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A major textile trader is being investigated for alleged involvement in the operations of at least 10 textile firms which filed fraudulent tax credit claims worth P1.09 billion with the One Stop Shop Tax Credit and Duty Drawback Center (OSS) from 1994-1996.
Government sources, however, declined to reveal more details, saying investigators are still pursuing leads in the case.
The 10 firms include Nikko Textile Mills Corp., Nippon East Knitting Corp., Integrated Multi Cotton Mills, Inc., Kultura Knitex Corp., Devmark Textile International, Ilufa Manufacturing, Inc., Filipino Way Industries, Inc.; Mannequin International Corp., Texasia Inc. and Scope Industries.
A case against Scope Industries, which obtained 95 fraudulent tax credit certificates (TCCs) worth P230.45 million has been filed with the Sandiganbayan.
The group represents the second largest textile group after the Chingkoe group of companies, …