Practice question
In the Ponzi operation discussed in People v. Baladjay, what supplies supposed returns paid to early investors?
- Capital contributed by later investors.
- Necessarily genuine operating profits in every case.
- A court’s restitution fund.
- Mandatory government insurance for every investment.
- The investor’s automatic statutory pension.
Legal references
- People v. Baladjay, G.R. No. 220458, July 26, 2017, main decision, deceit, Ponzi operation and participation evidence under PD 1689: https://lawphil.net/judjuris/juri2017/jul2017/gr_220458_2017.html
- PD 1689, Section 1, covered syndicated swindling: https://lawphil.net/statutes/presdecs/pd1980/pd_1689_1980.html
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