Aired (June 14, 2024): Legal ba ang paluwagan? Alamin ‘yan kasama ang ating Kapuso sa Batas, Atty. Gaby Concepcion. #UnangHirit
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00:00Always ready to answer your questions about the law.
00:03Here is Atty. Gabby Concepcion, our heart of the law.
00:08Good morning, Atty.
00:09Good morning to you too, Atis.
00:11Good morning to you too, Atis.
00:13Sometimes, those who are stuck in the limelight are able to hold on.
00:17There are a lot of people who can relate to this, for sure.
00:21Sometimes, in your neighbors, friends, or even in online groups, there is light.
00:28But wait!
00:29Be careful!
00:30To those who are planning to join Paluwagan, listen up.
00:34A woman was arrested for helping with the Paluwagan scam in Paranaque City.
00:40She was complained of by more than 400 victims
00:43who were fined up to Php 200 million.
00:49What does the law say about this?
00:52Here's all you need to know.
00:54Ask me, ask Atty. Gabby.
00:58Is this what you want to see?
01:00Atty., is Paluwagan legal?
01:03And can anyone start this?
01:07Is Paluwagan legal?
01:09If these are your co-workers who agree that every payday,
01:14we will enter Php 500,
01:16then there will be an agreement as to who will be the first to receive the total amount
01:20and who will be the next,
01:23and who will be the next to the friends or co-workers.
01:27Of course, that's not a problem.
01:29It's legal and it's like a system of forced savings for friends.
01:33But even if it's like this, there is still a downside and a possible problem.
01:37For example, if other co-workers don't receive the money,
01:41they lose their jobs, or even worse,
01:43someone will run out of money,
01:45that's the usual problem of Paluwagan,
01:48even if you are friends or co-workers.
01:51But if this is done by a big company and promises interest,
01:56or even requires the recruitment of other people who will lose money,
02:00this is probably just a scam and a pyramiding scheme that the law is punishing.
02:06What they do is they get the scammer money from the victims
02:10through a promise of a large sum of money
02:14in the amount given that is not true or has no basis of promise.
02:17Are all of these modes illegal?
02:20I don't think so.
02:21Maybe there are some that are okay.
02:23But these modes are called an investment contract.
02:27And because there is a high possibility that the scammers are looking for a large sum of money,
02:32there is a requirement in our law, in the Securities Regulation Code,
02:36that these contracts that are offered to the public
02:39should be registered and approved by the Securities and Exchange Commission or SEC.
02:45So check the list of the SEC if you are the one who will invest so that we can be assured.
02:51So, one more question.
02:53Attorney, why is it that in Paluwagan, there are no documents being signed?
02:57Is there a catch if you are scammed here?
03:00Well, the usual remedy for these scammers is the filing of a case of estafa.
03:06For example, if in a simple Paluwagan where a friend ran away,
03:11he is guilty of estafa because he has a promise that the money he has is just an interest to be given to the next entitled to get the money.
03:21The escape of this money is a criminal case of estafa.
03:25Of course, there should be evidence of giving money, but usually there is no document.
03:31But even if there is no document, it can still be proven by the testimony of other witnesses,
03:38other offices that have participated here in Paluwagan and have personal knowledge in this matter.
03:44But of course, it is still better if there is a document so that there will be no problem and there will be no confusion.
03:50After all, a written contract is the best evidence of an agreement.
03:55So even if it is a simple matter, put it down into writing.
03:59To the lawmakers, we will give clarity for the stability of thought.
04:05Don't hesitate.
04:07Ask me.
04:08Ask Katerina Gabby.