Quantcast
Latest Stories

NBI probers believe Aman was preceded by even bigger Rasuman scam

By

MANUEL AMALILIO: Suspected mastermind disappears. CONTRIBUTED PHOTO

MANILA, Philippines—Before Aman Futures, there was the Jachob “Coco”’ Rasuman group in Marawi City which, according to the National Bureau of Investigation, got even more money from its investors before it was shut down.

Virgilio Mendez, NBI deputy director for regional services, noted however that Rasuman’s group, which was founded in 2010, had a much smaller number of victims compared with Aman Futures, headed by Manuel Amalilio.

“We cannot at this time commit to an exact figure but our estimate based on the investigation is that the Rasuman group got more money and had fewer victims compared with the Aman Futures,” Mendez said.

Rasuman got more from its investors, Mendez said, noting as an example that Rasuman received P300 million from a group of only 29 investors in Cagayan de Oro.

“The investors of Rasuman were moneyed people, while those of Aman Ventures were ordinary people,’’ he added.

Mendez  said Rasuman and Aman Amalilio had no personal relationship although Rasuman also became a victim of Aman Futures.

“They do not know each other. However our investigation showed that Rasuman, in a last effort to save his venture, invested all his money along that of his investors with Aman Futures and lost it all,” Mendez said.

According to intelligence reports gathered by the NBI, Rasuman is married to a Maranao royal, Princess Tomawis, whose family is  prominent in the region’s business community.

The reports portrayed Rasuman as a Marawi businessman whose businesses ranged from lone distributorship of Holcim Cement, restaurants, the buying and selling of cars, fuel and others.

“Before the downfall of Rasuman, he was considered a hero for raising the standard of living of people who initially profited from his double-your-money scheme,” Mendez said.

Mendez added that unlike the victims of Aman who became violent, the Rasuman case was “resolved in a peaceful solution through the intervention of religious leaders in the area.”

He said Rasuman’s victims were mostly Muslims  like him.

“The victims were urged by the religious leaders to stand down and give the family a chance to pay,” Mendez said, adding that Rasuman’s family promise to pay all the investors by February of 2013.

Mendez said Rasuman was now in the custody of the Philippine National Police.

The NBI report stated that Rasuman’s modus operandi was similar to Aman’s also differed in some aspects.

While Aman Futures started in the market, Rasuman began his by getting into buying and selling cars to raise quick cash.

He said Rasuman would offer to buy a car with a market value of only P100,000 for a higher amount of P150,000 but the seller would have to wait for two months before actually getting paid. He would then sell it at a lower price to raise money quickly to invest in other ventures.

In 2010, an NBI report said Rasuman hired at least 50 agents to look for investors and only he would deal with them. But eventually, for unknown reasons, Rasuman stopped accepting cash investments himself and assigned a trusted person to receive the money in his behalf.

The agents were promised by Rasuman 80 percent return on investment and these agents in return were to look for investors and promise them a 40- to 70-percent profit.

“The difference would serve as the commission for the agents,” the report said.

The report said all transactions were in cash and carried out in the privacy of Rasuman’s office  in Iligan City.

“Rasuman did not accepts checks from his agents; he signed an unofficial receipt acknowledging the investment after he was given the cash,” the report said.

Initially Rasuman and his agents “avoid bank transactions and only negotiate in cash.”

Bank transactions were used only if an investor  insisted on having a post-dated check as a guarantee.

Rasuman went around escorted always by armed men.

The NBI report also spoke of local officials who were involved in the Rasuman scheme.

Based on statements from those “in the know” these included mayors, a congressman and a military commander.

“We could not say yet if they are involved or victims” Mendez said.


Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Aman Futures , Crime , Rasuman , Scam




Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
  1. Enrile chief aide back in PH ‘to face charges’
  2. Gigi Reyes back to face charges
  3. SC suspends proctor in 2011 bar exams
  4. What Went Before: Enrile denies Gigi Reyes was ‘other woman’
  5. In the know: Gigi Reyes
  6. Henares on Pacquiao bashing: I did not start this
  7. At 77, Erap has Easter treat for Manila cops but keeps City Hall folk in agony
  8. Solons seek ample protection for bank depositors
  9. ‘No real progress in PH if dynasties not dismantled’
  10. More legal woes for Cedric Lee
  1. Kim Henares needs a reprimand, says Cayetano
  2. Suspect in Vhong Navarro mauling tries to leave PH
  3. More legal woes for Cedric Lee
  4. ‘No real progress in PH if dynasties not dismantled’
  5. ‘Mom, I love you,’ says text from student on sinking ferry
  6. Fr. Suarez says last Mass on Easter before returning donated land to San Miguel
  7. Enrile chief aide back in PH ‘to face charges’
  8. Massive infra spending set
  9. Henares on Pacquiao bashing: I did not start this
  10. I’ll follow my conscience on Estrada, says JV Ejercito
  1. KL confirms Malaysian Airlines Flight MH370 ended in Indian Ocean
  2. MRT passengers pass the hat for 6-year-old Ashley
  3. Rookie, lady cops lauded for quick response to MOA heist
  4. Malaysia averts another air tragedy; pilot lands troubled plane safely
  5. Revilla says he was joking; Lacson stands by his story
  6. Revilla ‘consulted’ Lacson on how he evaded arrest
  7. Police rule out foul play in Helena Belmonte’s death as boyfriend is ‘traumatized’
  8. Cudia, dismissed for lying, got 99% in conduct
  9. Model Helena Belmonte wished ‘to slash her wrist and hope to die’
  10. Hammer-wielding robbers cause chaos at Philippines’ Mall of Asia
Advertisement

News

  • Bad weather halts rescue after deadliest Everest disaster
  • Gigi Reyes has no other option but to turn state witness — Santiago
  • US weighing military exercises in Eastern Europe
  • Rains loom in Surigao as LPA nears
  • Sub search for missing jet to be finished in week
  • Sports

  • Nick Calathes suspension a reminder of supplement risk
  • Teague scores 28 as Hawks soar past Pacers in Game 1
  • Warriors beat Clippers in playoff opener
  • Pacquiao top Mayweather contender
  • Rain or Shine, Ginebra clash for No. 6 spot
  • Lifestyle

  • Noli Yamsuan, Cardinal Sin’s ‘official’ photographer: ‘I could smell the aftershave lotion of the Pope’
  • Simplifying and lightening life
  • Where to go for Easter night-out
  • Joe de Venecia visits the Queen Mother of Cambodia
  • Fashionistas flock to designer’s wedding
  • Entertainment

  • Show-biz celebrities’ other choices of summer getaway
  • Why ‘Noah’ can’t dock his ark at Philippine theaters
  • Acclaimed artist goes wild while on holiday
  • Believing in this mermaid
  • Missing Xian
  • Business

  • Top-selling insurance agent opens her dream café
  • Connecting and transacting with one another
  • Building wealth for health
  • Why Mandaue Foam buys, rather than rents, space
  • A workplace of new possibilities
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Epiphany
  • Unpaid creditor vs distressed debtor
  • Moving on
  • From culinary desert to paradise
  • Response to China: ‘Usjaphil’
  • Global Nation

  • Asia seeks Obama’s assurance in territorial spats
  • Cesar Chavez movie sparks memories of Fil-Am labor leaders
  • Filipinos in US poised for success
  • Visas for priests and other faith leaders
  • DOH to continue tracking co-passengers of OFW infected with MERS virus
  • Marketplace
    Advertisement