Pyramiding scheme?
Destura and Cantos went into hiding after a charge of syndicated estafa was filed against them in 2013. Destura is said to be a son of Pedro Destura, a mayor of Prieto Diaz, Sorsogon from 1969 to 1971. The younger Destura claimed that Marcos entrusted to his father a still undetermined tonnage of gold deposits in Switzerland.
Emmanuel Destura surfaced at Los Baños yesterday, this time identifying himself as the chair of the One Social Family Credit Cooperative.
The continuing presence of BBL in various parts of the country prodded the Securities and Exchange Commission to issue an advisory on April 6, 2017 warning all local government authorities that the company is unregistered, and that its modus operandi violates the Securities Regulation Code.
From the syndicated estafa charge sheet, it appears that the group’s modus operandi is rather straightforward. The initial recruits were tasked to organize events in the different localities in the country and were initially called participating leaders. They also had to pay the organization P2,000. They were told they would be prioritized once the Marcos wealth is distributed. In exchange for their contribution, they would first receive P1 million and then 30 days later, $1 million.
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