MANILA, Philippines — A couple has been arrested for allegedly amassing P900 million from at least 56 people through an investment scheme using the cryptocurrency Bitcoin, the Philippine National Police (PNP) announced yesterday.

Arnel Ordonio, 27, and his wife Leonady, duped the victims by soliciting money with a promise of huge earnings, PNP chief Director General Ronald dela Rosa said.

“The couple amassed around P900 million from the victims who believed in their false promise of huge interest in a short span of time,” Dela Rosa told reporters.

Charges of syndicated estafa were filed against the Ordonios before the Department of Justice on April 6.

The couple was nabbed along Calle Crisologo in Vigan, Ilocos Sur on April 4.

Director Roel Obusan, chief of the Criminal Investigation and Detection Group (CIDG), said the suspects used a company called NewG as a front for the investment scam.

Obusan said with a guarantee of 30 percent earnings in just 16 days, the couple enticed the victims to join their business.

The scam is designed like a pyramid but using electronic money. Some of the victims became uplines or middlemen by recruiting other people.

Obusan said the Ordonios would give earnings for the first few weeks as bait and would disappear once they stashed away enough money.

Police said NewG is registered with the Department of Trade and Industry as a computer shop and not authorized to engage in investment schemes.

“This is a case of estafa and pyramiding,” Obusan said.

The victims surfaced yesterday at Camp Crame and demanded that the couple return their money.

One of the victims, Rosanne Maglunog, said their group lost P29 million to the scam. She herself lost P4 million.

“We started investing in November last year. By Dec. 18, the problems started,” Maglunog said.

The couple promised to return her money during the first week of January. When the suspects failed to repay her, Maglunog sought police help.

Some of the victims filed individual complaints against the suspects, who are being held at the CIDG headquarters at Camp Crame in Quezon City.