• 07/17/2019
  • 12:26 PM
League Online News
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LAPID SEEKS TO EXPAND COVERAGE OF ECONOMIC SABOTAGE



Sen. Manuel "Lito" Lapid wants to widen the scope of economic sabotage by punishing not only syndicates but individuals who commit fraudulent investment schemes.

"Nararapat lamang na siguruhin natin na matigil na ang mga ganitong pananamantala sa ating mga kababayan na gusto lamang naman kumita ng kaunti," Lapid said.

Lapid realized that under the existing law, economic sabotage may only be committed by a group of at least five persons but recent incidents suggest that such unscrupulous acts of defrauding investors may be committed by a single person.

Citing this loophole, Senate Bill No. 53 otherwise known as "An Act expanding the Scope of the Crime of Economic Sabotage" will penalize individuals who either act by himself or in a group in carrying out investment schemes that defraud the people in the billions of pesos.

"Sa panukalang ito, siguradong lahat ng mga manggagantso, mag-isa man o sindikato ay wala nang lusot at siguradong mabubulok sa kulungan," Lapid stressed.

 

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