Court of Appeals to decide on Aman Futures freeze

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The Court of Appeals (CA) Fourth Division will decide Monday whether to lift or extend a freeze order on the bank accounts of 23 executives of the collapsed Aman Futures Group Philippines, while authorities investigate their links to the P12-billion investment scam that duped over 15,000 people mostly in Pagadian City.

The hearing Monday is expected to take up the 20-day freeze order issued by the court on Nov. 20 on the accounts of the Aman executives in 25 banks and financial institutions.

The order, requested by the government, was granted to avoid the withdrawal of funds.

The Anti-Money Laundering Council through the Office of the Solicitor General sought the freeze, saying the bank accounts of the respondents were related to unlawful activities in violation of the Securities Regulations Code of 2000 and syndicated estafa laws.

The appellate court had set the afternoon hearing  “in order to determine whether or not the instant freeze order shall be modified, lifted or extended.”

According to Justice Secretary Leila de Lima, almost all the banks had complied with the appellate court’s order to submit information on the deposits of the respondents.

A special panel of prosecutors will be in Pagadian City on Wednesday to hold a preliminary investigation on the complaints.

The Securities and Exchange Commission last week filed a  complaint in the Department of Justice against the Aman executives for “illegally operating and engaging in fraudulent activities.” Christine O. Avendaño

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  • tata_boy

    kailangan indefinite ang freeze order sa mga akusado at dapat kasama ang lahat ng non-cash assets.

  • randyaltarejos

    Di kaya mag appeal tong mga 23 officers ng Aman by resorting to bribery so that the CA will lift the freeze on their money? Just asking because money is the root of all evils.

  • MangDolphy

    Nakakalula ang daming pera nito. 12 billion pesoses! Wow! Kung makakabilang ka ng isang million sa loob ng isang oras, 24hrs. a day at 7 days a week, aabutin ka ng 16.66 na buwan bago mo matapos bilangin ang 12B. Pati anghel de la guardia ng mga huwes puede mo bilhin sa ganito karaming pera.

  • moshki

    …i’m still very curious on how will the scammer transfer all of that money out of the country…or their intended plan of pulling this one off…

  • w4d

    Why is this even an issue? Isn’t the freeze order suppose to be indefinite and in full effect until after the investigation is complete to avoid anyone from transferring funds unnecessarily, which is the main purpose of the freeze?

    Ahhhh, loopholes the defendants are waiting to jump on…LOL…

    • batangsulpok

      Siyempre may magkakapera diyan kaya hindi indefinite ang freeze order

  • johndcross1

    Tingnan mo ngayon lang nakapag-file ang SEC ng complaint sa DOJ tungkol sa Aman.  Natutulog at bobo itong commission na ito.  Italsik ang mga pinuno at tauhan na nakatanga at kasuhan ng “derilection of duty” ang mga lintik na ito!

  • ztefertilizerscam9

    all the people involved in that operation,Freeze all their assets.

  • tarikan

    Di ba ang Court of Appeals muna dapat i-FREEZE? Mga katawatawa ang mga decision nila of late and of the recent past even of long past. The CA appeals to the moneyed class, forgive my French CA.

    • tata_boy

      maliwanag pa sa sikat ng araw na puro inutil ang mga nasa CA……

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