PHILIPPINES SENATE ATTACKS PYRAMID SCAM
Sept 2007- The Philippines Senate investigates the PIPC pyramid scam that stole and estimated $150 to $250 million dollars from citizens in an investment pyramid scam. Click here for press release.
BIGGEST PYRAMID EVER IN PHILIPPINES!
August 2007- Performance Investments Products Corp. (PIPC) paid commissions to “Consultants” that brought new investors to the Ponzi Scheme. That makes it a Pyramid Scheme. Information to date indicates that $138 million dollars were stolen. That figure is lower than the $250 million initially thought to have been stolen after the company's owner, Singaporean Michael Liew, disappeared last month. Some news sources have indicated that the Philippines National Bureau of Investigation (NBI) is going to indict some of the sales persons even if they are innocent investors themselves that just happened to innocently bring in others. Ouch! http://business.inquirer.net/money/breakingnews/view_article.php?article_id=83467
PHILLIPPINES SCAM
July 2006 -- One of my favorite countries! The scamsters are busy with Ponzi Schemes which are as bad as the Pyramid schemes that have been going around Manila.
PACQUIAO ACUSED OF PYRAMID SCHEME
May 2005-- Rod Nazario Pacquiao's business manager made public information that was alarming. Nazario said: "Pumasok sa pyramid scam. Pati jueteng gusto pasukin. Huwag, sabi ko illegal 'yan... Pumasok din yata. But after a few weeks, siya na ang may utang."
PHILIPPINES CRACKING DOWN PYRAMIDERS CAPTURED
Dec 2004 -- ONE of the suspected operators of the MMG big - big pyramid scam was captured in Santa Fe town, Romblon province, police said Wednesday. Ernesto Mateo was presented in a media briefing under armed guard to keep victims from getting at him. Also arrested was Raul Jamoralin a former manager of Mateo Management Group (MMG), Lomibao said. He was arrested in Pasig City. He has nine warrants of arrest for "estafa" (fraud), which were issued by an Iloilo City court.
PHILIPPINES AMLC NAILS SCAM ACCOMPLICE
Nov 2004 -- The Philippines Anti-Money Laundering Council (AMLC) lead by Solicitor General Alfredo Benipayo has asked the Court of Appeals to stop the release of more than $81,500 (about P4.56 million) in the Chinatrust Bank account of Arlene Bedayo. She claims to be honest and innocent but investigations indicate that she was an “account” holding dummy for Rosalie Baladjay who is quite often named in government and media as the “Pyramid Scam Queen.” Baladjay is facing several pyramiding scam charges. Those included Multitel International Holdings, RAB Realty Inc., Baligad, Five Vision Consultancy Inc. and Arrioral. Ed. Note: This poor woman will probably go to jail for “warehousing Pyramid Scheme Money. This is a constant danger of dealing with Pyramid scammers. Don’t do it.
WATCH DOG HERO STALKS PYRAMID SCHEMERS AND TERRORISTS
Almost $20 Million in Pyramid Scheme Dollars Frozen!
August – 2004 -- MANILA --Philippines -- Vicente Aquino patrols a covert front in the war on pyramid schemes and terror in the Philippines directing a platoon of combat accountants. In the covert operations wing of the Central Bank of the Philippines complex, Aquino and his Anti-Money Laundering accountants bravely track down drug dealers, kidnappers and pyramid-scheme scammers. On finding the criminals they quickly seize their illicit gains. They often get death threats from a broad range of crooks, terrorists and thieves.
PHILIPPINES PYRAMID SCAM DUO OFF TO JAIL
August 2004 - Quezon City -- Philippines -- A couple who are alleged associates of pyramid scam queen Rose Baladjay, were arrested on Thursday in Bulacan by National Bureau of Investigation agents. ...Scroll down to read story (newsbriefs at top)
HOW THE PHILIPINE PYRAMID CRUMBLES...
Apr 2004 -- Manila -- Philippines -- Easy money and get–rich–quick schemes attract suckers. They grow during "economic hard times" when people become desperate looking for “Easy Street.” Great article on pyramid schemes in the Philippines
PHILLIPINES NAILS SCAMSTERS
June 2004 -- Manila -- Philippines -- The Anti-Money Laundering Council (AMLC) seized more than $700,000 and more than 60,000 Japanese yen funds before it was shipped out of the country, it was learned Friday. AMLC executive director Vicente Aquino said the funds, currently held in different banks all over the country, were generated from various networking schemes or pyramid scams. Aquino said most of the funds came from Rose Baladjay of the Multinational Telecoms Investment Corp. and Ervin Mateo of the Mateo Management Group, two firms engaged in pyramid schemes.
EDITORS NOTE PHILIPINES
The Philippines are great, my second mother was from there. One of my favorite places to hang out with great laughing people.
