Some of the victims of the AGF Trading asked help from the local police after their CEO Pastor Agustin Fontillas went into hiding. (Contributed)
More than a hundred alleged victims of a “quick rich scam scheme” have sought police assistance in Valencia, Negros Oriental after its chief operating officer, a pastor, went into hiding.
Throngs of disgruntled investors of AGF Trading, reportedly based in Balugo, Valencia, reported the alleged scam set up by its chief operating officer, Pastor Agustin Fontillas.
Police Major Roger Quijano told PressOne.ph that some 101 victims have come forward to complain at their office. Aggregated investment of the victims is about P100-million pesos.
An investor, who requested anonymity, said they were easily swayed by AGF Trading because of the hardships they experienced brought by the pandemic.
Investors said after investing or “locking in” a minimum of P100,000 they are promised returns of at least a million pesos after a few months.
One investor gave AGF Trading P600,000 but was shocked to learn that Fontillas suddenly disappeared and that similar cases started to crop up across the province.
An AGF coordinator, in a report, said that he handles accounts amounting to P5-million pesos for Guihulngan City and the towns of Manjuyod and Bindoy alone. This does not account for other areas throughout the province.
Quijano said Fontillas, who made their church as headquarters of their operation, is no longer in Valencia.
No official complaints, he said, have been filed against Fontillas but victims are planning to file a complaint before the National Bureau of Investigation.
Victims were reportedly promised at least 30 to 80 percent returns in a minimum of a few weeks until after a few months. –Ryan Sorote