These days, more and more people are being attracted in joining a lot of pyramiding. A pyramiding is an act wherein a certain person was promised that when he/she invests a specific amount of money he/she'll be earning a larger amount of money.
However, there had been a lot of cases wherein a huge number of people were scammed and their money was taken.
The Makati City Regional Trial Court Branch 56 has found Rosario "Rose" Baladjay and her late husband Saturnino guilty of 65 counts of violations of the Securities Regulation Code or SRC.
The court has sentenced the couple of 7 years of imprisonment for every violation count of SRC.
They were also forced to compensate their victims with a total amount of P8 million.
Rosario “Rose” Baladjay was known as the queen of pyramiding.
“Many of the complainants have refused to continue with the case because it had already dragged on for so long and they believe that their money will no longer be returned,” Sec Moserate said.
Source: KickerDaily
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