Rasuman scam brains falls

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FORTRESS-LIKE An Army armored personnel carrier guards the Rasuman residence in Matampay, Marawi City, as authorities arrested Coco Rasuman on Tuesday. The Army had been guarding the house to prevent attacks by angry victims of the Rasuman investment scam. RICHEL V. UMEL / INQUIRER MINDANAO

The leader of the Rasuman group, which pulled off an investment scam said to be bigger than that of Aman Futures, was arrested in Marawi City on Tuesday.

Jachob “Coco” Rasuman did not resist when National Bureau of Investigation agents arrested him at his home at 2:15 p.m., said Senior Supt. Romeo Magsalos, the provincial police chief.

Magsalos said police and military tanks surrounded Rasuman’s house during the arrest. Rasuman was immediately transported to Cagayan de Oro City.

Jerome Rasuman, who, like Jachob had been charged with syndicated estafa, a nonbailable offense, along with nine others, was expected to “voluntarily surrender” to authorities, Justice Secretary Leila de Lima said.

NBI Director Nonnatus Rojas said Jachob Rasuman, who volunteered to be detained in his house under tight security for fear of his life after he failed to pay back his investors, would be brought to Manila and would be temporarily detained at the NBI facility.

Acting Gov. Mujiv Hataman of the Autonomous Region in Muslim Mindanao said the arrest was made even if Rasuman had promised to pay in February next year those who invested in the financial scheme.

“He has to face the law,” Hataman said.

Hataman said the arrest would ease tension in Lanao del Sur province because disgruntled investors would be satisfied with the government’s intervention.

Arrest warrant

Rojas said Rasuman was arrested based on the warrant, issued by Judge Bonifacio M. Macabaya of Misamis Oriental Regional Trial Court Branch 20.

The NBI chief said Rasuman was apprehended for syndicated estafa based on the complaint of Amerodin Hamdag Jr., of Eisenhower Street in Greenhills, San Juan City.

The NBI earlier said that the Rasuman group victimized fewer investors in its schemes than Aman Futures but got more money before it was shut down in July when it ran out of money to pay its investors.

Virgilio Mendez, NBI deputy director for regional services, said two weeks ago that “our estimate based on the investigation is that the Rasuman group got more money and have fewer victims compared to the Aman Futures.”

He said investors of Rasuman were moneyed people, while those of Aman Futures were mostly ordinary folk.

To drive home the point that the Rasuman group attracted large sums of money, Mendez cited a case in Cagayan de Oro City in which the group received P300 million in investment from 29 investors.

The Rasuman group itself invested its money in Aman Futures and lost everything, said Mendez.

Before it shut down, Aman Futures gypped some 15,000 people, mostly in Mindanao and the Visayas, of some P12 billion, according to the NBI.

The special panel of prosecutors tasked with investigating and prosecuting recent investment scams filed in court on  Nov. 22 a syndicated estafa complaint against Jachob, Jerome, their father and former Public Works Undersecretary Bashir Rasuman, Emma Amer Rasuman, Jeremiah Amer Rasuman, Jamirie Amer Rasuman, Jamila Rasuman Tomawis, Jalaima Rasuman Mangarun, Bashir Rasuman Jr., Amer Tomawis and Princess Aliah Tomawis Rasuman.

The 11 were identified as officers/owners/associates of NAD Auto Option Corp. and BDR Group of Companies and were charged on the basis of a complaint filed by 25 people led by their relative Abuamar D. Sambitory, who all accused them of conning them of P120 million.

In a news conference, De Lima announced the arrest order for Jachob and the arrest warrants issued against the 10 others.

Rasuman patriarch

She said authorities were still determining the whereabouts of the Rasuman patriarch but they had information that he was just in Manila.

De Lima said Jachob had sought protective custody with the 103rd Army Brigade after he failed to make good his promise to irate investors to give back their investments by Aug. 15.

“It is very important to secure the accused to protect them from angry investors and other elements that may take advantage of the situation,” De Lima said.

In its Nov. 22 resolution, the special panel of prosecutors said the complaint against the respondents were originally filed in the Office of the City Prosecutor of Cagayan de Oro City but was reassigned to them as mandated by its creation.

Nonexistent firm

The resolution said Sambitory complained on behalf of 24 others, who altogether invested P120 million in cash with NAD Auto Option, which the special panel of prosecutors said “in truth and in fact” was “nonexistent.”

They were assured of a return on investment ranging from 85 to 150 percent in 60 days. That meant the P120 million they invested was expected to yield more than P275 million in just two months.

Rasuman and the other respondents were able to pay the promised return of Sambitory’s personal investments fixed at 45 percent for February and April. The huge return prompted Sambitory to entice other relatives and friends to invest with Rasuman.

But in July, the respondents failed to pay the complainants. They also stopped their business operations and could no longer be found.

“By their modus, respondents, who are closely related to each other, showed unity of design and purpose in defrauding the public, including herein complainants,” the resolution of the special panel said.

“Their acts of holding out to the public that NAD Auto Option Corp. and BDR Group of Companies exist, albeit untrue, and successfully inducing them to invest and part with their money cannot be more clear.”

The NBI said the Rasuman group attracted more affluent investors because it was run by a legitimate businessman with ties to Muslim royalty.

Jachob, who founded the Rasuman group in 2010, is a known businessman in Iligan City whose interests included the sole distributorship of Holcim Cement in Mindanao, restaurants, car sales and fuel.

He is married to a Princess Tomawis whose family is also engaged in various businesses in the region, the NBI said.

Muslim areas

The Rasuman group operated in the Muslim areas of Tamparan and Marawi City, Lanao del Sur and Iligan City. Its investors were mainly Muslims.

Unlike the victims of Aman who became violent, the Rasuman case was resolved in a peaceful manner through the intervention of religious leaders in the area, Mendez said.

Before the downfall of Jachob, he was considered a hero because he improved the living standards of people who initially profited from his double-your-money scheme, according to Mendez.

Rasuman’s investment scam came to light only three weeks ago when the Aman Futures scam exploded in the media.

Buying, selling cars

Jachob began his investment scheme by getting into buying and selling cars to raise quick cash.

He would would buy a car with a market value of P100,000 at a higher rate of P150,000, but the seller had to wait for two months before the vehicle was paid, according to an NBI report.

Jachob, the report said, would then sell the car at a still lower price for quick cash, which he then used as capital to invest in other ventures.

In 2010, Jachob hired at least 50 agents to look for investors. The agents were promised an 80-percent return on investment. These agents in turn would promise investors a return of 40-70 percent, the NBI report said.

It said local officials were involved in the Rasuman scheme. With reports from Nancy C. Carvajal in Manila; and Richel V. Umel, Inquirer Mindanao

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Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • http://profile.yahoo.com/SAGKZON3CUMS2QVBSXOIK3KM64 J Mapagmahal

    Akala ko haram ang RIBA, bakit may mga muslim na gustong kumita ng malaki dahil sa INTEREST or RIBA?
    Both sides, all sides kahit anong lahi or tribo, na pag GREED na pag-uusapan they forget everything.

    • batangpaslit

      hahaha…
      at any rate, ganda ng ID mo Bro

  • http://profile.yahoo.com/H6CUDLMVQOYW4Y4HJPDXHBCFPE Apple

    Just invest in Apple stocks.

    • ApoLapullapu

      Investors who just want to earn while sitting pretty should learn that the safest place to invest is in the stock market. The returns are not as big though but there are very few instances that scams like the BW Shares occur.

      • http://www.dafk.net/what/ Kilabot ng mga Balahibo

        BW i remember, and how Cayetano tried to do a pontius pilate.

    • Mrjager23

      Nope. Will short it rather.

      It is starting to lag in sales due to over saturation and lackadaisical product development vs the Android.

    • http://on.fb.me/16z14Nv Angel Divera

      Haha it is slowing down now, as FB announced it will have only full support to Android and urge all its employees to use only Android phones. Only twitter likes Apple, so go twit twit with your money.

  • http://pulse.yahoo.com/_47AS3MXEHKUW6IEMD5W3CCDWKQ gary

    There is a saying, if buying jewelry and know nothing about jewels, know the jeweler.

  • monATmex

    a fool and his money are soon parted. it seems there are more fools in mindanao. i wonder why?

    • http://www.facebook.com/ed.elric.549 Ed Elric

      there are more suckers in Luzon. know y? because there’s just freakin’ too many people there. Nobody even bothers to keep track on the fools.

  • http://profile.yahoo.com/SZYK2PICBGZRAQXYXC4VSH2TVA Bart

    Hopefully kapwa Muslim ang niluko!!!

  • ApoLapullapu

    Sa mga pangyayaring ganito walang niloloko.  Puro napaloko ang mga biktima.

  • anu12345

     “It is very important to secure the accused to protect them from angry
    investors and other elements that may take advantage of the situation,”
    De Lima said”

    Pinabayaan na lang muna sana sa mga nilokong kapwa ganid. Para maglabo-labo na.

    • http://www.dafk.net/what/ Kilabot ng mga Balahibo

      pero, diba, if that happens at biglang mamatay yung accused, pano pa ma rereturn yung pera sa mga victima. diba mas lalong malaking problema kung gayon?

  • angtangamo

    Wow ang ganda ng bahay. Sa Pilipinas lang talaga nagkakamali ang kasabihan na “crime doesn’t pay!”

  • kigol

    butiki lang ang size ng kurakot na taga mindanao…sa luzon at visayas buwaya….yan bahay na yan ordinaryo lang yan sa luzon at vusayas

  • JuanTamadachi

    Off with his head!!

  • http://www.facebook.com/jake.dionisio.5 Jake Dionisio

    Scam was scammed by a scam. Win talaga mga tao.

    • batangpaslit

      hahahaha..

  • http://www.ninoyandcory.gov.ph/ It’s No Time To Doubt Now

    Thanks to our beloved President PNoy for ensuring that the rights of the accused are equally protected as enshrined in our constitution. The absolute rule of law and not the tyranny of the mob will make us a gentler kinder nation. The money lost by investors did not disappear into thin air. It is just somewhere out there sitting electronically in some offshore bank account which will eventually find its way back to the Philippines. With our dear leader PNoy’s strong magnetism, he’s been drawing in such a deluge of hot money and inflow of foreign direct investments. That money will have to ultimately find a worthy investment or risk the loss of its value over time. The time value of money in cash is negative unless we’re in a deflation. If it chooses to be converted into gold to stave off inflation or debasement of USD, it will still have to return to our shores as we have the wealthiest gold mines than any other in southeast Asia. Such is the beauty and wonder of the Philippines. With our dear leader PNoy at the helm, even scammers just couldn’t resist to call this country home.

    Sa Daang Matuwid, wala kang talo. Halina’t go with the flow. Go with Daang Matuwid.

    and may I humbly suggest:
    vote straight LP in 2013
    Ninoy 2.0 = Bam Aquino

    To our national superhero Ninoy, Blessed Mother Cory and their only begotten son PNoy, you have the absolute love and support of the Filipino people.

    • Albert Einstien

      mas MALALA ka palang TROLL sir, political troll kp..paulit ulit lang naman sinasabi mo..malakas ka lang sa mga MODERATORS….lol

    • http://profile.yahoo.com/MLD4OKCRPD4PLQOEWMYBRELWG4 Cola

       Ang daang matuwid ibig sabihin, ang datong derecho sa Malacanang. he he he.  Tanggalin ang ibang matiwali na kawani at para maniwala ang mga Pilipino.

    • Albert Einstien

      dapat moderator ipag bawal nyo din ito si bam bam….sya nga yun iILLEGAL  ang ginagawa..BAWAL pa ang ELECTION CAMPAIGN di ba?….papano na pag nanalo yun mga ganito wala ng batas batas…puro palusot na lang ba?

    • VindictivePanot

      Lintek! ikaw na naman! STFU!

  • http://pulse.yahoo.com/_YAB42FXZYNCU3ODZNRCDRDTGAY MORE HUMAN

    ang kawawa nito ang mga kapatid natin na muslim… tsk tsk… inuuto uto lang sila ng kanilang mga datus….

  • $26606290

    bumabawi ang doj a. caught with their pants down with Aman. kung di sumabog di matutunugan…..baka nagbibingibingihan mga bata nyo sa nbi dun…o di kaya inestor din.

  • http://profile.yahoo.com/MLD4OKCRPD4PLQOEWMYBRELWG4 Cola

    The investors knew that it is impossible to earn 85% to 150% in 60 days but they still invested.  They have only themselves to blame. 

  • http://pulse.yahoo.com/_NMM3BZ5SAKNWSIDYG3BSIOFNKY Stephen

    Love of money…the root of all evil. Sometimes these investors are just too greedy. They want more money at a very short span of time. Hope you will learn from that mistake. Good luck on your investments if….you can get it back.

    • batangpaslit

      ang mga naunang nag “invest” ang nag enjoy. patikim yon eh. ang problema, kung nag “roll” sila at nawala pati ang principal at tubo
      chuckles…

  • Mrjager23

    “Magsalos said police and military tanks surrounded Rasuman’s house
    during the arrest. Rasuman was immediately transported to Cagayan de Oro
    City.”

    Tank – is a TRACKED armored fighting vehicle.

    I don’t see any tank(s)!

    • Magsasaka

       yeah it should be APC

    • batangpaslit

      hindi marunong mag bigay ng precise description ang nagsalita
      Hummer yata ang naka parada a haus?

  • resortman

    All the same stories..the government acted after the crime has been perpetrated…parang sine, sa huli dumadating ang pulis!
    All of this scams are testimonies of the failure of the Goverment, Media and civil society groups…walang nagtrabaho, walang nakialam..ngayon na lang….haay Pinas..!
    For anyone to live in this modern world is for them to trust institutions to do their jobs…for nobody in his own abilities and knowledge can do it alone in this complicated world…..
    ” Peacefull living is not the work of one person but of everyone in cooperation”!!

  • adamson11

    Good times are here again sabi ng mga high end lawyers!! First ito, second the upcoming election where every candidates need a lawyer in case matalo eh!!!!

  • linobog

    FREEZE ALL THEIR ASSETS IMMEDIATELY,

  • Bengatibo

    Dapat masintensiyan nang reculsion perpetua with hard labor. Ang daming nasirang pamilya dahil sa scam na iyan.

  • http://on.fb.me/16z14Nv Angel Divera

    Quick cash is a simple idea of quick scam.

  • http://pulse.yahoo.com/_LLPTRPFUTYJXKI3KJS4B2UO4LI Jim De Garman

    even he would be in jailed forever..he has already rapes the fruit of easy money from the scam, the evidence is clearly manifest to his affluent mansion fully airconditioned, standing a top from all of those houses, nipa huts of poor victims by this devil element, he should return every single centavo he dig to conceal down to his throat.

  • Moh’dRyan Khadaff

    We warn our relatives who were victims of Coco Rasuman but they were deaf; They said he is the man, the  hero of the new generation; most of my relative consider themselves as Muslim but with this investment, they even defended it as Halal (Not Riba) usury…Good for them! robinhood stolen their monies from another illegal source…hahahahah!

  • http://pulse.yahoo.com/_L7PILUDK6IPFGJLJNCM2IROCRY Albin

    Rasuman brains fall. Needs transplant asap.

  • Rosa Salabia

    Bangis nga naman ng Army… Bantayan ang bahay ng salarin, at pabayaan si Palparan at ituloy ang extra judicial killings…. Kailan pa naging security guard ang Philippine Army?

  • Bongbong123

    What the hell is this in this country, The criminal are being protected by the army from the victims, not the victim to be protected by the army from the criminal. This is the kind of goverment we have her. tsk tsk.

    • Sandouk

      Need somebody to break the law, so that would be guarded by heavily armed soldiers.

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