Barangay league prexy accused of running scamBy Nancy C. Carvajal
Philippine Daily Inquirer
The top official of the Barangay Councilors League of the Philippines (BCLP) has been accused of running a multimillion-peso investment scam that has defrauded people across the country.
A source in the National Bureau of Investigation told the Inquirer on Wednesday that the complainants claimed BCLP president Julio Jaime duped them and their friends into investing millions of pesos in Pilipinas Productions and Entertainment and Pilipinas Entrepreneurial Economic Development Corp. (PEEDC).
The Inquirer contacted Jaime’s office on Jamboree Street in Quezon City but was told by a woman named Sharipa that Jaime had not showed up for some time and she did not know where he was.
“We had no idea where he is and when he is coming to the office,” she said.
Jaime founded Pilipinas Production in 2010, and PEEDC in October last year, according to the NBI source, who asked not to be named as the investigation was in progress.
The source said most of the victims were young businessmen.
“The victims said they were encouraged to come out after the Aman Futures Group and Jachob Rasuman were exposed,” the source said, referring to two Ponzi schemes that went bust and were exposed earlier this month.
According to one of the victims reached by the Inquirer, the scam is “similar to Aman Futures Group.”
“We were enticed to invest for a 50 to 100 percent return on investment in 60 days,” said the victim, who asked not to be identified.
The victims also said the scam started last year and collapsed five months ago.
“We estimate the victims to reach at least 300 nationwide,” the complainant said.
In the beginning, the complainant said, Jaime was able to lure investors through a group that offered discounts to members in selected supermarkets.
Apart from discounts, the members also could earn points when they shopped and the points could be converted to cash and added to their investment.
The victims said Jaime promised to put up supermarkets to cater to investors in various part of Metro Manila.
The NBI source said Jaime also produced concerts and recordings and asked people to invest in those ventures, promising them big profits.
Tags: Barangay Councilors League of the Philippines , Entertainment and Pilipinas Entrepreneurial Economic Development Corp. , investment scam , Julio Jaime , PEEDC , Pilipinas Productions , pyramiding scam