Palace on SSS controversy: 'People will be fired, charged'

Pia Gutierrez, ABS-CBN News

Posted at Nov 02 2017 11:53 PM

MANILA - New Presidential spokesman Harry Roque on Thursday expressed confidence regarding the ongoing probe of the Social Security System (SSS) amid allegations of profiteering against four of its top officials.

This came after several SSS officials were accused of personally profiting by investing in stocks using the same brokers who are handling the equity investments of SSS.

"Chairman (Amado) Valdez has ordered an investigation. There will be prosecutions, there will be people who will be fired and criminal charges filed, if warranted," Roque said.

"They benefited from insider information. And as you know, it was the Chairman himself who made this public. So it shows that the SSS, in line with the administration's goal of eradicating corruption, will not tolerate foul play, particularly in the management of the SSS funds. I think that was very clear," he added.

SSS President and CEO Emmanuel Dooc on Thursday told DZMM radio that pensioners will receive their money on time despite the stock investment controversy.

SSS officials Reginald Candelaria and Ernesto Francisco are embroiled in controversy after allegedly using "inside information" to buy stocks with their personal money, according to a complaint filed by SSS Commissioner Jose La Viña.

SSS chief actuary George Ongkeko Jr. and Executive Vice President Rizaldy Capulong are also under investigation for alleged neglect of duty. 

"Sinusunod namin ng mahigpit to establish the truth and to afford due process and hopefully this will result [in a] fair and equitable decision,” Dooc added.

Dooc reiterated there’s no cause for panic since no funds were lost, only investment opportunity.