Regulatory authorities are considering holding investors of fraudulent investment schemes liable, saying they may have also indirectly or directly participated in the recruitment and investment solicitation activities of these scam operators.
Bangko Sentral ng Pilipinas assistant governor and Anti-Money Laundering Council executive director Vicente Aquino said that while they don’t want to inflict further damage on the investing public, investors of pyramiding or Ponzi schemes could likewise be held liable. But Aquino pointed out that this is still being studied.
He said some investors may have referred their friends or relatives to invest in these schemes, which involve some form of misrepresentation with respect to an investment opportunity.