AMAN futures scam victimized by close friend

CEBU, Philippines - Because he trusted a close friend, he invested his millions with Aman Futures Group Philippines Inc. just three months ago.

But Derrick Yap learned his lesson the hard way because the promise that his investment will be doubled in a month was not true and he even lost his capital.

Yap is one of the 10 Cebuanos who filed a case of large scale syndicated estafa against Aman Futures founder Aman Amalilio, its incorporators and agents.

The 10 complainants in Cebu who surfaced claimed to have invested over P100 million.

Yap said the amount he invested could have been used to expand his small business.

What made the situation more painful is the fact that the agent who convinced him to invest was a long-time close friend.

“It hurts and I realized that even close friends cannot be trusted.  I was enticed to invest because there is a guarantee from a close friend,” Yap said.

He said he  tried to contact his friend a month after he invested but his friend’s cellular phone could no longer be reached and all communications were gone.

His friend  is one of the respondents of the case that he and other victims in Cebu filed.

He advised others not to believe in “double-your-money”  offers that this is impossible.

The Cebu City Council has urged the Department of Trade and Industry and the Securities and Exchange Commission to conduct a public forum about pyramiding and how the public will be able to determine if a business is a scam.

The council also scheduled a public hearing summoning executives of DTI and SEC for this purpose.

Amalilio remains at large. The only hope left for the victims is Amalilio’s promise to return their capital in a video he posted  on Youtube. — /MBG (FREEMAN)