Bigger money involved in Rasuman pyramid scam – DOJ

Coco Rasuman. SCREENGRAB FROM YOUTUBE

MANILA, Philippines — Justice Secretary Leila De Lima said on Wednesday that the amount of investment involved in the scam operated by Rasuman was bigger than that in the scam perpetrated by the Aman Futures Group.

“Although a lesser number of investors are concerned in the Rasuman scam, the amount of investment there is bigger,” De Lima told reporters who said this was the findings of the National Bureau of Investigation (NBI).

De Lima said the “minimum” estimate capital of Rasuman was P1.3 billion but the NBI was still validating this if this was accurate.

This as the justice secretary said Jachob “Coco” Rasuman, the brains of the scam, was brought to the NBI office in Manila to ensure his safety.

“If he was just in Cagayan de Oro city, that was proximate or very near Lanao del Sur where the irate investors are located,” she told reporters.

She said the NBI and local authorities preferred that Rasuman stay in Manila for the meantime because of the “highly volatile atmosphere” in the province.

De Lima said that she has instructed the NBI to coordinate with the court in Cagayan de Oro now that it has arrested Rasuman and they would wait for the “appropriate commitment order to be issued by the court.”

She also said the NBI was working on the implementation of the arrest warrant of the 10 others who were charged for syndicated estafa along with Rasuman, including his father, former Public Works Undersecretary Bashir Rasuman, who are said to be in Manila.

“Maybe they will be forced to surrender,” she said.