This one doesn’t just happen in the Philippines but other parts of the world I have known it. Generally the scheme works two ways. First of all a business opens rapidly paying everything in cash, rent, suppliers etc. as people see money piling in they stop asking questions. This then quickly moves to disposing of stock under market value to offload the goods at which point the suppliers see a very busy business and open up a credit line which continues to expand as the business does. Then cheques start to default and the business has disappeared after either selling the stock or moving without paying any of its bills.
The other method is to scam people and its done by opening offers which can be too good to be true. E.g. taking in high value items such as laptops and offer “opening offer free memory upgrade and service of any computers within the next 24hrs”. As laptops get dropped off and people are told they have to either wait until later that day for it to be done or that it will take a couple of days the time delay in people’s thoughts keeps them away from the store. By the time they return the store is gone and so are all the laptops or whatever equipment it was that was brought in that day. This has even been done previously on shop viewings where a shop literally only opened up for a few hours as the owners of the building had given the keys to real estate agents who then asked the clients to take the keys to view the property.