Quantcast
Latest Stories

Malaysia has agreed to help catch PH swindlers

By

MANUEL AMALILIO: Suspected mastermind disappears. CONTRIBUTED PHOTO

PHNOM PENH, Cambodia––President Benigno Aquino III said Malaysian authorities have agreed to cooperate with the Philippines in the capture of members of a syndicate behind the Aman Futures scam that victimized thousands of people including local officials in the Visayas and Mindanao.

“The ambassador of Malaysia to the Philippines said they will assist us. We don’t have issues with Malaysia as far as helping us catch the criminals,” the President told Philippine journalists at the Sofitel Hotel here.

Aquino added that he was still waiting for the result of a Department of Justice investigation into reports that many local government units were victimized by the scam.

He said the government was not remiss in its duty to issue sufficient warnings to the public even before the scam was discovered.

Aquino cited warnings issued by the Securities and Exchange Commission on its website as early as July, and by the Department of Trade and Industry in August.

Asked how the government could protect the public from similar scams, the President said his administration would continue to educate and warn people about the risks of investing in financial schemes that offer huge immediate returns without specifics on how the wealth is to be created.

“If somebody offers you a return of 30 percent per week, aren’t you supposed to wonder: What sort of business does he have that can earn more than 30 percent in a week to pay your interest on top of his own earnings?” Aquino said.

The National Bureau of Investigation said the Malaysian police are now looking for Manuel Amalilio, the alleged brains behind the Aman Futures investment scam who is reportedly hiding in Kota Kinabalu in the east Malaysian state of Sabah.

The Philippine Embassy in Malaysia said it will work with the Malaysian authorities to bring Amalilio back to the Philippines through international cooperation mechanisms. The multibillion-peso scam is believed to have duped some 15,000 investors out of around P12 billion in the Visayas and Mindanao.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Features , Foreign affairs , Fraud , Mana Futures , Police , Ponzi Scheme

  • w4d

    Sus, with P12 billion in tow, the suspect probably looks like a Hayden Koh right now, courtesy of a cosmetic surgery clinic in Makati…Need to grab him before he assumes another identity.

  • Vertumnus

    As long as there are greedy and stupid people, there will always be victims.
    They can’t seem to understand that there is no such thing as get rich quick.  For every one who initially make money doing this, there’s a hundred that lost it all.
    Human nature to be greedy. What goes around, comes around.

  • Lorebea Tamparong

    A – kala
    M – o 
    A – koy
    N – anloko???

    di ahh……….

    A – ng
    M -agnanakaw
    A – y
    N – awala na………..

    kaya…..

    A – pas 
    M – alaysia
    A – ng 
    N – ailad

    • AFPako

      Ano pang ibang acronyms na naisip mo , te ? Malayo Kayumangmangs will bluff your azzes again that they will try to catch this thief. Magdasal na kayo kay Santo Calungsod for real miracle to happen.  Hala sulong na ….

  • AFPako

    Basta kayumangmangs ay isip dilis. Akala nila makapera kaagad , that is only to attract you to investing your hardearned money to these scam artists. Once you put it in , then you are trapped and done for good. Charge to experience na lang mga kayumangmangs.

  • http://pulse.yahoo.com/_OJWHBJLMWPTRUOZMN6JOMHLO2A Banana Na

    dapat talaga mahuli ang head ng scams na eto, kung hindi ay next year ay siguradong may bagong scams din gagawin ng mga syndicates na ito, parang copycats ang nangyayari, ano kaya ang nangyari sa mga head and official na scams sa dating panahon, wala ng balita kung nahuli sila o hindi…bilib din ako sa styles ng takbo ng government ng PILIPINAS…

  • Hey_Dudes

    Agreeing is one thing but showing result of what has been agreed is quite another.  In more ways it is easier to agree knowing you can just let it gather dust until the agreement is long forgotten.

    In fact, asking assistance from the head of a country who’s citizen committed a serious financial scam affecting thousands of citizens of another country, is more of an embarrassment to Filipinos in general than of the plea for help being necessary.  In this regard, I blame the greedy folks back home more than the criminals who took them to the cleaners.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Napoles tags over 100 officials in pork scam – Lacson
  • Vitangcol to sue Czech envoy
  • Senator’s kickback from pork bigger than those of Enrile, Estrada, Revilla – Lacson
  • 43 out of 414 Etihad passengers yet to be found, tested for MERS-CoV – Palace
  • Sandigan junks Marcos family claim to Paoay property
  • Sports

  • Power Pinays yield to Japan in Asian Women’s Club volleyball
  • Caguioa blasts ‘no heart, soft’ Ginebra on Twitter
  • San Mig Coffee grinds out win over Alaska to force decider
  • UP nips St. Benilde; Adamson blasts RTU in Filoil women’s caging
  • Kevin Garnett responds to Raptors’ GM F word
  • Lifestyle

  • Entering the monkhood a rite of passage
  • Haneda International Airport: A destination on its own
  • Wanted: Beauty queen with a heart that beats for the environment
  • Kim Atienza: At home with art and design
  • Life lessons I want to teach my son
  • Entertainment

  • Bollywood Oscars, film stars come to Florida
  • Ex-Fox exec denies allegations in sex abuse suit
  • Kris Aquino backtracks, says Herbert Bautista and her are ‘best friends’
  • Summer preview: Chris Pratt enters a new ‘Galaxy’
  • Bon Jovi helps open low-income housing in US
  • Business

  • SM to rebuild Tacloban hospital
  • PSEi slips after 4-day rally
  • Toyota sells 2.58 million vehicles, outselling GM
  • McDonald’s 1Q profit slips as US sales decline
  • SEC approves SM’s P15B retail bond offer
  • Technology

  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Engineers create a world of difference
  • Bam Aquino becomes Master Splinter’s son after Wiki hack
  • Mark Caguioa lambasts Ginebra teammates on Twitter
  • Opinion

  • One-dimensional diplomacy: A cost-benefit analysis of Manila’s security deal with Washington
  • No ordinary illness
  • Reforest mountains with fire trees and their kind
  • Day of the Earth
  • When will Chinese firm deliver new coaches?
  • Global Nation

  • 19 Ukrainians, Russians, Filipinas rescued in bar raid
  • Filipinos coming home from Mideast must obtain MERS clearance – DOH
  • US Secret Service in Manila ahead of Obama visit
  • Palace thanks Estrada for successful HK mission
  • Hong Kong accepts PH apology; sanctions also lifted
  • Marketplace