In the midst of mounting accusations, Yexel Sebastian, a well-known toy collector and alleged investment scammer, took to social media to defend himself against the claims.

His appearance on the “Tulfo in Action” program on Saturday loomed on the horizon. Sebastian’s Facebook post seemed to be a preemptive move, challenging his critics while warning against baseless accusations.

In his Facebook post Friday, Sebastian seemed defiant as he stated, “People wala pa kaming statement ha, paalala lang. Ayaw ko lang bumalik sa inyo mga sinasabi nyo hindi nyo pa alam ang TUNAY na kwento,” (“People, we haven’t issued a statement yet, just a reminder. I don’t want to respond to your allegations until you know the REAL story.”)

His post quickly went viral, amassing over 22,000 reactions and 9,300 comments.

However, the backlash was swift.

Netizens criticized Sebastian’s boldness, especially since he had later admitted on the “Tulfo in Action” program that their investment scheme was nothing more than a “contract of loan.”

One netizen expressed disbelief, saying, “Jusmiyo! investment ang kinuha nyo mag asawa pero ang binigay niyong contrata contract of loan? Ano pa ba ang tunay na kwento? Imagine? using hard-earned money of other people for your comfort.”

During the viral confrontation between Sebastian and his aggrieved accusers, who believed they were “investing” their hard-earned money, Sebastian confessed that the scheme was, in fact, a contract of loan. He also claimed to be an investor himself.

Cumulatively, the total amount collected by Sebastian, his wife Mike Agustin, and their associates was estimated to reach a staggering P200 million.

Sebastian defended himself, stating, “Na-explain ko po sa Manila na amo rin po talaga, kami ni Mikes, investor kami po talaga” (“I explained to [the program host] that we’re also victims, Mike and I, we’re investors ourselves.”)

He further claimed that they had used their social media platform to attract followers, particularly overseas Filipino workers (OFWs), to invest.

“In-explain ko po na hindi po kami may-ari dito” (“I explained that we don’t own this.”) Sebastian emphasized, referring to the investment scheme, and added that someone named Hector Pantollana is the signatory and the actual owner of the business.

Recent reports reveal that the signatory Sebastian was referring to is Hector Baldwin Pantollana, who was recently involved in a multi-billion peso investment scam called the “casino junket scam.”

During the program, Sebastian mentioned Pantollana’s Horizon Players Club, which was shut down by the SEC via a cease-and-desist order on March 6, 2023.

Pantollana, along with other individuals, was implicated in questionable investments not authorized by the SEC, victimizing hundreds of unsuspecting “investors.”

However, one of the victims confronted Sebastian, asserting that they had not been informed about Pantollana and his involvement in the investment opportunity.

“Sino ba si Hector? Hindi namin kilala si Hector,” the victim said, indicating her skepticism regarding Sebastian’s claim that they were also victims of the scam.

“Kung umpisa pa lang ipinaliwanag niyo, maiintindihan po namin kayo. Bakit niyo kami tinaguan,” one of the victims said, alleging that she had invested a total of P2 million.

“Kung biktima ka talaga, sana tinulungan mo kami mag-file kay Hector. Pero hindi,” she added.

The victims revealed that some of the signatories on the contract of the loan provided to them included various names, including Pantollana, Sebastian, and Agustin. However, they all asserted that they had remitted their money to the couple.

When Sen. Raffy Tulfo, the program’s host, inquired about the whereabouts of the packets of money they had showcased on social media to attract potential investors, Sebastian claimed that the money was in their office.

He then asserted that the money did not belong to him, emphasizing that they lacked access to it.

Sebastian retorted with a firm “Wala po, sir Raffy,” when asked if they had access to the money.

“Pwede puntahan yan ng NBI?” Tulfo asked upon learning that the packets of money, seemingly consisting of P1000 bills, were stored in an office in Alabang. “Oo naman, sir Raffy…” Sebastian replied.

Tulfo pointed out that given the investment money’s use for casino gambling, it was highly likely that the investors enticed by the promise of a 5% monthly return might not receive any returns at all, considering the high-risk nature of the investment. Sebastian then admitted that he did not have the capability to fulfill his promise of providing a 5% interest on the investors’ contributions.

“Kaya nga, sỉ, bakit mo kasi pinanindigan na kakayanin eh hindi mo naman pala kilala si Hector talaga. Ikapp ang tatamaan dito kasi tumanggap ka ng pera,” Tulfo remarked.

Based on the confrontation, it became evident that the investment offered to the deceived investors was, in reality, a casino junket. This is commonly known as an organized gaming tour for high-rollers, where junket operators earn a percentage from the money gambled by junket players during their visit.

However, as admitted by Sebastian, the nature of the alleged investment was not clearly communicated to the investors, many of whom were overseas Filipino workers (OFWs) expecting at least a 5% monthly interest in return for their hard-earned money.

“If I were you, cooperate with the NBI, ibalik yong mga pera eh baka makakalusot ka pa,” Tulfo advised Sebastian, asserting that both Sebastian and his wife would likely face charges and jail time.

Sebastian, however, promised to cooperate, admitting that the viral photos depicting them with packets of money were for clout.

“Nagpa-picture lang po kami sa pera,” Sebastian stated, eliciting amusement from Tulfo and the victims in the studio.

Sebastian appeared to choose his words carefully when asked about the actual ownership of the money. However, when pressed, he simply stated that those packets of money were in the office of Mr. Pantollana.

An increasing number of OFWs have come forward, expressing their grievances that the promised investment returns offered by Sebastian have failed to materialize, leaving them in financial uncertainty.

It is estimated that the couple has allegedly amassed a staggering P200 million from soliciting illegal investments, enticing the public with the promise of doubling their money within a year.