Failon Ngayon Probes Anomalies Behind Foreign-Run Businesses in the Country

Broadcast Journalist Ted Failon investigates the different schemes of unscrupulous foreign businessmen preying on hapless Filipinos such as the 5-6 lending scheme that Filipinos depend on in times of need this Saturday (Feb 2) in “Failon Ngayon.”

Foreign entrepreneurs are ubiquitous especially in Binondo, Divisoria, Baclaran, and Greenhills. Unfortunately, many of them commit violations such as non-issuance of official receipts, non-payment of taxes, and even sale of smuggled or illegal products.

The Philippine Retirement Authority recorded more than 27,000 foreign nationals coming from 107 countries that hold Special Resident Retiree’s visa or SRR Visa in the Philippines. It is meant to be used by foreigners who want to retire in the country but some of them use the visa to stay inside Philippine territories and operate their businesses.

Don’t miss this full report in “Failon Ngayon” this Saturday (Fab 2), 4:45 PM on ABS-CBN with a replay on ANC every Sunday, 2PM. Visit its Facebook page at and follow it on Twitter via @Failon_Ngayon. Tweet your thoughts and reaction this weekend using the hashtag #FailonNgayon.

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