IBC-13, R-II Builders execs told to answer raps on questionable joint venture | Inquirer News

IBC-13, R-II Builders execs told to answer raps on questionable joint venture

/ 07:45 PM June 28, 2013

Ombudsman Conchita Carpio-Morales. INQUIRER file photo

MANILA, Philippines—The Office of the Ombudsman on Friday ordered top officials of Intercontinental Broadcasting Corporation (IBC-13) and R-II Builders /Primestate Ventures Inc. to answer the criminal case filed against them in connection with the questionable joint venture agreement (JVA) to develop 36,401 square meters of IBC-13 property.

Ordered to answer the complaint are Jose Javier, former IBC-13 Chief Executive Officer; Joselito Yabut, former Chairman of the Board of IBC-13; Conrado Limcaoco Jr, former Supervising Secretary of IBC 13, and Nathaniel Romero, Primestate President and Managing Partner. They are facing a complaint for violation of Republic Act 3019 or the Anti-Graft and Corrupt Practices act and Falsification of Public Document under Article 171 of the Revised Penal Code.

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Ombudsman Conchita Carpio-Morales gave the order following an investigation by its Field Investigation Office (FIO) which showed that the execution of the JVA caused undue injury to the government worth P254.8 million.

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The JVA seeks to develop 36,401 square meters of 41,401 square meters of IBC-13 property in Capitol Hills, Diliman, Quezon City into residential complex while the remaining area will be used for the construction of two buildings for IBC-13.

The FIO also said that the JVA is also invalid because it did not follow the guidelines set by the government.

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It noted that the JVA was approved in haste with misrepresentations in its clauses, proof of “bad faith and manifest partiality.”

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TAGS: IBC 13, News, Ombudsman

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