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The Presidential Anti-Corruption Commission (PACC) is investigating alleged anomalies in the investment in shares of the Philippine Health Insurance Corporation (PhilHealth).
PACC Commissioner Greco Belgica said they are now reviewing a 2017 report from the Audit Commission (COA), which noted PhilHealth’s alleged investment of P865,927,169 in common stock as of December 31, 2016.
This, he noted, allegedly violated Republic Law 10606 or the PhilHealth charter, which limited his investments to “preferred stock” only.
“There appears to be allegations that the income from these investments is being divided between the members of the Board and the Executive Committee, while its financial statement reflects that the investments have zero interest earnings at the end of the investment period,” said Belgica at an online press conference.
Presidential spokesman Harry Roque welcomed the initiative as he said that PhilHealth’s investment is not currently covered by the independent investigation into PhilHealth being conducted by the Interagency Task Force, Congress and the Senate.
Aside from PhilHealth’s investments, he said that PACC is also investigating the state insurer’s alleged overpriced test packages for novel coronavirus disease (Covid-19) and information technology (IT) projects.
Belgium said its research at PhilHealth currently covers 40 officials, including those from its regional office, as well as members of its Executive Committee and Board of Directors.
He said they plan to press charges against some of the errant officials after two months.
“We do not want to present a case, which will later be dismissed by the Court for lack of evidence and substance. That is why we want the correct document before presenting it to the Ombudsman, ”said Belgica.
