Marvin Favis Exposed an Alleged Crypto Scam Alongside Fellow Investors
Prominent crypto content creator Marvin Favis exposed an alleged crypto scam in one of the most popular YouTube channels in the Philippines, Raffy Tulfo in Action (RTIA). The crypto content creator and his fellow victims went to the show to expose the alleged scam involving around ₱72 million and asked for assistance from the host in filing a complaint.
The complainants claimed they were allegedly deceived by John Erwin Castro of Crypto Moon Trading, accusing him of misappropriating the funds. Marvin Favis, who invested ₱22 million himself, had collaborated with Castro to promote a crypto trading strategy on social media, attracting more investors.
Marvin Favis, a crypto-focused content creator on YouTube, Facebook, and TikTok, had previously collaborated with the alleged mastermind John Erwin Castro to promote a trading strategy on his channel, which generated more views and attracted investors.
In a January 19th episode of the show, Marvin Favis exposed the alleged scam and other complainants like Rhodora Capalad and Mabelle Tumala, accusing Castro of fleeing with over ₱72 million from more than 70 investors.
Favis revealed his investment of ₱22 million, a collective amount from various influencers. Due to his popularity among his peers in the crypto trading industry, he could easily pool some investments. He had initially met Castro in June 2021 to discuss cryptocurrency trading and later collaborated to promote Castro’s trading method on YouTube.
Based upon the complainants’ accusations, including Marvin Favis, who represented his fellow crypto influencers, Crypto Moon Trading, the alleged scammers promised a 25% return in three months, which was later reduced to 20%. Investors signed a contract resembling a loan agreement. However, many only received one payment, with subsequent payments ceasing.
Watch the RTIA Episode Featuring Marvin Favis
The alleged mastermind Castro, who also owns “Motobike PH,” a motorcycle dealership, was last in contact with the investors in August, after which he stopped responding. Along with Castro, his partner Rayla Rebuste, her sister Raya Rebuste, and his sister Jenila Castro were also named as involved in the fraud.
The viral Tulfo episode concluded with the investors’ decision to file an estafa case with the NBI’s Anti-Organized and Transnational Crime Division. The NBI also reminded the complainants to bring all the necessary documents upon filing the case against the alleged scammers, and the RTIA team is willing to help facilitate the case filing.
Who is Marvin Favis?
Marin Favis is best known in the crypto trading community as a leading crypto influencer with millions of combined followers on various social media channels. He is a celebrity in his own right. He made some social media headlines after offering at least ₱8 million to buy the Francis M collection from the famous Pinoy Pawnstars’ owner, Boss Toyo.
Marin Favis Tried to Buy Francis M’s Collection
Aside from crypto and forex trading educational content by Marvin Favis, he is also a seasoned entrepreneur investing in businesses like bars and restaurants in different parts of Metro Manila. He also owns popular hangout destinations such as Club Hype and Social Lounge in the nation’s capital region.
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