Prosecutors in Baguio City, Philippines, have filed charges against a group of individuals accused of orchestrating a casino financing scam. Hector Pantollana, purportedly the leader of the Horizon Players Club group, and 15 others are set to face court proceedings following allegations of investment fraud amounting to at least $71 million. The investigation revealed that over 10,000 individuals from neighboring regions fell victim to the scam.
The charges against Pantollana and his cohorts emerged in 2023 after numerous investors filed complaints of financial deception with the National Bureau of Investigation of the Cordillera Administrative Region. Investors were lured into the scheme with promises of monthly returns on their investments in the casino financing venture.
Pantollana pledged substantial profits to the investors, approximately 5% of the turnover per month. However, these promises went unfulfilled, triggering a surge of grievances from the deceived individuals. The illicit operations persisted until Pantollana and his associates amassed an estimated $301 million from across the country.