Aman Futures

In 2012, this organization was able to dupe some 15,000 people in Visayas and Mindanao with a
staggering amount of Php 12 billion (US$ 295,000,000 est.), the biggest scam the country has
seen. The owner, Malaysian Manuel K. Amalilio, escaped to Malaysia but was later arrested and
jailed for the possession of fake passport. He has yet to be deported back .
To lure the public into joining the network, the group used the “double-your-money” scheme.
There were about 8,000 complaints filed against the company .Its thousands of victims include
local politicians, police and military personnel, government employees, market vendors,
farmers, drivers, retired employees and overseas workers. Among the people who were fooled
were twenty one police officers and two fire officers. The system collapsed when the said
officers filed a syndicated estafa complaint against the company. They said they were promised
a return of their investment within eight days and a 50 percent to 80 percent profit for 17 to 20
days.

PDAF Scam

The Priority Development Assistance Fund scam, also called the PDAF scam or the pork barrel
scam, is a political scandal involving the alleged misuse by several members of the Congress and
Senate. The PDAF is a lump-sum discretionary fund granted to each lawmakers for spending on
priority development projects of the Philippine government. The scam was first exposed on July
12, 2013, pointing to businesswoman Janet Lim Napoles as the mastermind. after Benhur K.
Luy, her second cousin and former personal assistant, blew the whistle. Luy’s testimony has
expanded to cover Napoles’ involvement in a wider scam involving the misuse of PDAF funds
from 2003 to 2013.
It is estimated that the Philippine government was defrauded of some P10 billion of
taxpayers’money with the money diverted to Napoles, and other government officials The
scam has provoked public outrage, and has demanded the pork barrel be scrapped. Presently
Napoles and 3 Senators implied in the scam are now under litigation.
Legacy Group

The BSP describes the Legacy Group as a “swindling syndicate.” The late owner, Celso delos
Angeles, allegedly misused depositors’ money leading to the collapse of 12 rural banks and 3
pre-need firms. He siphoned depositors’money to finance his extravagant lifestyle and to pay
off government officials for protection.
As a lender, the group used the schemes “Motorcyle Loan Program” and “Investments Loan”
program to entice “fake borrowers” to sign loan documents in exchange for commissions. They
made it appear that funds were withdrawn by the “fake borrowers” but the proceeds were
actually deposited to another account controlled by Delos Angeles.

To attract depositors into the bank, the group offered the following :

 Double your money in three years

 Double your money in five years
 Double your money in six years
 Hybrid five years
 Hybrid six years
 3-Year-Buy-Back
In the double your money schemes, the deposits would yield 100 percent after three to six
years. It was offered in all rural banks affiliated with the Legacy Group.
The “hybrid five years” scheme, offered 20 percent per annum interest. The initial 20 percent
was given upfront to the depositor. Then they were given monthly interests equivalent to 20
percent interest per annum. On the fifth year, they get back their principal deposit.
For the “3-Year-Buy-Back” scheme”. deposits will double in three years and then the investors
will receive 12 quarterly post dated checks as payment of the investment in an amount that is
double the amount of the original investment. So attractive was the scheme that their bank in
Leyte was able to attract depositors even outside the Samar and Leyte areas.
As of September 30, 2008, the bank was able to accumulate P467 million in total deposits. But
in reality, the bank was already operating at negative net worth of P239 million. When it closed
on Dec. 12, 2008, the bank only had about P1 million cash on hand.
As of October 2010, the Philippine Deposit Insurance Corporation said it has already shelled out
a total of P11 billion to depositors.