Philippine police raided a company suspected of encrypting fraud, Grapefruit, arresting 277 people

An agent of the Philippine Immigration Service, the Presidential Anti-Corruption Commission and the National Police Integrity Monitoring and Enforcement Team raided the office of Grapefruit Services Inc. on September 11. It is reported that the Philippine authorities received a reminder from the Chinese Embassy that the company has deceived thousands of investors in mainland China. Officials arrested 277 employees of the company, all of whom are Chinese citizens. Immigration Director Jaime Morente said that the Chinese government has cancelled the passports of all employees and that detained employees will be deported. A source told Grapefruit that it is an authorized service provider of Golden Millennial Quickpay Inc. Ltd., an offshore cryptocurrency company licensed by the Cagayan Economic Zone Authority (Ceza), but in a designated area. External operations, thus violating the financial regulations of the Philippines.