Hundreds lost money to multi-million pyramid scam in Mindanao - News Summed Up

Hundreds lost money to multi-million pyramid scam in Mindanao


COTABATO CITY, Philippines — Hundreds who got duped into investing on what turned out as a multi-million pyramid rent-a-car and money market business want the people behind it locked in jail. The soldiers were reportedly promised 20 to 30 percent monthly interests from the money they trustingly entrusted to Cassandra. Those in the second group had invested cash to Lahdin’s Marketing with a promise to receive more than 20 percent earnings in interests each month. “The vehicles coming from the first group were like bonuses for the cash investments of those who invested money,” Emblawa said. Officials of the Police Regional Office-ARMM said Saturday that the vehicles from the first group of investors were offered as “consolation” to the people who invested cash for Cassandra’s money market venture.


Source: Philippine Star September 29, 2018 10:07 UTC



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