Sunday, May 09, 2010


Those who suffered most in the PhP2.3 billion T-bills scam several years ago are said to be members of the so-called Kamaganak Inc. who had gone into banking and other financial ventures with the hundreds of millions they had scooped up as favored persons in the Aquino era.

One business leader who cited the misfortune of the Kamaganak Inc. which had been suckered by the 'Bancap beauties' said this was all part of the karma the Kamaganaks had to pay because they had made illegal fortunes during Cory Aquino's term. Most damaged was a bank that the Kamaganaks had bought into, and it was only because other friendly banks and the Bangko Sentral rushed to help this bank that its expected collapse did not occur.

As to the three 'Bancap beauties' who pulled off that monumental scam, they had since fled to London and other European cities. One of them, a daughter of a famous movie love team of the '50s, was said to have returned a few years ago to face the music. She claims innocence in the scam although she was an officer of Bancap Securities.

As for the Kamaganak Inc., expect them to be back with a vengeance.

(Image from

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