Baktin gets hot cars from 'identity thieves'

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Friday, January 24, 2014

SUSPECTED carnap syndicate leader Ryan "Baktin" Yu may have received hot cars from the so-called "identity thieves" who were granted car loans and used it to purchase vehicles from automobile companies in Manila, a source from the Highway Patrol Group (HPG) in Davao Region said.

The source, who refused to be identified, said they have noted some 60 fraudulent accounts who have been granted car loans and had procured vehicles from various auto companies in Manila, some 10 to 15 of whom made a transaction with Yu.

The scheme involves a suspect who looks for a person with a good credit line or credit score. The suspect then fraudulently gathers the personal data of an unsuspecting victim and uses it to apply for car loans offered by banking companies. Once granted with the car loan, the suspect will just pay the down payment and will soon leave the succeeding monthly amortizations unsettled.


The suspect then procures the vehicle and sells it to the so-called "cornerman" who falsifies the documents for the vehicle before selling it to another.

Among the documents usually falsified are the Land Transportation Office (LTO) official receipt and certificate of registration. The cornerman also tampers with the engine and chassis number so as the authorities would have difficult time establishing whether the vehicle is tagged as stolen.

The source also said these "identity thieves" could possibly procure thousands of vehicles considering that car companies and banks easily get enticed with the credit line and paying capacity of the persons used by the suspects.

"Those who buy cars that were procured from this scheme become the victim since they don't have an idea whether or not the registration of the vehicle is authentic. Worse, those caught of buying hot cars could also be liable for Article 172 (Falsification by private individual and use of falsified documents) of the Revised Penal Code," the source said.

He also advised car buyers to thoroughly check the documents of second-hand car sellers or better yet have the documents checked by HPG to avoid being pinned with the criminal charges for violation of Article 172.

The source added this may be connected to a pending case at the Regional Trial Court (RTC) Branch 10 involving a claimant of a seized vehicle who is suspected to have an involvement in Yu's carnapping scheme.

RTC Branch 10 Judge Retrina Fuentes ordered the release of the Toyota Hilux with plate number UOS461 to the claimant Odessa Tiu Recto.

HPG, however, filed a motion for reconsideration as the claimant allegedly defaulted from her monthly amortization from the East West Banking Corporation and that the vehicle should be released to the bank instead. The claimant's identity was also questioned as she didn't appear in any of the court hearings and that her signatures in her IDs had inconsistencies.

Published in the Sun.Star Davao newspaper on January 24, 2014.

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