Trillanes seeks probe of UMak

SEN. ANTONIO Trillanes IV has written  the Anti-Money Laundering Council and the Bureau of Internal Revenue urging an investigation into allegedly questionable transactions by the University of Makati (UMak) and private corporations amounting to half a billion pesos which were the subject of hearings by the Senate Blue Ribbon subcommittee.

Trillanes, who is running for vice president, made a similar request to  the Securities and Exchange Commission and the Philippine Stock Exchange.

In a statement, Trillanes said Makati school officials “misappropriated”  P547.42 million in funds intended for the university and diverted this to Philippine Healthcare Educators Inc. (PHEI), a private company.

The University of Makati and Systems Technology Inc. (STI)  had a joint venture to operate a nursing school at the university and they put up PHEI as the corporate vehicle to manage the nursing college.

He said the officials involved were Vice President and former Makati City Mayor Jejomar Binay, his son, former Makati Mayor Junjun Binay, UMak president Tomas Lopez and private individuals, including STI chair Eusebio Tanco, president Monico Jacob, Annabelle Borromeo and Jack Arroyo.

A plunder complaint involving the University of Makati’s joint venture with STI is pending in the Office of the Ombudsman.