MANILA, Philippines – Education Secretary Armin Luistro warned teachers against investing in Aman Futures even before the multi-billion pyramiding scam unfolded, an official said on Monday.
DepEd Assistant Secretary Tonisito Umali said Luistro, aware that the government was already raising a red flag on the scam, issued a reminder to teachers against investing in the firm, led by Manuel Amalilio.
Amalilio, who was reportedly last spotted in Kota Kinabalu, Malaysia, is being accused of designing the scam that duped some 15,000 investors of at least P12 billion.
Some of the alleged investors include teachers, government officials and policemen. Most of the victims came from Pagadian City.
"Bago pa po lumisan ang may-ari nitong nabanggit (Aman Futures Group Phils. Inc.) ay pina-alalahanan na po, nagpalabas na ng pahayag si Bro. Armin Luistro sa kaguruan, sinabihan na ng mga opisyales, na huwag pong sumali dyan," Umali told dzMM.
"Ang nangyari kasi, hindi natin makumbinse ang iba dahil alam nila na ilan nilang kasamahan ay kumita."
Umali said like most of the investors, some of the teachers did not heed the warning due to the promise of a big investment turnout.
He said he received reports that some victims pooled their investments due to long lines in Aman Futures' office.
At least 8,000 complaints have been received by the National Bureau of Investigation against Aman Futures so far.
Justice Secretary Leila de Lima said a preliminary investigation on the matter is now underway.
Another alleged pyramiding scam facilitated by Coco Rasuman Investment Group surfaced even as the Aman Futures case has yet to be resolved.