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Home City

No fraud, deceit in casino financing operation

Dexter A. See by Dexter A. See
August 21, 2023
in City
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No fraud, deceit in casino financing operation
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Individuals who lent their hard-earned money to Manila-based casino financing operators underscored that they did not encounter any form of fraud or deceit when they entered into a contract for their money to be used for casino financing by high roller players locally and overseas.

A local entrepreneur, who requested anonymity for personal and security reasons, admitted having lent part of his hard-earned money to casino financing after personally undertaking thorough research on how casino financing operates, and that he had never encountered delays in the payment of the agreed percentage monthly interest because the money he lent had been directly remitted to the principal and is being used for its purpose.

She claimed that casino financing needs huge amounts of money to ensure their liquidity to be able to cater to the financial needs of high roller players from the country and those coming from overseas just to play casino from their desired financing rooms based in the various casinos accredited by the Philippine Amusements and Gaming Corporation (PAGCOR) in the different parts of the country.

The businesswoman explained that while the monthly interest as agreed in the loan contract seems “too good to be true” to some of us, the same is however realistic and feasible if we understand the fluid exchange of money from the casino operations. 

According to her, it is therefore inaccurate, if not illogical, to compare the way money is moved in the casino to ordinary, traditional business operations.

Earlier, a group of individuals decried alleged ongoing efforts to discredit their activities and their personalities.

In a joint statement, Hector Aldwin Pantollana, Hubert Amiel Pantollana, Hazen Humilde, Hein Humilde, Mikaella Ty-Choi and Virginio Casupanan stated, ‘we would like to clarify that the money of the alleged complainants was not pocketed as being earlier alleged by some of them.’

Further, the said individuals pointed out that it is unfair, unfounded, and unjust for some complainants and members of the media to make a sweeping allegation that they are operating a scheme to defraud certain individuals.

‘We will face the issues being thrown at us in the proper forum,’ the statement stressed.

The group also denounced the ongoing efforts to discredit our reputation through trial by publicity and depriving us of the opportunity to be heard of our position on the matter of defrauding the complainants of their hard-earned money.

According to them, they fully understand the concept of “hard-earned money,” which is why we fully denounce what is being alleged by our detractors who continuously employ “dirty tactics” for them to be able to gain the necessary mileage to discredit our established reputation. 

Team Z Lawyer, Atty. Nicasio Aliping, meanwhile said, “Yes, there are allegations against our clients, but in due time we’ll answer those allegations. We would like to assure the public that we will abide by the process and in the same manner our clients enjoy the presumption of innocence.”

Atty. Aliping further expressed, “In the meantime, let us assure the public not to jump to a conclusion whether there was this illegal thing or not. The fact remains that our clients will follow the rule of law. And again, to repeat, our clients enjoy the presumption of innocence. To the people who believe our clients, keep believing until and when such time that there is particular judgment. That’s why let us not prejudge.” 

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