Why the rush to convert SMC shares coco levy funds?

Posted by netizen on October 15, 2009 · Leave a Comment 

(re-posted over at http://newphilrevolution.blogspot.com) "Farmers give your money to us so Danding and I can buy SMC shares" From 1973 to 1982, the Marcos regime required 18 million Filipino coconut farmers to give P 15 pesos as “levy” or tax for every 100 kilograms of copra and coconut products sold by them. The levy now termed as the “coconut levy fund scam” ballooned to P 9.7 billion or roughly P 135 billion as of today. I will not anymore, give a brief background... 

Source:  Filipino News Network

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