A multibillion pyramid scam operated by Aman Futures Group Phils. Inc., is currently the center of investigation by the Natioanal Bureau of Investigation, Philippine National Police and Department of Interior and Local Government. According to reports, the get-rich-easily scam originated in Pagadian City with its initial center of operation in Mindanao. After its promising huge returns, more and more investors succumbed to the Aman Futures scam which eventually reached the Visayas region. It has allegedly duped over 15,000 investors from Mindanao and Visayas.
The pyramid scam, operated by Malaysian Mohammad Suffian Saaid aka Manuel Amalilio, intially targetted low-income investors such as tricycle drivers and market vendors but professionals and retired employees followed because of the promise of a high return of investment of 70 percent return after 1 week.
The modus operandi of Aman Futures was to offer a return through a postdated check of the entire sum of the investment plus a profit up to 80 per cent. With the huge increase in the number of investors, Aman Futures raised its required minimum investment from 1,000 to 200,000 pesos. This has resulted to most investors selling houses and valuable properties in order to meet the minimum requirement to invest.
The pyramid scam was deemed to be the cause of the increasing crime rate in the cities covered by its operation. It has resulted to altercations between families and relatives.
A lesson should be learned here. If an investment is too good to be true,most probably it is a scam.
