Marilyn Cahatol

Government Service Insurance System office in Pasay City. Mark Demayo, ABS-CBN News

Article (news)

Victoria Tulad

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/175439108724420230110-gsis-office-main-MD-5711.jpg" style="width:960px" class="fr-fic fr-dib" alt="Government Service Insurance System office in Pasay City. Mark Demayo, ABS-CBN News /file"/><span class="fr-inner" style="text-align:left">Government Service Insurance System office in Pasay City.<em> Mark Demayo, ABS-CBN News /file</em></span></span></span></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/Nc-_GNy4aTs?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>MANILA — Senate Deputy Minority Leader Risa Hontiveros has sounded the alarm over the alleged P1 billion investment of the Government Service Insurance System (GSIS) in an online gambling platform.</p><p>Hontiveros, in a privilege speech on Tuesday, condemned the alleged use of the retirement money of Filipinos to expand the e-gaming industry.</p><p>“In recent weeks, new articles have started to shine light on the P1 billion investment of GSIS in online gambling platform DigiPlus. You heard that right, Mr. President and dear colleagues. Pinaka-nakakagulat sa lahat, nag-invest ang GSIS ng lagpas P1 billion sa online sugal!” Hontiveros remarked.</p><p>“In the first place, what was GSIS thinking, investing funds in online gambling?! Eh tayo nga po, mga kasamang nagtatrabaho sa gobyerno, ni hindi pwedeng tumungtong sa casino lalo na hindi pwedeng magsugal doon. Kaya bakit ang GSIS, todo taya, at ginawang puhunan ang pera ng public employees sa sugalan?” she added.   </p><p>Hontiveros said the GSIS is mandated to invest members’ contributions wisely.</p><p>At present, GSIS has total assets of P1.83 trillion and a membership of more than 2.7 million Filipinos.</p><p>Hontiveros also said there seems to be a pattern of “reckless and questionable investment decisions by the current GSIS leadership,” while reminding the plenary about the preventive suspension slapped on GSIS General Manager Jose Arnulfo “Wick” Veloso and six others.</p><p>Veloso and six other GSIS officials were <a href="https://www.abs-cbn.com/news/nation/2025/7/22/ombudsman-suspends-gsis-president-veloso-over-p1-4-b-deal-1441">suspended </a>last July over the agency&#x27;s purchase of 100 million preferred shares, worth P1.4 billion, of Alternergy Holdings Corp., which Ombudsman said &quot;breached&quot; the 2022 GSIS Investment Policy Guidelines.</p><div><a href="https://www.abs-cbn.com/news/nation/2025/7/25/gsis-chief-veloso-questions-suspension-says-p1-4-b-share-deal-legal-1348">GSIS chief Veloso questions suspension, says P1.4-B share deal legal</a></div><p>“A quick look at the GSIS-Alternergy deal reveals multiple red flags. According to the Ombudsman, Mr. Veloso and his fellow GSIS officials may have committed serious misconduct when they entered into an agreement to purchase Alternergy’s Perpetual Preferred Shares without the approval of the GSIS Board of Trustees, and in clear violation of the GSIS’s own investment policies and guidelines,” Hontiveros explained.</p><div><a href="https://www.abs-cbn.com/news/2025/7/24/groups-say-heads-should-roll-on-p1-4-billion-gsis-alternergy-deal-1754">Groups say &#x27;heads should roll&#x27; on P1.4-billion GSIS-Alternergy deal</a></div><p>Hontiveros also pointed out that in the Commission on Audit 2023 Annual Audit Report, GSIS invested up to P2.38 billion in three publicly-listed companies including Alternergy.</p><p>“All three companies had not demonstrated a ‘proven track record of profitability over the last three years and payment of dividends at least once over the same period,’ in clear violation of the Revised GSIS Act,” she said.  </p><p>“Sadly, the GSIS has already suffered a ₱251.37 million valuation loss on these equity bets. P251.37 million valuation loss! This is no longer risk-taking. Pagtatapon na ito ng pera!” Hontiveros remarked.</p><p>Senator Raffy Tulfo, Chairman of the Committee on Games and Amusement, said he is willing to investigate the issue.</p><p>“Kung mamarapatin po ng Committee on Rules na paimbestigahan sa Committee on Games and Amusement, akin pong iimbestigahan sa lalong madaling panahon itong paglalagay ng GSIS ng pera ng mga retirees sa online gaming ika nga sa DigiPlus,” Tulfo said in his manifestation.</p><p>“Ito po ay aking paiimbestigahan kung may kumita, mukhang may kumita po rito, mayroon pong commission o kickback at hindi po ito karapat-dapat at katanggap-tanggap,” he added. “Ako din po ay nagagalit at naiinis dahil ito po ay pinagpaguran ng mga empleyado ng pamahalaan.”  </p><p>Senator Imee Marcos has previously filed Senate Resolution 39 directing the appropriate Senate committee to conduct an inquiry into the reported questionable investments of GSIS.</p><div><a href="https://www.abs-cbn.com/news/business/2025/7/31/gsis-lends-p1-5b-in-emergency-loans-to-crising-dante-emong-victims-1034">GSIS lends P1.5 billion in emergency loans to Crising, Dante, Emong victims</a></div><div><br/></div><div><strong>RELATED VIDEO:</strong></div><div style="text-align:center"><iframe width="560" height="315" src="https://www.youtube.com/embed/fEt6-X4JTws?si=xBB9TzQU8yeJl3mN" title="YouTube video player" frameBorder="0" allowfullscreen=""></iframe></div>

<p>Senate Deputy Minority Leader Risa Hontiveros sounded the alarm over the alleged P1 billion investment of the Government Service Insurance System (GSIS) in an online gambling platform.</p>

Senate Deputy Minority Leader Risa Hontiveros sounded the alarm over the alleged P1 billion investment of the Government Service Insurance System (GSIS) in an online gambling platform.

Hontiveros denounces alleged GSIS investment in online gambling platform

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Hontiveros denounces alleged GSIS investment in online gambling platform

Victoria Tulad,

ABS-CBN News

Published August 05, 2025 07:17 PM PHT

|

Updated August 06, 2025 01:53 PM PHT

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