A warrant of arrest without the benefit of bail has been issued by a regional trial  court in Pagadian City against the officers of Aman Futures Group Philippines Inc. for the crime of syndicated estafa.

In a two-page order dated January 11, Judge Dennis Vicoy of the regional court in Pagadian ordered the National Bureau of Investigation (NBI) to arrest the accused who are all still at large and to present before the trial court the other accused under its custody.

Vicoy issued an arrest warrant on Friday against Manuel Amalilio, Fernando Luna, Nimfa Luna, Dhurwen Wenceslao (aliases Dharwin Wenceslao and Dhurwin Wenceslao) and Donna Coyme—all of whom remain at large.

“As far as accused Lelian Gan, Eduardo Lim, Wilanie Fuentes, Naezelle Rodriguez and Lurix Lopez, who are said to be under the custody of NBI, Taft Avenue, Manila, the NBI office is hereby directed to bring the living bodies of the said named accused to this court within a reasonable period of time for the issuance of proper order for their commitment at the Bureau of Jail Management and Penology, Lenienza, Pagadian,” the ruling reads.

The ruling was sent to the Department of Justice that indicted the Aman officials.

In a resolution, the National Prosecution Service of the Justice department stated that the investment scam, sprung by a group of individuals led by Amalilio under the guise of a legitimate corporation registered as Aman Futures Group Phils., Inc. “enticed investors by promising extraordinarily high returns on their deposits . . .”

The group is known to have operated in the Mindanao region, particularly in Pagadian, Zamboanga del Sur prior to, or on or about July 2012 and, before the issuance by the Securities and Exchange Commission (SEC) of a cease and desist order dated October 8, 2012, it succeeded in convincing members of the public—including lawyers, government officials, doctors, market vendors, drivers and small entrepreneurs alike—to part with their money.

It also states that “depositors were assured that their investment/s [are] safe because Aman Futures had, among others, a certificate of incorporation issued by SEC, a DTI [Department of Trade and Industry] certificate, a certificate of deposit from UCPB [United Coconut Planters Bank] of P300 million, a business permit issued by Pagadian Mayor Samuel Co, and even a resolution of the Anti-Money Laundering Council (AMLC) dismissing a complaint against Aman Futures.”

However, investors began to suspect something was amiss when, sometime in September 2012, the group stopped its operations and failed to pay the amounts due to the investors.

The special panel, led by Senior Assistant State Prosecutor Edna Valenzuela, determined that “Aman Futures was organized for the purpose of engaging in ordinary trading, but did not possess the authority to engage in commodity futures trading, management of funds or investments of any kind when it solicited and received funds for such purpose.”

The panel held that “it induced the general public to part with and deliver their money, as a result of which therein complainants suffered damages in the amount of P46,665,069.56.”

The charges against the other respondents (tellers, comptrollers, security escorts, encoders, security guards, etc.) were dismissed for insufficiency of evidence, while further investigation by the Exchange commission against the seven incorporators was also recommended.