Pagadian mayor faces scam raps

MANILA, Philippines - He allegedly acted as agent in a Ponzi scheme and offered a building owned by the local government to serve as the office of Aman Futures Group Phils. Inc.

For these reasons, Pagadian City Mayor Samuel Co has been charged in court for syndicated estafa in connection with Aman Futures’ pyramid scheme that allegedly duped some 15,000 investors from the Visayas and Mindanao of billions of pesos.

After preliminary investigation in the first of two complaints filed by investors against Co, a special panel of the Department of Justice (DOJ) found probable cause to include the mayor in a syndicated estafa case filed with the Iligan City Regional Trial Court yesterday.

In a 33-page resolution signed by prosecutor General Claro Arellano, the DOJ said Co “acted not merely as an investor but also as an agent of Aman.”

Investigators cited as proof a certification issued by Aman in August last year declaring him as “authorized agent” and his offer of a building owned by the local government for rent to Manuel Amalilio’s Aman Futures for its operations.

The DOJ also cited Co’s issuance of temporary business permit – in the form of certificate of payment of business tax – to Aman even before it submitted all necessary documents.

It stressed that Co failed to disprove the allegation of complainants that he had forged a deal with Aman by taxing each investment 4 percent and making the Ponzi scheme appear legitimate.

Apart from Co and Amalilio, also named accused in the new case – the third filed by the DOJ – were board members Leila Lim Gan, Eduard Lim, Willanie Fuentes, Naezelle Rodriguez and Lurix Lopez; and Amalilio’s wife and agent Abigail Pendulas.

The complaint was filed by the group of investors led by Julius Labunog, who invested a total of P29,633,000 in Aman in Iligan in August and September last year.

The DOJ is also investigating another complaint filed against Co last November by businessman Samsodin Ala, fire officer Fabian Tapayan Jr. and government employee Norolhaya Taha.