(Pics) Wanted: Cyrus Hao of Royal Manchester Five (RMF) scam
March 11, 2008
The manhunt is on for 28-year-old Cyrus Yap Hao, said to be the president of Royal Manchester Five Trading Corp. (RMF), a foreign currency investment company that duped thousands of investors of money amounting to more than P2.1 billion (US$51 million).
Several investors trooped to the National Bureau of Investigation (NBI) this week to complain that the checks they are holding have been dishonored and that Cyrus Hao, who hails from Pilar, Sorsogon, and Renato San Juan, company vice president for marketing, could not be located. The two are feared to have already fled the Philippines on Tuesday, March 4.
Other officers of RMF — Vice Presidents Joesedev Colina, Edwin Rosas and Joseph Bualoy, and Vice President for Finance Rowena Uy — claim they have also been cheated, but investors say they do not believe them.
RMF is a currency-trading investment program that enticed investors with a guaranteed return of 4-5% every month. Minimum investment amount is P200,000 ($5,000).
Celebrity-investors said to be victims of the scam include professional basketball players and an actor. They are:
- Ginebra Gin Kings player Rafi Reavis (P8.9 million plus $330,485.40)
- Johnny and his wife Mary Ann Abarrientos (P6.9 million, plus another P2.5 million from Johnny)
- Mark Macapagal (P2.5 million)
- former Purefoods Hotdogs coach Eric Altamirano and wife Marissa (P1.2 million and P0.889 million, respectively)
- Alaska cager Edward Juinio (P7.2 million)
- actor Rustom Padilla ($47,000)
If you have any information about Hao and other accused scammers, please contact the following offices or approach your local police:
National Bureau of Investigation
NBI Building, Taft Avenue, Manila, Philippines
Tel. No. (+632) 523-82-31 to 38
Securities and Exchange Commission
Compliance Monitoring and Enforcement Department (SEC-CED)
Tel. No. (+632) 724-7650 or (+632) 727-2267
Pictures of Cyrus Hao and some RMF’s officers and staff (images contributed by PMT members):
Join the discussion of RMF Trading Corporation here:
- Royal Manchester Five (Part 4)
- Royal Manchester Five (Part 3)
- Royal Manchester Five (Part 2)
- Royal Manchester Five (Part 1)
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