Ex-Pagadian City Mayor, wife arrested for estafa | Inquirer News

Ex-Pagadian City Mayor, wife arrested for estafa

/ 12:15 PM December 15, 2013

Former Pagadian City Mayor Samuel S. Co. INQUIRER FILE PHOTO

MANILA, Philippines–The National Bureau of Investigation has arrested Pagadian City Mayor Samuel Co and his wife Priscilla Ann in Serendra, Taguig.

Both are facing syndicated estafa case in connection with the multi-billion Ponzi scheme of Aman Futures.

Article continues after this advertisement

“The Co spouses were arrested yesterday, Dec. 14 at 5:09 p.m. at Ashton 2 Serendra, Taguig City,” Justice Secretary Leila De Lima said in a text message Sunday.

FEATURED STORIES

She said the NBI received validated information that the couple is residing in a plush condominium unit in Taguig.

“Acting as buyers to gain access in the Serendra Towers, the NBI joint team closely monitored the couple that led to their arrest. They were caught while on board a vehicle,” De Lima said.

Article continues after this advertisement

The two are now at the NBI detention facility.

Article continues after this advertisement

The Iligan Regional Trial Court Branch 1 on April ordered the arrest of Co, his wife and several others. The case stemmed from the complaint of Julius Labunog, an Aman Futures investor, who claimed that his group was duped by Co and the firm’s officers for a combined amount of P29.63 million.

Article continues after this advertisement

Aman Futures is implicated in a P12-billion pyramiding scam dubbed as the biggest Ponzi scheme to date in the country.

Related stories

Article continues after this advertisement

3rd syndicated estafa complaint filed vs Pagadian mayor

LP local bet tagged in pyramid scam asks court to stop arrest 

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Mayor tagged in Aman Futures scam insists he’s innocent 

TAGS: Estafa, mayor, Pagadian City, Samuel Co

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.