Mercado: P200m kickback from BSP land went to Binay

By , on January 22, 2015


Vice President Jejomar 'Jojo' Binay (Facebook photo)
Vice President Jejomar ‘Jojo’ Binay (Facebook photo)

MANILA – A total of P200 million in kickbacks went to Vice President Jejomar Binay following the deal between the Boy Scouts of the Philippines (BSP) and the Alphaland Corp. for the development of a one-hectare property in Makati.

The said claim was disclosed by former Makati City Vice Mayor Ernesto Mercado who added that the property located at Malugay Street and Ayala Avenue Extension was mortgaged for the purpose of financing the said property.

He added that Alphaland Corp. owner businessman Roberto Ongpin, who also served as the former trade minister during the Marcos regime was the one who mortgaged the said property t the Development Bank of the Philippines.

The property was mortgaged for P1.7 billion in 2010. Mercado also said that BSP still has to take its shares in the development of the property planned to be constructed as a residential and leisure complex.

In an interview however, Binay’s camp rejected the claims and deny Mercado’s accusations adding that the Vice President had no idea of the deal.

Lawyer Rico Quicho, also Binay’s spokesman said that the Vice President was “not personally involved in the transaction between Alphaland and the BSP.”