Pyramid scheme mastermind sought

CEBU, Philippines - A manhunt is now being launched for the arrest of a person, who is living in Cebu City but has reportedly duped at least 10,000 people in Pagadian City, Zamboanga del Sur, in Mindanao, of around a billion pesos.

During a press conference last night, Department of Interior and Local Government Secretary Mar Roxas urged the public to report to authorities about the whereabouts of a certain Manuel Amalilio, chairman of Aman Future Trading and his accomplices.

Roxas said based on their records the address of Amalilio is at 99 Espina Village, B. Rodriguez St., Cebu City.  Some of his accomplices live in Pagadian and in Cebu.

Roxas said that based on their registration list, none of the victims are from Cebu but since the list is not yet complete, there could be Cebuanos who were victims of the bogus pyramiding scheme.

 Roxas does not also discount the possibility that some Cebuanos in other parts of the Visayas fell victim to the scam.

Aman Future Trading has only been operating for the past six months, but Roxas said the amount involved is already so huge.

The money invested by the victims were reportedly to be used to construct an airport and put up an oil importation business, among others.

Roxas added that several investors sold their carabaos, farmland, and other property just to invest in Aman Future Trading with high hopes to get a high yield of returns.

Roxas, however, admitted that with the massive complaints, they are still in the investigation stage and no formal complaint has been filed yet against Amalilio and his group.

The victims were not only the poor but also professionals who were lured to a high interest rate return of 30 percent to 80 percent of their investment in just two months.

“This is a massive pyramiding scam in Mindanao. Ito ay isang masagwa, pangit at malaking pangloloko sa mga kababayan natin. Manhunt continues hanggang masugpo ang ganitong pangloloko,” the newly-assumed DILG chief said.

Roxas said that the National Bureau of Investigation, the Department of Justice, the DILG and the Philippine National Police are closely coordinating in the investigation and the eventual filing of criminal charges against those who are involved.  —/BRP