agreements, and any related online business.

The Commission also prohibits the company from conducting financial transactions through its depositary bank and from transferring, disposing of or transferring any of its assets and property.