Mamamayang Liberal Party-list Rep. Leila de Lima has sought a congressional inquiry into alleged risky and poor investment decisions by the Government Service Insurance System (GSIS) that reportedly resulted in P8.8 billion in losses.
In House Resolution 414, De Lima cited a letter from former GSIS trustees calling for the resignation of GSIS President and General Manager Jose Arnulfo Veloso over questionable investments in several corporations. She said the losses could endanger the retirement funds of government employees.
De Lima also cited allegations that some transactions were divided into smaller tranches to evade board oversight and that governance procedures were bypassed. She said the probe aims to ensure prudence and accountability in managing public funds.
