GSIS Under Fire for ₱1B DigiPlus Investment
RISA HONTIVEROS – The senator revealed that the Government Service Insurance System (GSIS) invested over ₱1 billion in an online gambling company called DigiPlus. During her privilege speech on August 5, she disclosed that the investment was made under the leadership of suspended GSIS President Jose Arnulfo “Wick” Veloso.
She pointed out that GSIS bought shares in DigiPlus when the price was at its peak of ₱65.30. Since then, the value has dropped significantly to as low as ₱13.68, resulting in a major financial loss. Hontiveros questioned the decision to invest in online gambling, especially since government employees themselves are not even allowed to enter casinos or gamble. She emphasized that GSIS should not be using public workers’ money to take risky bets on gambling businesses.
Hontiveros explained that GSIS currently holds ₱1.83 trillion in total assets, which come from the monthly contributions of over 2.7 million government employees. These include teachers, police officers, traffic enforcers, doctors, nurses, local government workers, and even Senate staff. She stressed that this money represents the collective efforts and dreams of hardworking public servants.
She also mentioned that Veloso, along with six other GSIS officials, was suspended in July due to a controversial ₱1.45 billion investment in Alternergy. According to the Ombudsman, the officials may have committed serious misconduct by entering into the investment without the approval of the GSIS Board of Trustees. This action allegedly violated GSIS’s own investment rules.
In addition, Hontiveros revealed that GSIS invested ₱2.38 billion in three publicly listed companies, including Alternergy. Based on the Commission on Audit’s 2023 Annual Report, none of these companies had a solid track record of profitability or had paid dividends in the last three years—violating the Revised GSIS Act. As a result, GSIS reportedly suffered a ₱251.37 million loss in the value of those investments.
As of now, both GSIS and Veloso have yet to issue a statement in response to Hontiveros’s allegations.
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Tama po kayo jan Senator Risa Hontiveros! Dapat imbestigahan yan at isama na ninyo ang nangyari din sakin! GSIS-Pagadian held my GSIS Old-Age Pension since May 28, 2025, making it 71 days na today August 07, 2025! It seems GSIS is also gambling w/ my Pension Money and the other Pensioners’ Money! For more detailed information I can be contacted through the following: 1) Email: romy472000@yahoo or [email protected] 2) Cellphone Numbers: 0915-978-5840 or 0994-456-1658 3) Facebook Account: Romeo DY! Thank you very much for reading and spending time to my complaint, good AM, and may God protect us Always!