Former mayor, wife linked to pyramid scam arrested

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FORMER Pagadian mayor Samuel Co, who was among those charged in connection with the pyramiding scam involving the Aman Futures group, was arrested by agents of the National Bureau of Investigation (NBI) on Saturday.

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According to Justice Secretary Leila de Lima, Co and his wife Priscilla were arrested in their condominium unit in Serendra in Taguig City.

The Department of Justice (DOJ) filed charges of syndicated estafa against Aman Futures founder Manuel Amalilio, Co and several others for allegedly duping 15,000 investors in the firm’s pyramiding or double-your-money scheme.

Co’s wife Priscilla was included in the charge sheet. A warrant for the couple’s arrest was issued shortly after the complaint was filed in July this year.

Also charged were Fernando Luna, Lilian Lim Gan, Eduard Lim, Wilanie Fuentes, Naezelle Rodriguez, Lurix Lopez, Mohammad Hassan Mackno, Dimasara Jova, and Ian Madarang.

The complainants include Samsodin Ala who invested P7.38 million in the pyramid scam, Fabian Tapayan and Norolhaya Taha. The three claimed that they were promised that their investments would earn high interest ranging from 30% to 40% in eight days or up to 63% to 86% in eighteen days.

Co was included in the complaint because of the certification issued by Amalilio who said that the former mayor and his wife were agents of Aman Futures.

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