Rasuman’s pyramid scam a family affair, court case shows




MANILA, Philippines—The multi-million-peso investment scam perpetrated by Jachob “Coco” Rasuman was apparently a family affair.

This emerged after the Department of Justice recommended on Wednesday, the filing of syndicated estafa case not only again against Rasuman, his father, mother, brother and his wife but also for the first time his father-in-law and two other brothers.

The DOJ was expected to file the cases against Rasuman and relatives at the Cagayan de Oro City regional trial court on Wednesday.

It was the second time that the young Rasuman faced a syndicated estafa case since November 2012 where he and 11 others, including his father, mother, a brother and his wife were slapped with the same charges at a Cagayan de Oro regional trial court.

In two resolutions dated Jan. 10, the DOJ special panel of prosecutors and the National Prosecution Service recommended the new charges based on two complaints filed by Naim Sampao and Achmad Sangcaan who claimed they were duped of more than P30 million in investments.

In the resolution resolving Sampao’s complaint, the DOJ prosecutors said there was probable cause to indict Rasuman, his father and former Public Works and Highways Undersecretary Basher Rasuman; his wife Princess; his father-in-law Sultan Yahya “Jerry” Tomawis; his brothers Vice Mayor Maning Rasuman, Jerome and Basher Jr., for syndicated estafa under Article 315, par.2(a) of the Revised Penal Code.

“..(I)t would appear that Coco together with other respondents, being related to each other either by blood or by affinity, holding themselves as one group involved in the business that offered a minimum of 70 percent return of investment to entice more individuals to invest in their scheme is clearly guilty of fraud because, as it turned out, respondents’ business venture was false and, contrary to their assurances, they were not able to sustain paying the large amount of interest they undertook to pay to their investors despite demands,” the resolution said.

Based on Sampao’s testimony, he said Rasuman had enticed him to invest in his company while his wife would collect his investment if her husband was not there. Rasuman’s father and father-in-law also helped in encouraging investors to join Rasuman while his brothers acted as “associates/officers/agents of his business.

“They are implicated because of their active participation in managing, collecting, assuring and by their other acts designed to encourage investors to trust and invest in Coco’s business scheme,” the resolution said.

Sampao claimed he invested a total of P14.285 million but he said Rasuman owed him P26.1 million as this included his 70 percent return of investment.

In the second resolution that was based on Sangcaan’s complaint, the DOJ recommended the filing of syndicated estafa case against Rasuman, his wife, father, brother Basher Jr, his father-in-law and this time, his mother Emma.

The resolution said respondents “have participated and acted in conspiracy with one another in defrauding” Sangcaan, who claimed he invested P5.13 million and expected to be paid P15 million inclusive of his return of investment.

Only Rasuman and his father-in-law had submitted their counter affidavits, with Rasuman said he could not be charged of syndicated estafa because he was the sole proprietor of his business and conspiracy against him and his relatives cannot be proven. His father-in-law said he did not support Rasuman’s business or allow it to be operated in his gasoline station.

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  • http://pedestrianobserver.blogspot.com/ Political Jaywalker

    The family that scams together, stays together in…… jail! LOL.

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

       too bad walang coed na jail. ahahaha

      • $17848434

        Kung may datung may utung! May supply si Direc at the PNP Supt dyan!

      • AngelZone

        well let us just wait, dont be judgmental people. 

    • $17848434

      You sure about jail? Maluluto pa rin ang justice sa Pinas, di ba?


    NAKAKALUNGKOT…….isang angkan kasangkot sa panloloko ng kapwa nila para kumita. Negosyong panloloko at panggogoyo na kalimitan ay sa gobiyerno namamasdan. Malamang…. malamang yong naging Usec ng PW&H ang ulo ng hokus-pokus.

  • XY ZEE

    Si Liberal Party Mayor Sammy Co, mukhang abswelto na yata.
    Siya na ang nag-iisue ng checke noong huli kaya obvious na kasabwat siya.
    Pero mukhang lusot nanaman ang isa pang KKK.
    Iyan ang Tuwad na Daan.

  • http://profile.yahoo.com/P4PIU2AIGVXJNQ4UBH5X64MSFE mr

    Dapat dito idestino si Supt. Marantan paggaling at Dumlao para sila ang mangratrat sa mga  pamilya ng scammer na to at huntingin din nila si Amalilio at isetup n shoot out o ambush.

  • MaySenseBa

    The DOJ was expected to file the cases against Rasuman and relatives at
    the Cagayan de Oro City regional trial court on Wednesday.

    huh? as in Wed next week? Giving these guys one full week to go to Switzerland?!

  • princess soha

    hayyys dalhin na yan silang lahat s manila NBI.return back the money of all your investors to have peace.father in law of rasuman is a known businessman.he can help his son in law to payback the money invested to them even w/o the interest.marawi vity become a scary town after this scam.

  • http://pulse.yahoo.com/_7IGQYIPU6AFTVRJ742XT2X44M4 Jef

    Malas nga lang hindi nag invest yong mga senador 

    • magiting78

      hnd n kailangan mag invest…Pork Barrell lang clear n ang kita nila…pano pa yung mga lagay s investigation nila….susugal p ba sila kung clear n yung kita…lolz

  • http://www.facebook.com/profile.php?id=100002538867415 Fiel D. Alamodin


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