State prosecutors have charged 14 persons at the Sandiganbayan over the Zamboanga City Electric Cooperative’s (Zamcelco) 2007 purchase of P28.75 million of an allegedly overpriced lot from a seller who did not yet own the property.
The case stemmed from then-National Electrification Administration deputy administrator for electric distribution utilities services Pablo Pan III’s alleged conspiracy with 12 Zamcelco officials to approve the procurement of two lots in Camachile Drive from private individual Jovita Yeo.
The officials paid Yeo P28.75 million, even as she was not yet the registered owner of the lots covered by Transfer Certificates of Title Nos. T-129-2011-000346 and T-129-2011-000347 at the time the deal was awarded, according to the charge sheet.
Yeo allegedly bought the land from its previous owner for only P4.74 million—which meant Zamcelco paid six times the price for the same lots. —Vince F. Nonato