Mighty Corporation Downplays Fraud and Undervaluation Accusations by Rivals

Bulacan-based cigarette manufacturer Mighty Corporation or Mighty Corp denied all charges that they have committed fraud in their business dealings.

Mighty Corporation Executive Vice President and Spokesman Oscar P. Barrientos said that fraud is a serious accusation, it should be proven by complete evidence, adduce in an impartial investigation, conducted by a competent authority, with due regard to the due process requirement.

Barrientos also emphasized that under existing jurisprudence, fraud is not to be presumed. Thus, imputing fraud against Mighty Corp is not only unfair but highly libellous and damaging.

“Under the law, good faith is presumed, bad faith is not. Customs authorities have been closely monitoring MC operations, reporting and compliance. They found nothing wrong. These finding of government offices enjoy the presumption of regularity of official functions.” Barrientos said.

Barrientos, a former judge, even tackled the issue of undervaluation, another accusation thrown to Mighty Corporation by its rival, which he finds baseless. Undervaluation happen when one wilfully and deliberately declares low value of his imported commodity that was actually paid or made payable as agreed upon by and between him and the seller.

Existing procedures of the Bureau of Customs require that any contest or issue involving valuation must be lodge before the port’s Valuation Classification Review Committee before the imported goods are released. Once the goods are released without any protest of valuation as well as classification issues, they are presumed to have been cleared both on values as well as classification.

Mighty Corp officials said that charges are, “Baseless, arbitrary and libellous.”

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