MANILA, Philippines– Senate Deputy Minority Leader Risa Hontiveros on Tuesday questioned the Government Service Insurance System (GSIS) for its P1 billion investment in an online gambling platform.
Hontiveros raised the issue during her privilege speech at the Senate’s plenary session. She stated that GSIS invested in DigiPlus, an online gambling platform.
The investment occurred when DigiPlus shares were priced at P65.30 each. The shares have since decreased in value to P13.68. Hontiveros highlighted this decrease as a financial loss for GSIS. She sought clarity on the rationale behind GSIS’s investment decision.
Hontiveros expressed concern about the potential impact of this investment on GSIS’s financial health. She inquired about the decision-making process that led to the investment.
Hontiveros urged GSIS to provide a detailed explanation to its stakeholders. The issue has sparked a broader discussion about investment transparency.
Hontiveros emphasized the importance of safeguarding pension funds. She stressed the need for accountability in handling public funds.
GSIS has not yet publicly responded to the concerns raised by Hontiveros. The situation continues to unfold as further details emerge.