PAGADIAN CITY (Mindanao Examiner / Dec. 15, 2013) – Philippine authorities arrested a former mayor and his wife who were both accused as involved in a multi-billion trading scam in the country, reports said Sunday.
ABS-CBN television said former Pagadian City Mayor Samuel Co and his wife Priscilla were arrested by the agents of the National Bureau of Investigation while partying at a posh condominium in Taguig City.
Co has been ordered arrested by a court in Iligan City in southern Philippines. He was linked by authorities to the Aman Futures’ scam that duped investors of more than P12 billion last year.
The warrant of arrest was signed by Branch 1 Judge Alberto Quinto of the Regional Trial Court in Lanao del Norte. The politician, along with 9 others, is facing charges of syndicated estafa, and is not allowed to post bail.
Among those ordered arrested were Malaysian national Manuel Amalilio, founder of Aman Futures; Fernando Luna, Lelian Gan, Eduardo Lim, Welanie Fuentes, Naezelle Rodriguez, Lurix Lopez, Jerome Sanchez and Oliver Dequinto.
The mayor has repeatedly denied all accusations against him and blamed his political opponents for linking him to the P12-billion Ponzi scheme perpetrated by Aman Futures. Co insisted he was not part of the scam, but a victim.
Justice Secretary Leila de Lima said that based on documentary evidence, the mayor allegedly played a role in the scam.
Maria Dona Coyme, one of the finance managers of Aman Futures, who earlier surrendered to the authorities, also implicated Co and wife Pricilla Ann Fernandez, saying they allegedly sought investors for the group.
Amalilio has escaped last year to Malaysia after the collapse of his company, but had been arrested in Sabah on charges of holding a falsified document. Amalilio duped thousands of people in the southern Philippines by promising them 50% interests of all their investments. (Mindanao Examiner)
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