SEC urges Aman Futures investors to file complaints

by Alvin Elchico, ABS-CBN News

Posted at Oct 11 2012 05:24 PM | Updated as of Oct 12 2012 01:54 AM

MANILA, Philippines - The Securities and Exchange Commission (SEC) appeals to investors of Aman Futures to file a complaint with the  government agency. 

The SEC issued a cease and desist order against Aman Futures group from soliciting investments from consumers as it is not allowed to do so absent any permit from the SEC. 

SEC spokesman Gerard Lukban says no one has come out to file a complaint against Aman Futures after they issued the CDO last Tuesday. 

Based on their investigation, Aman has already solicited P240 million from investors who were promised up to 60% interest on their investments. While the company has a license to buy, sell, trade and market of various agricultural trades, it is not authorized to sell securities or solicit money  investments. 

But Lukban admitted investors may find it hard to get their money back despite their freeze order on  the assets and deposits. 

At this point, the SEC has only found out that Aman has no license to sell securities or engage in getting money investments. 

Complainants must come out before criminal charges can be initiated if warranted. 

The SEC once again reminded consumers to be wary of offers of big interest on investments, saying if its too good to be true, it may indeed be untrue or bogus. 

ABS-CBN went to the address of Aman in Pasay where the SEC decision was posted. But there are no more officers at the office and only a handful of security personnel are manning there.