The Ombudsman has lifted the preventive suspension of Arnulfo Veloso, president and general manager of the Government Service Insurance System (GSIS), which was imposed following an anonymous complaint alleging grave misconduct and gross neglect of duty over a P1.45 billion investment in perpetual preferred shares of Alternery Holdings Corp.
On July 11, Veloso and six other GSIS executives were slapped with six-month preventive suspensions. Since then, two of those executives have left the agency. The recall of the preventive suspension order also allowed four other executives of the state pension fund for government workers to resume their duties with the GSIS.
In a September 17 order signed by Acting Ombudsman Dante Vargas, the corruption prosecutor declared the preventive suspension “no longer necessary” as all relevant documents had been submitted to the Ombudsman for review.
Veloso welcomed the decision, expressing eagerness to return to his duties. “I look forward to returning to the institution, not to dwell on past distractions, but to continue the work of protecting and growing the GSIS fund for the future of all government workers,” he said.
The lifting of Veloso’s suspension allows him to resume leadership at GSIS amid ongoing efforts to safeguard and expand the pension fund’s assets.
