NOTE: THIS STORY WAS FIRST PUBLISHED IN THE BOHOL CHRONICLE’S SUNDAY PRINT EDITION.

The investors in the reported multi-million peso scam are still hoping to recover their hard earned money invested in the questioned foreign trading operations.

Niño Jedediah Ramos, the alleged man behind the investment operations informed the investors that he is in the process of returning the funds as he requested the investors to prepare the needed documents for account checking based on Bohol Database for comparison in preparation for the upcoming “fund release.”

Ramos’ announcement came even as a clarificatory hearing was conducted by Asst. City Prosecutor Julius R Cesar last Wednesday where the complainants appeared.

Ramos is now facing charges on large scale estafa in violation of Article 315 of the Revised Penal Code.

He designated Mary Rose Edubas and Janette Romero as the persons to disburse while he warned that with no signed proof of investment, no payment.  Ramos said “the documents should be signed only by him and not by the introducer and will be given direct to the investors not to the introducers.”

The information issued by Ramos was posted in the social media addressed to investors and introducers.

Reports said that the investments entrusted to Ramos has reached to P300 million coming from politicians, mostly town mayors, businessmen, overseas workers and several professionals, including doctors and contractors.

The filing of the case against Ramos came after an investigation was conducted by the Criminal Investigation and Detection Group (CIDG) which showed fraudulent activities victimizing investors, according to CIDG Prov’l Chief Saturnino Estigoy.