Rody vows to ‘destroy’ oligarchs

MANILA, Philippines – President Duterte yesterday vowed to “destroy” the oligarchs whom he accused of making money at the expense of the poor.

Speaking to delegates of the Parish Pastoral Council for Responsible Voting (PPCRV), Duterte cited former trade minister and businessman Roberto Ongpin as one of the oligarchs who have connections with the government.

“The plan really is to destroy the oligarchs that are embedded in government,” Duterte said.

“I’ll give you an example, publicly, Ongpin, Roberto. He was influential during the time of (Ferdinand) Marcos, trade minister, I think. He remained influential despite the succession. During the time of (Fidel) Ramos, he was a hanger on as well as during the time of Gloria (Arroyo) and P-Noy (Benigno Aquino III). Now he owns (an) online (gambling firm),” he added.

Ongpin, who owns online gaming firm Philweb Corp., has been slapped with a P174-million fine for insider trading by the Securities and Exchange Commission in relation to his purchase of Philex Mining shares in 2009.

The Court of Appeals, however, ruled last Monday that the corporate regulator must suspend the imposition of sanction against Ongpin for 60 days.

During his first day as President, Duterte vowed to put an end to online gambling in the country, saying the government does not collect taxes from it.

At the same event, Duterte reiterated his warning to businesses that continue to hire contractual employees.

“I am warning you. Stop contractualization or I will kill you,” he said.

Duterte previously encouraged workers to report abusive labor practices to government hotline 8888.