Former Justice Secretary Vitaliano Aguirre vehemently denied any involvement in what authorities have described as an ‘investment scam.’

The statement came after a high-profile arrest operation led by the Philippine National Police (PNP) Criminal Investigation and Detection Group (CIDG) that resulted in the detention of 20 individuals at a hotel in Makati on Sunday, PhilStar reported.

The individuals in custody are suspected of being connected to ProCap International Inc., a company accused of orchestrating a ‘pyramiding’ scheme, enticing investors with the promise of a ‘one-time return of investment.’

Among those arrested were 12 Filipinos and eight foreigners, consisting of five Singaporeans, two Malaysians, and one British national. The CIDG, in collaboration with the Presidential Anti-Organized Crime Commission and the Securities and Exchange Commission (SEC), spearheaded the operation.

According to the CIDG’s report, ProCap International Inc. was found to be in violation of Republic Act No. 8799, known as the “Securities Regulation Code,” as well as Republic Act No. 11765, also referred to as the “Financial Products and Services Consumer Protection Act.”

However, Aguirre, who was present at the event, staunchly asserted his innocence, claiming that he was not associated with the ProCap company, even though he acknowledged serving as one of their attorneys.

Aguirre insisted that the company’s program had been thoroughly examined and was legally sound, expressing his confidence that they would prevail in court.

During Duterte’s tenure, Aguirre, who served as justice secretary, gained notoriety for his alleged involvement in allegedly orchestrating the framing of then-Senator Leila de Lima.

This revelation stems from the recantation of Rafael Ragos, the Former Bureau of Corrections (BuCor) officer-in-charge, who had previously been a key witness for the Department of Justice (DOJ) in the case against De Lima. In May last year, Ragos withdrew his previous accusations against the senator, who had consistently claimed that she was unjustly detained on fabricated charges.

Ragos disclosed that he had been coerced by the then-Justice Secretary, Aguirre, into providing false testimony. This testimony included a shocking claim that he had transported a substantial sum, amounting to at least P10 million in drug money, to finance the 2013 senatorial campaign of former DOJ chief Leila de Lima. Furthermore, Ragos confessed that he had carried this false testimony to the House committee on justice during hearings on the Bilibid drug trade in 2016, consequently implicating Senator De Lima in a scandal that rocked the nation.

A video broadcasted by GMA News on Monday revealed company officials discussing their investment scheme with potential investors just as the police entered the scene. Among the attendees was former Justice Secretary and National Police Commission Vice Chairman Vitaliano Aguirre II.

CIDG director Maj. Gen. Romeo Caramat Jr. clarified that Aguirre was not among those detained, as he had been at the event in his capacity as a legal representative of the company.

The group is accused of luring clients with promises of lucrative returns on their investments, but as CIDG’s Lt. Col. Joey Caise pointed out, they allegedly failed to disclose that the money would be used through online casinos.

The suspects apprehended during the operation were subsequently taken to the CIDG at Camp Crame for further investigation.

They now face complaints for violations of the Securities Regulation Code and the Financial Products and Services Consumer Protection Act, charges that could have significant legal consequences.