P200 M in Aman assets frozen

MANILA, Philippines - The Anti-Money Laundering Council (AMLC) reported yesterday that at least P200 million in bank deposits of the Aman Futures Group Phils. Inc. had been frozen.

This is the amount covered by the freeze order extended by six months by the Court of Appeals on Monday, lawyer Vicente Aquino, the council’s executive director, told the House committee on banks and financial intermediaries.

The committee’s inquiry into the Aman Futures pyramiding scam was prompted by a resolution filed by Cagayan de Oro City Rep. Rufus Rodriguez and his brother Maximo, who represents the party-list group Abante Mindanao.

The Rodriguez brothers said many of the victims of the Aman Futures group are their constituents.

Aquino said the hundreds of millions in investments amassed by Manuel Amalilio, owner of Aman Futures group, and his associates are held in at least 25 banks and one insurance company.

He said they are still verifying if there are other banks where assets of the group are hidden.

In the same hearing, National Bureau of Investigation (NBI) Director Nonatus Rojas disclosed yesterday that Amalilio, who had victimized at least 15,000 investors in the Visayas and Mindanao, is not a Malaysian as earlier reported but a Filipino.

“He is a Filipino born in Tarlac. He holds a Philippine passport,” Rojas said.

He said the government has already asked Malaysia to repatriate Amalilio, who is reportedly hiding in Kota Kinabalu in Sabah.

Rep. Rufus blamed government agencies like the NBI and the Securities and Exchange Commission (SEC) for failing to stop pyramiding scams.

“Natutulog kayo sa pansitan  (You’ve been sleeping on the job). We do not feel your presence in Mindanao. You have to be proactive, instead of reactive,” he told officials of the two agencies.

He said the Philippine National Police, which has presence in every town, city and province throughout the country, should help these agencies check and stop such scams.

The Aman Futures group has accumulated P12 billion in investments.

Another group led by Jachob “Coco” Rasuman, has amassed at least P300 million. Rasuman is now in NBI custody.

San Juan Rep. Joseph Victor Ejercito said the authorities should now move to have the frozen Amalilio bank deposits forfeited in favor of the group’s victims.

“Those assets belong to the victims. They should be returned to them,” he said.

DOJ probes local officials

The Department of Justice (DOJ) is getting a clearer picture of the role of local government officials in the investment scam of Aman Futures.

Another victim had implicated Pagadian City Mayor Samuel Co to the syndicated estafa charges against Aman Futures before the DOJ yesterday.

In a complaint referred by the NBI, Aman Futures investor Zaalica Adiong included Mayor Co and another local official, City Treasurer Flornina Gerona, among the respondents in her complaint for syndicated estafa against Aman executives led by

Amalilio.

Co, according to the complainant, issued a permit in July that provided a cloak of legality for the operations of Aman and that helped the trading firm in convincing more investors.

“For quite sometime Aman conducted its illegal operation without the necessary permit from the mayor’s office of Pagadian City. However, on July 27, 2012 Mayor Samuel Co issued a temporary permit to Aman, despite knowing fully well that Aman does not have secondary license that is necessary for it to conduct its operation, which was collecting cash investments from the public,” the complaint said.

“That paved the way for Aman to conduct its operation in Pagadian City with a semblance of legality,” it added.

Adiong, who lost P3.2 million to the Ponzi-type scam, said Co’s link to Aman became clearer when he “tried to amicably settle the case of the complainant when Aman collapsed.”

She said Gerona represented the mayor in collecting investments for Aman. She submitted as proof receipts corresponding to her investments signed by the city treasurer.

The complainant also named as respondent a certain Haide Sepada, Co’s staff stationed at his house in Tiguma.

Just like in earlier complaints, six members of Aman Board of Directors – Fernando Luna, Leila Lim Gan, Eduard Lim, Willanie Fuentes, Naezelle Rodriguez and Lurix Lopez – were also implicated in the syndicated estafa case.

Last week, the DOJ had received two complaints against Co. Among the complainants were businessman Samsodin Ala, fire officer Fabian Tapayan Jr. and government employee Norolhaya Taha.

Co’s wife Pricilla Ann was also named respondent. The NBI probe showed that Mayor Co received investments from investors and even distributed checks to them.

Apart from Adiong’s complaint, the DOJ also received yesterday two more complaints from victims of Aman.

The first one was filed by 10 investors from Pagadian, Tigbao and Labangan in Zamboanga del Sur led by Armando Inego, who lost combined investments worth over P5 million, while the second complaint was filed by five investors from Ozamis City, Misamis Occidental led by Reinar Recamadas who lost over P49 million in combined investments.

The three new complaints brought to 15 the total complaints filed with the DOJ so far.

Last week, the SEC also filed separate charges of violations of Republic Act 8799 (Securities Regulation Code) against Aman and its executives.

Meanwhile, the special panel chaired by Senior Assistant State Prosecutor Edna Valenzuela has cancelled their scheduled hearing in Pagadian City today due to inclement weather brought about by super typhoon “Pablo.”  With Edu Punay