BATAAN – AFTER shelling out money to College Assurance Plans (Philippines) Inc. (CAP) for more than a decade of working in Saudi Arabia, Francisco Aguilar Jr. is biting his fingernails over the shaky outlook for CAP as implied in recent media reports.

CAP, majority owned by the Sobrepena family, has been charged by the Bureau of Internal Revenue (BIR) in court for tax evasion. This is on top of the suspension of its license to sell pre-need education plans by the Securities and Exchange Commission (SEC) since last year.