PAGADIAN CITY (Mindanao Examiner / Apr. 12, 2013) – The mayor of Pagadian City, Samuel Co, has been ordered arrested by a court in Iligan City in connection with the multi-billion trading scam in the southern Philippines.
Co, an ally of President Benigno Aquino who is running for Congress in the May elections, was linked by authorities to the Aman Futures’ scam that duped investors of more than P12 billion last year. Co’s wife, Priscilla, who was also implicated in the scam, is running for Mayor in Pagadian City.
The warrant of arrest was signed Thursday 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.
Co’s lawyers in Pagadian City reportedly received the arrest warrant, saying the politician is in Manila.
Among those ordered arrested were Manuel Amalilio, founder of Aman Futures; Fernando Luna, Lelian Gan, Eduardo Lim, Welanie Fuentes, Naezelle Rodriguez, Lurix Lopez, Jerome Sanchez and Oliver Dequinto.
Manila has previously said it would not give special treatment to Co.
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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