1. Aman Futures Pyramid Scam
Amount: $295 million
Year: 2013
This is officially the biggest rip off in our list of biggest accounting scandals in recent years in the Philippines. The huge sum was collected by duping some 15,000 people. Its owner fled the country, naturally, but was later arrested. How did he do it? Manuel K. Amalilio promised a return of their investment within eight days and a 50 percent to 80 percent profit for 17 to 20 days. Among those 15,000 victims, there were farmers, drivers, overseas workers, but also politicians and government employees. Ironically, some of them were police officers. Actually, it was them who first filed a complaint against Aman Futures and caused the project to finally crumble.
