Aquino vows to punish pyramid scammers

President Benigno Aquino III AP PHOTO

TAGAYTAY CITY, Philippines—President Aquino on Thursday vowed to bring the key players of the latest pyramid scam to the “bar of justice’’ as the number of victims in the Visayas and Mindanao mounted.

The President said the government would invoke the Mutual Legal Assistance Treaty with other members of the Southeast Asian countries to bring Manuel Amalilio, founder of Aman Futures Group Philippines Inc., back to the country to face investigation by the Department of Justice.

Aquino said that the National Bureau of Investigation has begun coordinating with Malaysian authorities to take custody of Amalilio.

“We will not stop. There should be justice,” he told reporters at the Taal Vista Hotel where he spoke at the Kapisanan ng mga Brodkaster ng Pilipinas management conference. “We need to bring these people to the bars of justice; that’s why there’s a manhunt for all those involved.’’

According to the President, the Mutual Legal Assistance Treaty was a mechanism available in the Association of Southeast Asian Nations, which the Philippines could invoke in Amalilio’s case.

Amalilio, whose Malaysian name is Mohammad Suffian Saaid, has reportedly fled to Sabah, Malaysia, with which the Philippines has no extradition treaty.

Other Aman executives facing charges are Fernando “Nonoy’’ Luna, Lelian Lim Gan, Edward Lim, William Fuentes, Naezelle Rodriguez and Lurix Lopez.

Justice Secretary Leila de Lima has formed a panel of prosecutors to help victims file cases of syndicated estafa, a non-bailable offense, against the operators of Aman Futures before the end of the year.

De Lima has also ordered a manhunt for the officials of the Pasay City-based firm.

Its thousands of victims include local politicians, police and military personnel, government employees, market vendors, farmers, drivers, retired employees and overseas workers.

The President said the NBI, Department of Trade and Industry, and the Securities and Exchange Commission had warned people of the pyramiding scam as early as July, but to no avail.

“As early as June or July, the DTI came out with announcement warning against this pyramiding scam,” he said. “When the NBI opened its investigation, the investors showed up to say they were ‘kill-joy.’ ‘Why are they putting a stop to this opportunity to earn big?’’’

“That’s why I want to stress that government agencies had warned against it before it got worse,” he continued, pointing out that investors of a similar pyramiding scheme in Marawi later moved over to Aman Futures.

The President advised the public to cooperate with the authorities to prevent such scams. Citing reports reaching him, he said that some 8,000 people had filed complaints about their losses, and the number of complainants sharply rose in October.

“Before no one wanted to cooperate as early as July. It’s a pity because we could have arrested all of them in July. The cases did not prosper because of the absence of witnesses; the ones who could provide the paper trail, and submit an affidavit to build up a strong case,” he said.