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PRESIDENTIAL DECREE No. 1689 (Estafa in Large Scale or Syndicated Estafa)

INCREASING THE PENALTY FOR CERTAIN FORMS OF SWINDLING OR ESTAFA

P.D. No. 1689 | 1980-04-06

MALACAÑANG
Manila

 
INCREASING THE PENALTY FOR CERTAIN FORMS OF SWINDLING OR ESTAFA

WHEREAS, there is an upsurge in the commission of swindling and other forms of frauds in rural banks, cooperatives, “samahang nayon (s)”, and farmers’ associations or corporations/associations operating on funds solicited from the general public;

WHEREAS, such defraudation or misappropriation of funds contributed by stockholders or members of such rural banks, cooperatives, “samahang nayon(s)”, or farmers’ associations, or of funds solicited by corporations/associations from the general public, erodes the...