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I’M sure
you have heard about it. I refer to an insurance scam
that has been victimizing both the public and several
insurance entities. It has become a full-fledged
syndicate worth millions, if not billions, of pesos.
How does
it operate?
Let’s do
some role-playing.
I am
from the syndicate. I buy a car through a financial
package from a reputable bank or a financial-services
support owned by a giant car company.
After
the purchase, I use the brand-new car for a few
kilometers.
Then, I
will sell the car at a price cheaper by at least
P200,000 from its prevailing market value.
The
buyer could either be an innocent motorist or a
secondhand car shop. Or even a dealership itself.
For a
private person, or to a car-dealer shop, who would
resist buying an almost brand-new car for virtually a
song?
The
modus operandi is, after I have sold the car, I am
richer by at least P250,000 per sale. Now, remember,
some “assets” need to have their share of the loot. So,
it is safe to say I get a clean P150,000 per purchase.
If I
make five hits per year, that’s a total of P750,000 per
year. Not bad. And I can easily make 10 deals a year.
Next,
I’ll disappear from the face of the earth—but for only a
moment, that is. We call it the “cooling-off” period.
Believe
me, it’s that simple.
Believe
me, some victims have exposed the syndicate to the
police.
Believe
me, the police have yet to score a bust.
“What I
pity most are our dealers,” my friend said to me.
“They’re bleeding like hell.”
My
friend is a top banana in one of the country’s giant car
companies and spoke to me on condition of anonymity for
obvious reasons. Ruthless and armed to the teeth, the
syndicate would kill if need be.
“The
syndicate has hit even our dealers in the Visayas and
Mindanao,” said my friend. “The syndicate is
well-entrenched.”
My
friend said the syndicate’s influence can facilitate
change of ownership of the hot car being purchased in a
jiffy.
“The
syndicate has connections all over the archipelago,”
said my friend.
It’s
that well-organized, indeed, that it could be likened to
the Mafia of the US: it operates almost with clockwork
precision that it has become almost foolproof, if not
totally fail-safe.
Add this
million-peso syndicate to the car-snatching (car
hijackers) malady and what do we have but a
mountain-size menace besetting the country’s automotive
business.
And who
could sidestep that other equally lucrative car racket
called the Subic Sabotage, which is none other than the
wanton importation of luxury vehicles and slightly used
SUVs via the
Subic port in Olongapo?
By the
last reckoning, this daylight robbery that’s been going
on for years costs the government at least P2 billion in
lost revenues every year. And that’s not to mention
losses incurred by our legitimate car companies arising
from unrealized sales as a result of “stolen” deals by
the
Subic saboteurs.
Scams,
rackets and corruption ail the country’s economy.
Who’s to
blame?
Don’t
look at me. Don’t even blame that sticker plastered in
a car that reads: “Don’t steal. You’re giving the
government competition.”
We have
become the 10th most-corrupt country in the world.
I know a
scammer who disagrees with that.
“That’s
an understatement,” says he.
Kudos,
comments
Congratulations to Honda Cars Philippines Inc. (HCPI) on
its 17th anniversary rites. To celebrate the milestone,
Honda threw a pitch for nature conservation and
environment by inaugurating its Tree Museum in its
manufacturing plant in Santa Rosa, Laguna. The rites
were led by HCPI president and GM Hiroshi Shimizu and
Honda top gun Arnel Doria. The
Tree Museum
creates a special place where Philippine indigenous
trees like narra, molave, cupang and ilang-ilang could
flourish. In the same occasion, Honda has turned over
used batteries for proper treatment and disposal in
partnership with ABS-CBN Foundation’s Bantay Baterya
program to recycle and eradicate lead pollutants in the
environment. It has become almost SOP for giant car
corporations like Honda to adopt a CSR (corporate social
responsibility) project. I wish our lawmakers would
soon enact a bill making it compulsory for all companies
to embrace a project similar to Honda’s. It’s not what
we get as an entrepreneur but what we give back.
Pee stop
Godspeed
to Mel Dizon, Froi Dytianquin and Arlan Reyes of
Mitsubishi for their giant efforts in making tomorrow’s
(December 15) Chairman’s Cup golf event at Southwoods a
success. I had intended to play but I had to send my
regrets to Froi and Arlan for I am not fully well yet.
My gratitude also goes to Albert Arcilla and Loi
Concepcion of Volvo for their kindness (they know what I
mean). Many, many thanks Albert and Loi. And to Lyn
(Buena-Manalansang), too, for the “get well soon”
thought. |
