Vice President Binay got P651-M kickbacks—Ernesto Mercado

By: Maila Ager - 10 years ago

Former Makati City Vice Mayor Ernesto Mercado. INQUIRER file photo.

MANILA, Philippines — Vice President Jejomar Binay’s kickbacks from a land deal in Makati City could reach up to P651 million, former Vice Mayor Ernesto Mercado claimed Wednesday at the Senate hearing on alleged anomalies in Makati City.

Returning to the ongoing investigation of the Senate blue ribbon subcommittee, Mercado modified his earlier claim that Binay got P200 from a joint-venture agreement between Alphaland Corporation and the Boy Scouts of the Philippines (BSP).

In his latest testimony, Mercado said the Vice President could have gotten P651 million from the deal which entailed the development of a prime property in Makati City.

Mercado has alleged that Binay’s kickbacks were coursed through Noble Care Management Corp., a company owned by Alphaland President Mario Oreta. Oreta, who was at the hearing, denied the former vice mayor’s claims.

According to Mercado, Alphaland sold almost nine-million of its shares to Noble Care at P10 per share when its value at the stock market at that time was P62 per share.

“So, ang halos 9 million shares na binigay sa Noble Care ay hindi lang nagkakahalaga ng P89 million kung hindi higit pa sa P551 million,” he told the subcommittee.

“Ang kickback ni VP Binay mula sa Alphaland share ay maglalaro sa P133 million sa presyong P15 per share hanggang P551 million sa presyong P62 per share,” said the former vice mayor.

On top of that, Mercado has alleged that Binay got P100 million from a “loan” that Alphaland gave Noble Care but later condoned.

“Kung idagdag po natin ang kino-condone na P100.4 million loan, ang kickback po ay aabot mula P200 million hanggang P651 million at yan po ay naka submit sa SEC base sa disclosure na sinasubmit ng Alphaland,” Mercado added.

But Aphaland owner Roberto Ongpin, who was also present at the hearing, strongly denied Mercado’s allegations, saying Mercado’s figures were all meaningless and mere assertions.

“For the life of me, I simply could not understand why all of these figures are being flashed on the screen and quite frankly, they mean nothing. They are just numbers and they are just assertions,” Ongpin told the committee.

“Finally, we repeat in the strongest possible terms that there’s nothing irregular or underhanded in the Alphaland-Boy Scouts deal. Everything was and is above board as the Boy Scouts executives or management have themselves said here today,” he added.