Tuesday, June 2, 2015

Suertres Tips/Swertres Tips of the Philippines and Lotto Results Today - Jun 02 2015


Senate report finds 'grand conspiracy' in Makati building overprice
By Ryan Chua, ABS-CBN News
Posted at 06/02/2015 1:23 PM

10 senators sign report recommending plunder charges for VP Binay, other officials

MANILA - The report of a Senate subcommittee that investigated the Makati City Hall Building 2 says there was a “grand conspiracy” to overprice the structure by over a billion pesos, with Vice President Jejomar Binay and his son at the center of it.

Ten senators have signed the Blue Ribbon subcommittee’s partial report, ensuring its endorsement at the Senate plenary. It was released to the media on Monday.

According to the report, the building is “clearly overpriced” by at least P1.12 billion and as much as P1.39 billion, amounts that are “way above the threshold amount of P50 million for the crime of plunder.”

The report made its conclusions by comparing the project’s cost to its current market value and the cost of other buildings, expert testimonies, and other methods.

“The Subcommittee believes that there was a grand conspiracy to milk the construction of the Makati City Hall II Parking Building for every peso that it could yield, through massive unmitigated overpricing,” the report says.

It states that Binay and his son, Makati Mayor Junjun Binay, are liable for plunder because they signed as agency heads the documents related to the construction of various phases of the building.

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For  June 01, 2015 Monday

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