Revenge attacks in southern Philippines over Ponzi scheme
Fraud suspect reported killed after homes of manager's relatives burned
The Philippines is monitoring incidents of revenge violence in southern provinces where a 12 billion peso (HK$2.25 billion) Ponzi scheme may have duped at least 15,000 people.
Police are also investigating at least two cases of homes that were set on fire on the southern island of Mindanao, Secretary of Interior and Local Government Mar Roxas said in Manila.
"Since the houses were owned by people connected to the fraud, there's a reasonable linkage," he said.
The Philippine government had sought help from Malaysia and Interpol in arresting the suspected mastermind of the scheme, the National Bureau of Investigation said. Mohammad Suffian Saaid, also known as Manuel Amalilio, was believed to have fled to Kota Kinabalu, capital of Malaysia's Sabah state.
President Benigno Aquino has ordered an investigation into what could be the biggest Ponzi scam uncovered in the Philippines. Investors were promised monthly returns of as much as 100 per cent.
Anwar Alvin Zainal, an insurance agent believed to be an incorporator of the Aman Futures Group Philippines that operated the scheme, was kidnapped and murdered this week in Zamboanga del Sur, The Philippine Star reported yesterday.