Filipino admin of ‘Point Share Gold’ program arrested but now out on bail

Pinoy Money Talk (PMT Forum) member manoy06 disclosed today that Henry James Banayat,  CEO and administrator of online investments scams Point Share Gold (PSG) and PointSharExtreme (PSX), was arrested last week in La Union City, Philippines by members of the Ilocos Regional NBI office.

However, the suspect is reportedly now out on bail.

Banayat apparently ran a string of online scams that duped hundreds of investors in the Philippines and abroad millions of money.

One of these programs is Point Share Gold (renamed Point Share Extreme later on), wherein investors were supposed to get 100% return on their $100 minimum investment after successfully referring three other members to the program. (Does the word Ponzi ring a bell?)

Afterwards, investors supposedly were to receive $350 every month and, on the 12th month, a final bonus of $1,000 was to be awarded.

In less than a year, hundreds of investors around the world stopped receiving payments as the program collapsed. Meanwhile owners and staff of the program, including Banayat, constantly reassured members that payments would resume. Up to this date, it did not.

If you were a victim of this scam, we encourage you to file a report to the appropriate authorities in order to pursue the case against Banayat and the rest of his cohorts.

In the Philippines 

National Bureau of Investigation (NBI)
Director: Atty. Nestor Mantaring
Telephone: 523-8231 to 38

SEC Company Registration and Monitoring Department (CRMD)
Director: Benito A. Cataran
Telephone: 727-2011

SEC Compliance and Enforcement Department (CED)
Director: Hubert Dominic B. Guevara
Telephone: 727-3367

In the USA

Internet Crime Complaint Center 

Related links:

3 thoughts on “Filipino admin of ‘Point Share Gold’ program arrested but now out on bail”

  1. That’s just great.. after being a member with psx for over 3 years, and being told that it’s finally going to do payouts to its members, now, we have to worry about the source the money came from and whether we’re going to be in hot water for finally getting paid. Most, if not all the psx members are regular people just trying to survive in these economic times. All of which took part in what was and is considered an investment plan. Many of whom paid it forward to help other needy families. The admin is on BlogTalk Radio and is talking about implementation of payout to members. Not all the participants are into money laundering. Interestingly enough, your post about Henry does not get into the why on his arrest. You merely tell people to go ahead and file a complaint to help authorities pursue a case against him and his, as you say, cohorts.

  2. Really good English language speaking Filipino people. These people communicate better than the majority of Filipinos living here in the States They are a group of exceptionally knowledgeable,stimulated people.

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