Major pyramid scam losses may reach P120-B – NBI

The amount of money lost to several major pyramid scams could amount to as much as P120 billion, the National Bureau of Investigation (NBI) said yesterday.

"We’re looking at about P100 to P120 billion in terms of the money they fleeced from their victims," NBI director Reynaldo Wycoco said, pointing out that the top three pyramid scam firms, among themselves, had gypped their victims of some P48 billion.

Of the P120 billion, Wycoco said Rosario Baladjay’s Multinational Telecom Investors Corp (Multitel) accounts for P20 to P25 billion; Mateo Management Group for another P20 to P25 billion; and Tibayan for P2 to P3 billion.

Wycoco said that only Baladjay has an outstanding warrant of arrest for syndicated estafa, a non-bailable offense. Others have outstanding arrest orders from the Senate for contempt, for their failure to attend the hearings of the Senate committee probing the investment scams.

The NBI chief said the bureau is verifying reports that a certain Arriola, a suspected colleague of Baladjay, has fled to Cambodia.

"They are (considered) fugitives from justice. We have asked Interpol (International Police Division) to check with its counterparts in Cambodia and other countries regarding these people’s whereabouts," he said.

Wycoco is confident that Evelyn and Ervin Mateo, who are on the Bureau of Immigration’s hold departure list, are still in the country. The Mateos own the Mateo Management Group.

He also urged victims of pyramid scams to file formal complaints to place the suspects’ properties under receivership. The NBI has requested the Anti-Money Laundering Council to freeze all bank accounts of those charged.

Wycoco noted that at least three police officers were among some 20 person charged by an initial batch of 2,355 investors who were defrauded of P633,595,033.83. These investors are different from those who filed their cases with the Philippine National Police in Camp Crame.

Of the suspects in various pyramid scams, only Baladjay and Maria Teresa Santos, who defrauded thousands of policemen, have been arrested and are now in jail.

NBI sources said the bureau is planning to file a motion with the Makati City regional trial court (RTC) branch 143 to have Baladjay moved to the NBI jail in Manila. She was supposed to have been released after yesterday’s Senate hearing, but was detained at the Senate since the hearing was not finished.

Baladjay was arrested last Tuesday in Pangasinan for violating Presidential Decree 22 on the strength of an arrest warrant issued by Muntinlupa City judge Noli Diaz.

"It would be a good chance for us to interview Baladjay if she would be held here, since many of Multitel’s victims are coming to the NBI to file their complaints," an NBI agent said.

As of Thursday afternoon, the Makati City RTC branch 143 issued a warrant for Baladjay’s arrest for 25 counts of syndicated estafa.

In a related development, Malacañang cautioned Cabinet members and other government officials from being unwittingly used in pyramid scams.

Presidential Spokesman Ignacio Bunye cited the case of Trade and Industry Mar Roxas II, whose videotaped official greetings were reportedly part of Multitel’s come-on to potential victims.

"Perhaps this should serve as a lesson for all public officials to make sure that their greetings or messages should be framed or worded in very general terms without endorsing the product," he said.