SSS chief on stock probe: No room for corruption

ABS-CBN News

Posted at Oct 31 2017 01:45 PM | Updated as of Oct 31 2017 03:22 PM

MANILA - An internal investigation of the Social Security System on equity purchases of its officials may include the Philippine Stock Exchange, the head of the pension fund said Tuesday.

At least 1 of 4 officials named in an administrative complaint has replied in writing to allegations they bought shares of stock for themselves, based on the advise of the fund's stockbroker, said SSS chairman Amado Valdez.

Valdez told DZMM the investigation might even reach the level of the Ombudsman, which handles complaints against public officials.

"Hindi lang siguro officials namin ang iimbestigahan, baka lumabas kami at pati yung stock exchange ang involved diyan at kung kailangan may lisensiya diyan na ma-cancel, pupunta kami sa SEC," Valdez said.

(The investigation will not be limited to our officials, if we have to go to the stock exchange, if there is a license that has to be canceled, we will go to the Securities and Exchange Commission.)

"Ayaw namin ma-corrupt ang mga tao namin dito," he said.

(We don't want our people to be corrupted.)

Valdez said there were no indications that the officers under investigation invested using public funds.

"Wala naman misuse ng pondo, kundi yung possible conflict of interest lang na isasabay mo yung personal mo dun sa trading mo for SSS," he said.

(There was no fund misuse, but a possible conflict of interest, doing your personal trading at the same time as that of the SSS.)

Labor group Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) calls or a "transparent and credible" investigation and the immediate suspension of officials involved in the controversy.

"Kung hindi pa nagkaroon ng news expose, hindi napag-alaman ng mga members. Kung kaya't nangangamba kami na baka na-kompromiso na ang pera ng mga myembro," ALU-TUCP spokesperson Alan Tanjusay said in a statement. 

(If not for the news expose, the members will not be notified. We fear that the funds and the members' money are compromised.)