Another double-your-money scam uncovered in Parañaque City

Another double-your-money investment scam was uncovered, which supposedly ripped off more than 100 residents in Parañaque City and in the Visayas to the tune of P100 million.

In a report on GMA News’ 24 Oras, the company involved is called Pilipinas Productions Entertainment and Recordings Inc. whose victims claimed is owned by barangay official Julio Jaime.

Jaime is supposedly from Barangay Moonwalk in Parañaque, and serves as president of the Barangay Councilors’ League of the Philippines, according to the report by Lia Mañalac-Del Castillo.

On Wednesday, Jaime’s victims asked the Department of Justice to block Jaime from the leaving the country.

On Thursday, the group saw Jaime trying to leave his house and stopped him.

Friday morning, however, Jaime was no longer around.

“Lahat ng sumasali dito sa Pilipinas Productions, lumabas. At siya, kausapin niya kami kung ano ang problema at huwag siya magtago,” ‘Donnie’ said, who according to the report stands to lose around P4 million.

Because of Jaime’s standing in the community, his neighbors trusted him with their savings, one of them entrusted to the barangay councilor around P2 million and gave up his job because of the promise of high returns.

Another victim, identified as Ronnie, said the promise of 30 to 100 percent in returns was so tempting that he invested the savings of his children that Jaime promised to pay back by December. — With Gian Geronimo/VS, GMA News