MANILA -- A lawmaker filed a House resolution directing the appropriate committee to investigate the bogus housing loans funded by Pag-ibig.
Majority Floor leader Neptali Gonzales II, in House Resolution No. 316, directed the committee on good government to conduct an inquiry on the reported fraudulent use of home development mutual funds to finance questionable housing projects.
"The irresponsible large scale use of pag-ibig funds for unlawful housing activities may lead to a financial crisis affecting the overall state of the national economy," Gonzales
cited in the resolution.
The committee will also probe into the possible gross negligence of duty, and other acts of malfeasance and misfeasance of officials and other functionaries of the home development mutual fund that have contribued to the irresponsible use of Pag-ibig funds.
Globe Asiatique Realty Holdings Corp. took out at least P6.6 billion in housing loan proceeds for buyers of its units in housing projects in Bacolor, Mabalacat and Angeles City in Pampanga but records show that these buyers are fake Pag-ibig members or ineligible for Pag-ibig membership
Others meanwhile were dead at the time the loans were applied for or were not living in the addresses provided.
"Globe Asiatique Realty Holdings Corp. took out billions of loan proceeds even as housing units to be financed were not yet completed or unfinished, with thousands of completed units rated as below standard, unoccupied, or closed," the resolution filed Tuesday cited. (Kathrina Alvarez/Sunnex)