Increasing the Penalty for Certain Forms of Swindling or Estafa
Presidential Decree No. 1689, issued on April 6, 1980, aims to combat the rising incidence of swindling and fraud, particularly within rural banks, cooperatives, and associations soliciting public funds. The decree establishes severe penalties, including life imprisonment or death for syndicates of five or more individuals committing estafa that results in significant financial misappropriation. For non-syndicate offenses involving amounts exceeding 100,000 pesos, the penalty is reclusion temporal to reclusion perpetua. This law reflects a strong governmental response to protect public trust in financial institutions and ensure economic stability.
Quick Answers
- What is Increasing the Penalty for Certain Forms of Swindling or Estafa about?
- Presidential Decree No. 1689, issued on April 6, 1980, aims to combat the rising incidence of swindling and fraud, particularly within rural banks, cooperatives, and associations soliciting public funds. The decree establishes severe penalties, including life imprisonment or death for syndicates of five or more individuals committing estafa that results in significant financial misappropriation. For non-syndicate offenses involving amounts exceeding 100,000 pesos, the penalty is reclusion temporal to reclusion perpetua. This law reflects a strong governmental response to protect public trust in financial institutions and ensure economic stability.
- What type of law is Presidential Decree No. 1689?
- Increasing the Penalty for Certain Forms of Swindling or Estafa (Presidential Decree No. 1689) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Increasing the Penalty for Certain Forms of Swindling or Estafa enacted?
- Increasing the Penalty for Certain Forms of Swindling or Estafa (Presidential Decree No. 1689) was enacted on Apr 6, 1980.
- What is the citation for Increasing the Penalty for Certain Forms of Swindling or Estafa?
- Increasing the Penalty for Certain Forms of Swindling or Estafa, Presidential Decree No. 1689, Apr 6, 1980 (Philippines)
Law Information
- Reference Number
- Presidential Decree No. 1689
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
April 6, 1980
PRESIDENTIAL DECREE NO. 1689
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 confidence of the public in the banking and cooperative system, contravenes the public interest, and constitutes economic sabotage that threatens the stability of the nation;
WHEREAS, it is imperative that the resurgence of said crimes be checked, or at least minimized, by imposing capital punishment on certain forms of swindling and other frauds involving rural banks, cooperatives, "samahang nayon(s)", farmers' associations or corporations/associations operating on funds solicited from the general public. acd
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order as follows:
SECTION 1. Any person or persons who shall commit estafa or other forms of swindling as defined in Article 315 and 316 of the Revised Penal Code, as amended, shall be punished by life imprisonment to death if the swindling (estafa) is committed by a syndicate consisting of five or more persons formed with the intention of carrying out the unlawful or illegal act, transaction, enterprise or scheme, and the defraudation results in the misappropriation of money contributed by stockholders, or members of rural banks, cooperative, "samahang nayon(s)", or farmers' association, or of funds solicited by corporations/associations from the general public.
When not committed by a syndicate as above defined, the penalty imposable shall be reclusion temporal to reclusion perpetua if the amount of the fraud exceeds 100,000 pesos.
SECTION 2. This Decree shall take effect immediately.
DONE in the City of Manila, this 6th day of April, in the year of Our Lord, Nineteen Hundred and Eighty.
Published in the Official Gazette, Vol. 76 No. 26 Page 4414 on June 30, 1980.
Cite This Law
Increasing the Penalty for Certain Forms of Swindling or Estafa, Presidential Decree No. 1689, Apr 6, 1980 (Philippines)
Increasing the Penalty for Certain Forms of Swindling or Estafa, Presidential Decree No. 1689 (Phil. 1980)
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- Amendment to the 2000 Bail Bond GuideDOJ Department Circular No. 042-09 • Jul 13, 2009 • Other Rules and Procedures
- Payment of Filing Fees Involving Article 316 of the Revised Penal Code or Other Forms of Swindling in Cases When the Recovery of Civil Liability is Deemed Instituted with the Criminal ActionOCA Circular No. 285-2022 • Oct 12, 2022 • Supreme Court Issuances
- Increasing the Penalty for Robbery or Theft of Mail MatterCommonwealth Act No. 417 • May 22, 1939 • Statutes
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