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PYRAMID COLLAPSES | Twenty people so far had fallen victim to double-your-money scheme in Toril

THE CITY Anti-Scam Unit urged victims to file a case against the “administrator” of the double-your-money (DYM) scheme that reportedly fleeced its investors of P51.5 million in Toril. 

City Anti-Scam chief Simplicio Sagarino told TIMES that as of Sunday, 20 complainants went to their office to seek help because they could no longer contact the person, who they only identified as the “administrator.”

“But we have advised them to go to Toril Police Station and put it on record then go back to our office to fill up a complaint form,” he said. “If they have documents, we asked them to bring them and attached these to their complaint forms.” 

Accordingly, in the double your money scheme, the “investor” will put up P20,000, which will double in weeks during the payout. The large returns lured a number of residents in Toril.

When asked how much money was taken away by the alleged admin of the DYM, Sagarino said they can’t still account for it because they are still waiting for more complainants to go to their office.

“We also don’t know to some on how much they had on ‘pay-in,’” he said, although “according to the complainants there is only one admin (administrator).” 

Moreover, Sagarino reminded Davaoeños not to invest in double-your-money or similar pyramiding schemes because it is bound to fail and they will lose their money.

“Their money will just get wasted. Make sure they should go to the office and seek advice on this kind of investment,” he said.

“Also, to those who had already invested and were not able to reach the admin, we encourage you to file necessary charges against the suspect,” he further said.

Meanwhile, Maj. Carol Jabagat, the Toril Police Station, said that they are set to file a case against the main perpetrator through regular filing. 

 

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