Some Pagadian victims fall for another pyramid scam

Posted at Nov 19 2012 08:06 PM | Updated as of Nov 20 2012 04:10 AM

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MANILA, Philippines - The National Bureau of Investigation raided another investment company in Pagadian City, believed to be a copycat and competitor of Aman Futures Group in the "double your money" scheme.

Justice Secretary Leila de Lima bared that the firm, Visioner 2020 International Traders, Inc., is a "newly-sprouted" group in Tiguma, Pagadian City involved in victimizing investors. The firm is said to be run by a British national, with help by local leader Glenda Andagan.

Some 20-30 people, mostly Maranaws from Lanao Del Sur, have complained against the firm.

NBI District Director Norman Decampong said initial investigation showed the company got an estimated P60 million from investors although they have information that the scam could run to a billion pesos.

He also noted that some of the Visioner investors had already been victimized by Aman Futures but had hoped to get their money back through the new company.

"Yung mga naloloko sa Aman, sa paghahangad nila na makabawi instead na maghanap-buhay ng maayos, yung iba nag choose ng quick return on their money kaya sumusubok na naman sila dito sa ganitong klase ng investment kasi iniisip nila, pagnakauna ka, makakakuha ka ng return," he said.

ANC TOP STORY, November 19, 2012