VP Binay got up to P651M from Boy Scouts land deal, ex-ally Mercado claims

By ANDREO CALONZO, GMA News

Published February 18, 2015 9:54am

(Updated 2 p.m.) Vice President Jejomar Binay got up to P651 million from a land deal between the Boy Scouts of the Philippines and property developer Alphaland Corp., his former ally and former Makati Vice Mayor Ernesto Mercado said Wednesday.

In his latest testimony before the Senate blue ribbon subcommittee hearing, Mercado claimed that based on his computations using the prices of Alphaland’s share, Binay did not just get P200 million from the allegedly anomalous land deal, as he had claimed earlier.

“Depende kung naibenta na ang share, at kung kailan nabenta ang mga ito, ang kickback ni VP Binay mula sa Alphaland share ay maglalaro sa P133 million, sa presyo na P15 per share, hanggang P551 million sa presyong P62,000 per share,” Mercado said.

“Kung idadagdag po natin ang kinondone na P1.4-million loan, ang kickback po ay aabot mula P233 million hanggang P651 million,” he added.

Mercado further said Binay essentially defrauded the BSP through the P600-million deal involving the joint property development venture.

He said the BSP should have received more from the deal, since the value of the property in question already increased after having been reclassified.

Binay’s camp has already denied Mercado’s allegations.

The BSP also earlier denied entering into an anomalous contract with Alphaland for the development of a one-hectare property in Makati City

During Wednesday's hearing, BSP senior vice president Wendell Avisado reiterated it had not entered into any anomaly, stressing that the accusations of Mercado against Binay are only driven by “politics and personal vendetta.”

"Individually and collectively, we cannot see any other reason why Mr. Mercado is refuting the agreement now by his unfounded accusations, except his political vendetta against Vice President Jejomar Binay," Avisadp said.

"To destroy the name, honor and reputation of VP Binay, he does not mind unnecessarily dragging the BSP into the controversy, to the extent of destroying it with his malicious assertions," he added. "By his reckless accusations, he is sowing confusion, suspicion and mistrust in the BSP as a noble youth serving institution."

Initial allegation vs. Binay

Late last month, Mercado accused Binay of getting P200 million in kickbacks from the deal between BSP and Alphaland.

According to Mercado, based on the contract between BSP and Alphaland, the BSP was supposed to receive P600 million for the Alphaland's development of a one-hectare property donated by BF Goodrich Philippines (now Sime Darby) to BSP in 1976.

Mercado said that up to now, the BSP has yet to receive its share from the joint property development venture, while Binay has allegedly already received P200 million from the deal.

The former Makati vice mayor also claimed that Binay, longtime BSP president, used the supposed kickbacks to fund his vice-presidential bid in 2010.

Alphaland Corp. president Mario Oreta had also belied Mercado’s accusations, saying that it was the ex-Makati vice mayor who asked for kickbacks. The property developer has also lodged a P100-million damage suit against Mercado. — RSJ, GMA News

Tags: ernestomercado, jejomarbinay, makaticityhallbuildingii, boyscoutsofthephilippines