NBI eyes special court for pyramid scam suspects

Government authorities are now working for the creation of a special court that would handle pyramid scam cases to ensure a speedy resolution of the case.

Elfren Meneses, chief of the National Bureau of Investigation-Anti-Fraud and Computer Crime Division (NBI-AFCCD), said the creation of special courts for pyramid scam cases also hope to let the victims recover what they have invested.

"There are efforts to work for the creation of special courts to handle pyramid scam cases to ensure speedy resolution of the case and help the victims recover what they have lost," Meneses said.

AFCCD is one of the bureau’s units handling pyramid scam cases involving more than P120 billion invested by about two million individuals. Of the P120 billion, NBI Director Reynaldo Wycoco said Multitel of Rosario Baladjay accounts for P20 to P25 billion, Mateo Management Group (MMG) for P20 to P25 billion; and Tibayan for P2 to P3 billion.

This developed as the NBI is also eyeing the help of the Philippine National Police (PNP) in securing some counselors of Rosario Baladjay’s Multitel pyramid scam. – Cecille Suerte Felipe