Inside Philippine politics & beyond

How was VP Binay able to buy three properties even as a young and poor law student?

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Just my opinion by Raïssa Robles

Jejomar Binay credits his good fortune to what my satirist hubby Alan refers to as the Vice-President’s “days of swine and roses.”

And Alan is right. Binay’s lawyer Princess Turgano recently explained that it was the Binay family’s piggery and flower businesses that enabled the couple to earn an additional net income of P44.35 million from 1994 to 2010.

But what I want to know is:

How was VP Binay – orphaned as a boy – able to buy two properties at the age of 22 and a third property at the age of 23 — while still studying law at the University of the Philippines College of Law?

Two properties were apparently bought in cash for  P14,145 in 1965 and 1966 prices. A third property worth P12,500 was acquired through a mortgage also in 1965.

In 1965, the minimum wage for private employees was P156 a month. A public secondary school principal earned P7,800 a year or P650 a month.

Binay disclosed these three properties and the year he purchased them in the SALN (Statement of Assets, Liabilities and Net Worth) he filed in 2012 as the country’s Vice-President.

Because if he can’t explain this thoroughly, then he may be in trouble.

As VP Binay himself stressed during his speech before an assembly of lawyers yesterday, “The only reason I can be removed from office, among others, would be for the violation of the Constitution during my term as Vice President. That is very clear.”

VP Binay is right. The only time another high government official was removed from office due to the violation of the Constitutional provision on the SALN was in 2012. No less than the Chief Justice of the Supreme Court, Renato Corona,  was convicted by a Senate impeachment court for violating Article XI, Section 17 of the 1987 Constitution which states:

Sec. 17. A public officer or employee shall, upon assumption of office and as often thereafter as may be required by law, submit a declaration under oath of his assets, liabilities, and net worth. In the case of the President, the Vice-President, the Members of the Cabinet, the Congress, the Supreme Court, the Constitutional Commissions and other constitutional offices, and officers of the armed forces with general or flag rank, the declaration shall be disclosed to the public in the manner provided by law.”

I only have a copy of VP Binay’s SALN as of December 31, 2011 which he filed in 2012. I am basing my questions and analysis on this SALN as well as on the public declarations of his lawyers.

Please look below at a portion of VP Binay’s 2012 SALN. You can examine the entire SALN from which this portion came at the end of this piece.

Meanwhile, please examine VP Binay’s property disclosures. I have marked with red and blue dots those properties that he said he had acquired before he became mayor of Makati.

VP Binay was born on November 11, 1942. By the time he was 10 or 11, both his parents had died.

He told me in a one-on-one interview conducted on June 29, 2010 that he had a brother and a sister but both died at a young age. So by the age of 10 or 11, VP Binay was an orphan who lived with an uncle.

Binay himself attests in various speeches and interviews that he was cash poor when he was growing up.

He graduated from AB Political Science in 1962 or around the age of 20.

He graduated from the University of the Philippines College of Law in 1967 at age 25. So we can presume that between 1962 and 1967, he was a working law student. As he has said in interviews and as his profile on the Makati website once stated, VP Binay was at that time a college instructor at Philippine Women’s University, St. Scholastica’s College and Philippine College of Commerce.

He also had a stint as a legal officer in the office of a Manila city councilor but I have not been able to ascertain if he did this before or after taking his bar exam.

In any case, we can establish from all these that he earned enough to put himself through law school.

Which is why I would like VP Binay to explain how – based on his 2012 SALN – he was able to buy:

ONE – A residential lot in Alabang Hills for P12,500 in 1964 around the age of 22.

TWO – a residential lot (thru mortgage) in Victoria Homes, Tunasan, San Pedro, Laguna, worth another P12,500 also in 1964 around the age of 22.

THREE – agricultural land for P1,645 in Liang Pilar, Marivieles, Bataan in 1965 around the age of 23.

These three acquisitions mean he had at least P14,145 in cash to pay for two properties. On top of that, he had left-over money to pay off the mortgage on a P12,500 lot.

Nowadays, P14,145 in cash is not a lot of money.

But in those days it was.

Three documents can give us an indication of the value of that amount around that time when VP Binay was a law student and he bought those lots.

The first document is a petition for citizenship of a certain Chinese national named Luis Yap to the Supreme Court. This case showed that Luis Yap, a secondary teacher in a private school, earned a salary of around P200 a month. The Supreme Court, by the way, ruled against giving Yap citizenship on the grounds that he was not earning enough. You can read the decision by clicking on this link.

The second document is Republic Act No. 4180 which raised the minimum wage in 1965. This law required private employers in non-agricultural enterprises to pay P6 a day. Even assuming a six-day work week, it means the minimum wage at that time came to about P156 a month. You can read RA 4180 by clicking on this link.

And the third document is Republic Act 4477 which took effect on July 1, 1965. It fixed the salary rates of officials in cities and provinces. As I said, thislaw fixed the salary of a secondary school principal in a first class city at P7,800 a year or P650 a month. You can read it by clicking on this link.

Let’s be generous and assume that VP Binay got paid more than the private school teacher but less than the state school principal – that is, between P200 and P650 a month – or around P425 a month. This would translate to P5,100 a year, before tax and before deducting all expenses including food and  transport.   At this salary rate, he would have still needed nearly nearly three years to earn P14,145 in cash to pay for the two lots he had bought in 1964 and 1965. Unless, of course, he had sold some inherited land and then used the cash to buy the two properties.

However, please note that Binay bought his first property only two years after graduating from AB Political Science.

In short, the numbers do not seem to add up.

VP Binay bought a fourth property while he was in and out of jail

A fourth property purchase, that VP Binay disclosed in his 2012 SALN, occurred in 1977. It was a more substantial purchase – P106,800 for a residential lot in Caong Street, San Antonio Village Makati. It is the original lot on which his mansion now stands. It is where I interviewed him in 2010.

How was VP Binay able to raise P106,800 in cash to buy this property? Did he sell or swap any land? Did a client pay him a sizable fee?

I raise this question – which I really hope VP Binay will take the time out to explain – because the purchase was done at the height of Martial Law. He told me during my interview with him that he was jailed “ten times” during that period. Being an enemy of the state is hardly a come-on for paying clients who want to win court cases.

In addition, VP Binay bought his first Caong property at a time when he had increasing family obligations – three of his five children were being born in succession, two years apart of each other.

Maria Lourdes Nancy Binay-Angeles was born on May 12, 1973.

Mar-Len Abigail Binay- Campos was born Dec 12, 1975.

Jejomar Erwin Junjun Binay Jr. was born July 12, 1977 – the same year when VP Binay said he had bought the Caong property, according to his 2012 SALN.

The Binays’ fourth child came two years later. Marita Angeline Binay-Alcantara was born May 12, 1979.

Only the youngest, Joanna Marie Bianca Binay – born November 22, 1988 – arrived when Binay was already mayor of Makati.

I have long thought that VP Binay was highly qualified for the presidency because of his strong administrative background; his out-of-the-box way of thinking; his ability to get things done; his being street-smart; and his charisma with the poor.

I have fond memories of Binay.

My first memory of Binay was that of a dark-skinned man of short stature wearing a crumpled, cheap barong to court between 1981 and 1982. He looked anything but rich. I was covering the ‘We Forum’ trial for Business Day then and he was one of the lawyers along with Rene Saguisag, Joker Arroyo, Martiniano Vivo, Augusto “Bobbit” Sanchez and my father. I made sure never to interview my dad to avoid conflict of interest.

It was fun covering the trial because the lawyers on both sides were all witty. I think the state prosecutor was Jose Flaminiano who later became President Joseph Estrada’s defense lawyer. Every court session was a battle of wits and at one point Binay was fined by the judge for – of all things – laughing out loud in court.

My next memory of Binay was when he was appointed Officer-in-Charge (OIC) mayor of Makati City by then Local Governments Secretary Aquilino Pimentel Jr. Binay – unlike Pimentel’s OIC in San Juan who had to deal with a belligerent Mayor Joseph Estrada – had no problem taking over Nemesio Yabut because the latter suddenly died during the People Power revolt in late February 1986.

Binay greeted me warmly and then told me with a wink in his eye – “Tingnan mo to, o.” (Look at this.)

I didn’t know what he meant by “this” because all I saw was the wall behind the mayor’s executive desk.

The secret bedroom

One section of the wall turned out to be a hidden door that opened to a bedroom. You would not know the door was there unless you were told about it. I remember that the bedroom was a cross between a lady’s boudoir and a hotel room. It was not something you would associate with the mayor’s office, let alone Makati’s kingpin Yabut who was known for his tough, macho ways.

Ah, I thought – having previously met one of Yabut’s mistresses who by the way turned out to be very nice – this must have been Yabut’s trysting place.

I distinctly recall OIC Mayor Binay telling me then that he would have that bedroom removed because it had no place in a mayor’s office. He gave me the impression that he was somewhat scandalized by it.

Years later, when I read reports about Binay taking over Yabut’s extensive political network, behaving like Yabut did and allegedly demanding payoffs from contractors, I could not believe it. I did not want to believe it.

I wanted to know Binay’s side first.

This was the secondary reason why I sought him out for an interview in June 2010. The primary reason was to do a personality profile of him for South China Morning Post (HK).

I have interviewed a number of billionaire businessmen and have asked them how they started out on their road to riches. These included Jollibee owner Tony Tan Caktiong, Megaworld’s Andrew Tan and Manuel Villar. In all these interviews, they were able to pinpoint to me the events that enabled them to get rich.

For instance, former Senator Villar told me how a business loss became his ticket to fortune. He said that he had always dreamt of becoming an entrepreneur one day. He recalled that while he was working as a financial analyst for the Private Development Corporation of the Philippines (PDCP), he was also selling fish to the cafeteria in the building where the PDCP was located. Unfortunately, he had advanced some P18,000 worth of fish to the cafeteria owner, who could not pay him back.

Instead of quarreling with the owner or writing off the loss, Villar came up with a form of debt swap and write-down. “Sabi ko bayaran mo na lang ako ng chits. (I told the restaurant to simply pay me in chits).”

Villar had P18,000 pesos worth of chits printed out. He then sold each chit for P1.20 to fellow PDCP employees. In turn the cafeteria owner agreed to accept each chit as payment for its P1.50 lunch. Villar was in effect writing down debt by 20%.

At least, he told me, he was able to recoup his capital. With that money as well as what he saved from his salary, Villar bought a truck to deliver gravel and sand. And that’s how he started out in the construction business. And the rest is history.

I guess when I interviewed VP Binay in 2010 I had a similar expectation that he would give me a similar clear cut story on how he made his first million.

He didn’t.

All I know is that in his first year in office as mayor – his first steady job – Binay’s lawyers said in a press conference that the VP already had a net worth of P2,527,724.85 (with Assets of P3,510,013.85 and Liabilities of P982,406).
That’s all.

How he acquired P2.5 million worth of assets at the height of the financial crisis that started in 1983 and extended all the way to 1992 while being a prominent oppositionist and a father of four remains a mystery.

He hasn’t explained that yet.

During my 2010 interview with him, I was also saddened to know that Binay not only kept Yabut’s bedroom. He had another one built  in the now controversial “world class” building. Because Yabut’s bedroom, at least to me, was a symbol of what a public servant should not be.

But that’s just my opinion.

What’s yours?

Previously, I wrote how in 2010, VP Binay had told me he had bought – not leased – the land for his piggery.

Pls. also take the time out to read this related story – The trouble with Mar 

Next, I will discuss what VP Binay did to undermine his own dream for the presidency.

Comments

  1. How I wished 90% of the reading public knew about this. When can we have 9 out of ten journalists to work like Raisa, write like Raisa or assess like Raisa?

  2. Dr. Elenita Binay was slightly over 44 years old when she delivered her youngest child in 1988. Just an observation.

      • could be “something else”

        Please note that this baby was born on the 22nd day of the month……
        all the earlier siblings were born on the 12th day of the month

        Trivia: why the 12th day of the month???

        (one bigwig I know affixed “21” in his companies’ names…because he was unceremoniously fired as President of an earlier company…..on an August 21st….and, by intent perhaps, he set up his first company on August 12th ****.)

    • The youngest was actually adopted. Curiously enough, same story as Grace Poe’s: the youngest was a foundling adopted by the Binays.

  3. I think this is the first article I read that actually gives more meat to the bones … Every time I hear mud slinging on Binay, most of the accusations against him doesn’t feel like it can hold water … Of course, being a veteran reader of all papers of national circulation, I have seen fantastic investigations against sitting politicians, that eventually end up to nothing … But this one heightens my sense of doubt … You do not have proof beyond reasonable doubt, but you make a lot of sense …

    You actually showed that it quacks like a duck, walks like a duck … and leaving it to your readers to draw their own conclusions … I say it’s a duck :)

    Kudos to you Ms Robles :)

    • thanks for reading, Sherwin.

      and do join in the discussions here at Cyber Plaza Miranda. Welcome.

      But I must warn you, the debate can get pretty heated sometimes.

  4. Wow! This might have come to me at a very late time but the great article you wrote is very eye opening. Not to mention the GREAT COMMENTS POSTED that sparked a great sharing of ideas and other issues that needed to be talked about when it comes to the Binays. Thank you for opening my senses with great piece of information. I say to the Filipnos, never again! No to Binay!

    • You’re welcome.

      And welcome to Cyber Plaza Miranda, the gathering of Filipinos everywhere.

  5. Whatever the detractors will do, including me, It will still Binay who will win as the next President. Sadly majority of the people of Philippines are either noob or no brain at all. It is the media and religion that brainwashed and controls the mind of every Filipino.

    • Then all the more we have to do something to avert this catastrophe. We are not powerless. We can still make things happen for the sake of our children…

    • Pardon me but I take offense on Mr/Ms Dencie comments. Election results in the Philippines does not always reflect the intelligence of its people, specially national. it’s unfair as well to make a sweeping statement that judge the intellectual ability of the electorate in general. Newbie is a slang term for a new person in a community, group, or video game, and especially on the internet (see internet slang). “Noob” is short for “newbie”, another slang term that comes from the word “new”. A noob usually means a bad player in a game, or someone who does not know the rules of a community. This is the google definition. So, what do you really mean when you used the word “noob” in reference to the people of the Philippines. A newbie? Lastly, media, both broadcast and print’s job is to gather information of public interest that may or may not affect their life etc. Not to brainwashed anybody as you claim. Religion on the other hand just reminds us not to lose our faith and not control us, because they can’t. Now, there might be a handful of clergy who does tried, but please, do not blame the entire religion. And by the way, you said “It is the media and religion that brainwashed and controls the mind of EVERY FILIPINO” let me ask you, are you one of them? coz I’m not.

  6. TAGLUGIN NYO PARA MAINTINDIHAN NG MGA PINOY! LECHE! PURO KAYO PANINIRA…DI NAMAN MAINTINDIHAN NG MASA! Kaya walang silbi ito sa botanteng bobo! kagaya nyo ring bobo!

    • intense ang pagkakacomment. Grade 1 at di maintindihan ang english? common naman ang mga englishwords na ginamit.

    • Brod Jason, hinay-hinay ka lang baka atakihin ka ikaw din. Palitan ito ng opinion, hindi ito pagalingan kung meron ka sabihin mo. hayaan mo sa susunod na sagot ko tatagalugin ko na para seo.

    • sir Jason,,look who’s talking,, sabi mo “TAGLUGIN” baka ibig nyo sabihin e “TAGALUGIN” .. if you know tagalog very well, why use the word “LECHE”??? ‘di naman po ako magaling magtagalog pero “LECHE” is the spanish word for milk or in tagalog “GATAS”.. Dapat sana dahil gusto mo tagalog na rin lang gawin nyo ng tama,,, pesteng yawaa ka..muadto ka diri sa amua kay panitan ta gud ka.. GATAS KA!!

      • Naleche na…hahahahaha…hinay lang daw at baka biglang atakihin ka. Ikaw rin…hehe.

      • i am not defending jason. pero gusto ko lang mgcomment about sa leche word. tama na ang meaning ng leche ay gatas in spanish. pero ginagamit ang word as “immature or childish” kasi gatas is related to child… kaya ang leche is actually a word used to say “you are immature” or “you are childish, incompetent, etc”…

    • Jason,

      Unang-una hindi lahat ng nakabasa ng balitang ito ay mga bobo na katulad ng sinabi mo. Kung hindi ka nasisiyahan sa nabasa mo huwag kang magbitaw ng mga katagang sa mga mangmang lang namumutawi dahil baka isipin kong isa ka sa kanila. Kung sa pakiramdam mo ay nayuyurakan ang dangal mo merong maganda at kanais-nais na pamamaraan para ipahayag ang sarili mo at hindi sa nakapananakit ng damdamin na tulad ng isinulat mo dito. Kung hindi mo maintindihan ang nasusulat dahil ito ay nasa salitang banyaga (which I do not believe) bakit hindi ka mahinahong humingi ng sipi na sa Tagalog? Alam mo kapag lagi ka ganyan sa lahat ng mga usapang sasalihan mo ay hindi ka makakakuha ng kaibigan at lalo na ng pag-galang dahil hindi pagtatanggol ng iyong gustong ipahayag ang nababasa kundi naghahamon ka ng away.

      • pagpasensiyahan na ninyo si Jason at naligaw. mga pam-bobong articles lang talaga ang binabasa niya kaya nagalit nung hindi niya maintindihan ang isinulat ni ma’am raissa!

  7. Mrs. Raissa you should consult the lawyers of PNoy, Mar Roxas, Trillanes, Cayetano or Nestor Mercado to make your observation a hard evidence to pin down VP Binay.

      • :( pero diba, if you stand doing nothing – i mean except for sharing this news – it’s like standing with the opposition? request for enlightenment please. i’m not really active in participating with what’s happening politically.

        • also, what can i do – other than sharing this news to the people – to spread this information

        • sharing is part of doing.

          the more people know, the more they understand the context of political actions and actuations.

        • Hindi.

          I’m not “sharing” the news.

          I’m writing news. If you think that isn’t much, you’re entilted to your own opinion. And you might as well not read the news.

  8. Landowner: Binay bought my property in 2004
    http://www.abs-cbnnews.com/focus/10/21/14/landowner-binay-bought-my-property-2004

    “One of eight landowners of a Batangas estate allegedly owned by Vice-President Jejomar Binay claimed she sold her land to Binay in 2004 for P1.3 million while the latter was still mayor of Makati.

    Maria Guico is one of eight landowners who allegedly holds titles to pieces of land that former Makati vice-mayor Ernesto Mercado earlier claimed belongs to Binay.”

    • If they are not doing it yet, can you please let the senators know that there is a sure-fire way to mete the Papal punishment to Satur(no) erstwhile Susmaryosep

      1. Have the Register of Deeds and the Bureau of Lands make a table survey of the Hacienda Binay and plot all current registered owners.

      2. For sure the claimant dummy owner’s name, Antonio Tiu, isn’t going to appear on the map, but an admitted dummy, Ernesto Mercado, will be there.

      3. Subpoena all the registered owners to know all the truth and transactions behind their lands.

      4. I think this inquiry alone will justify giving Binay the Pope Francis treatment of tying him to a rock with a rope and throwing him into the Pacific Ocean at Palo so that the Yolanda victims can cheer that the biggest thief will no longer be around to steal their money.

  9. http://www.abs-cbnnews.com/video/nation/10/21/14/vp-binay-itinurong-nakabili-ng-lupain-sa-batangas
    try kong mapanood. tungkol sa isang matandang babae na siya raw ang dating may ari ng lupa na binili ni binay.

    wala pa ring video yong interview ni lynda jumilla kay bp binay sa beyond politics kanina lang 7pm.
    marami maitatama siguro don si sir Rene kapag narinig niya sir Rene ang explanation ni bp binay re variance.

    nag eesplika na rin lang naman siya bakit hindi na lang nya diretsuhin sa senado mag salita at doon ay panumpaan nya bawat katagang sasabihin nya.
    bagay kapag napakinggan nyo or maybe most of you have watch the interview, naaasar din kayo sa mga sagot at pahapyaw na depensa.

  10. Landowner: Binay bought my property in 2004
    http://rp4.abs-cbnnews.com/focus/10/21/14/landowner-binay-bought-my-property-2004
    —————————————————————————————————————-

    Maria Guico one of the 8 landlords said that she sold her property to Binay.
    She said she personally met Binay after the mayor allegedly visited the property but that she did not talk to the official
    since she was ill, she was not able to talk directly to Binay..

    at ABS-CBN posted documents presented by Maria Guico, however Binay’s name did not appear and it is not notarized. BUT!… It seems that Binay’s signature is present

  11. Akala kasi ni Binay maloloko pa nia mga tao ngyon, at baka akala nia ung mga sasabihin nia sau e parang sa hangin lang nia sinabi, na di nia naisip n un ay recorded interview at pwedeng maitago ang file for a long time. Kaya sia/sila mahal ng mga taga-Makati kc baka ung mga tao dyan e puro noong stone-age pa mga isip! Pesteng Binay yan di nga nia naayos ang problema ng mga taga-PAGIBIG members – dati pag mag-file ka ng loan ng 9am sa branch nila sa Cotabato City makuha mo rin ng alas-3 ng hapon; next gawa ng taga-Pagibig Management inilipat main regional office nila sa Kidapawan City, ngayon MALALA na kasi ang posting ng loan application mo sa DAAAVVVVAAAOOOO NA! Yan ang magaling, yan ang pamamahala ni Binay!

  12. When the staff of Sen. Pimentel revealed the cost of urinal to be P31,500 each when in fact this costs only around P5,000, or the cost of a hand dryer was P61,500 when the cost of this is only about P6,000 pesos, then it only take a little amount of intelligence to conclude that the Makati Building II is overpriced. What COA should do is to send their Auditors who are CPAs and not those Technical Audit Specialist who are Engineers and conduct what we call Substantive Testing which includes examination of the covering purchase invoices/supplier’s invoices and compare it with the cost being submitted by Hilmarc. By this procedure, I am 110% sure that the overpricing will be revealed. Besides, this procedure will stand in court unlike those being suggested by the Senators. The main reason why these anomalies were not disclosed at an early stage is because the Engineers were the ones who audited. Non-CPAs are allowed by the Auditing Standards to participate in the audit only if their participation is limited and that they should be properly supervised by the CPAs. No wonder why graft and corruption in government is rampant and often undiscovered. It is because COA allows the wrong people to perform the audit.

    • @ Mario G.,

      Kahit C.P.As. o kahit sinong Technical Audit Specialist at Engineers pa ang ipadala mo sa Makati para mag audit kong kakutsaba at nadala/nasuholan nang Tongpats ay walang mangyayari lalo na kong walang bayag at nanginginig as takot kumuntra kay dating mayor Binay Sr.

      Dapat diyan ay dalhin mismo mga Binays sa Hardware Store at ipakita sa kanila ang presyo para mawala ang kapal nang MUKHA nila sa HIYA…NAKAKADIRING…ang overprices…

      • Agree ako sa sinabi mo dahil inherent yan sa anumang internal control system. Kung yung inaasahan mo na magpapatupad ng check and balances eh kakutsaba din pala, eh wala ka na talaga magagawa. Gaya din sa mga batas. Kung pupunta ka sa pulis at magsusumbong at kakutsaba din pala, wala ka din magagawa. Demanda ka at kakutsaba din pala ang Judge, wala ka din magagawa. Ang sinasabi ko, gusto mo ba na ang isang karpintero sya ang mag oopera sa iyo? O gusto mo ba na isang CPA ang mag aabogado sa iyo sa Korte?

        Dun naman sa punto na dalhin mo sa Hardware Store at ipakita sa kanila ang presyo, napakadaling sabihin yan pero isa yata itong stupidity. Dadalhin mo ba yung Judge at buong Korte sa Hardware Store? Ilang Hardware Store ang pagdadalhan mo ng Judge at mga litigants? At babalik ba kayo sa year 2007, 2008, 2009, 2010, 2011 dahil jan sa mga taon na yan nabili ang mga materiales na yan at iba iba ang presyo nun?

  13. Corporations are usually used to conceal wealth especially those amassed illegally. Let me give you a clear example. Corp. A is put up to acquire a 350 hectare lot in Batangas. The incorporators are G. Limlingan, and 4 other dummy individuals who are acting for and in behalf of Jejomar Binay. By the way, if you put up a corporation with an Authorized Capital Stock of P1M, all you need is to put up P62,500 and have it deposited under the names of the pre-incorporation President, and Treasurer, fill out an express form from the SEC and in 3 days, you can have the Corporation registered. Going back to Corp. A, since the incorporators are known dummies of Jejomar Binay, Corp. B is put up whose incorporators may be business associates of Jejomar Binay. Corp B now acquires 100% of the stocks of Corp A therefore, it appears now that the subject property is owned by Corp. B. To further conceal the true owner, Corp. C is put up again to acquire 100% interest in Corp. B. At this point, the owner of the subject property is Corp. C. Jejomar Binay now puts up Corp. D purposely to acquire 100% interest in Corp C therefore Binay owns the subject property although buried in 3 other corporations. Or this can be concealed thru a simulated sale. Binay sells the land to Corp A, Corp. A to B, Corp. B to C and C to D which is owned by Binay. So remember Binay selling the land to Agri-Fortuna, then Agri-Fortuna to Sunchamp to Greenergy Holdings and another corporation Earthright came into the picture. Sunchamp and Earthright are the major stockholders of Greenergy Holdings. Earthright by the way, share the same address with the law firm of Abigail Binay. Which proves that Corporation is only on paper and does not have any physical existence.

    • Hi Mario,

      Do you think you could help us by doing a chronology of Sunchamp, Agrinurture and Greenergy? How they all fit in together?

      Thanks.

      Raissa

      • I based my discussion on the evidence presented by Sen. Trillanes. I can help by giving you some pointers on how to go about the investigation in order to really ferret out the truth.

        Let me first point out the following:

        1. Most agricultural lands in the Philippines are not covered by Certificates of Title. Rather, ownership is evidenced merely by TAX DECLARATION. In local parlance, we term it as RIGHTS.

        2. If the land is not titled, then this is part of the LAND OF PUBLIC DOMAIN and according to our Constitution….’NO CORPORATION SHALL ACQUIRE LANDS OF THE PUBLIC DOMAIN”.

        Jejomar Binay claims that he sold the subject property to Agri-Fortuna which is obviously an attempt to conceal the real owner because the incorporators of Agri-Fortuna are his dummies/employees. If the subject property is titled, then there must be a DEED OF ABSOLUTE SALE that was executed by and between Jejomar Binay and Agri-Fortuna. Therefore, at the back portion of the Transfer Cert. of Title(TCT) there will be an annotation made by the Register of Deeds of Batangas this effect. Recently, Tony Tiu claims that Sunchamp owns the property therefore there must be a transfer of ownership from Agri-Fortuna to Sunchamp. If this is true, then these transactions would be annotated at the back portion of the TCT. Therefore, if the Blue Ribbon Comm. wants to verify if the claims of Binay and Tony Tiu are true, the Blue Ribbon Committee should issue a subpoena duces tecum for Tony Tiu to submit the Deed of Absolute Sale between Agri-Fortuna and Sunchamp and to submit the covering TCT so that the Blue Ribbon Comm. can verify the annotations at the back of the TCT. If Tony Tiu does not submit the TCT, Trillanes should go to DENR Batangas and obtain an Approved Survey Plan of the subject property and he will be able to determine the exact PSU Number of the subject property which will be the basis for the Title Search in the Registry of Deeds of Batangas.

        If the subject land is not Titled and ownership is merely by RIGHTS, THEN OBVIOUSLY THE CLAIMS OF JEJOMAR BINAY AND TONY TIU ARE NEGATED BECAUSE THERE CAN NEVER BE A VALID CONVEYANCE OF THE SUBJECT PROPERTY FROM AN INDIVIDUAL TO A CORPORATION OR A CORPORATION TO ANOTHER CORPORATION BECAUSE OF THE CONSTITUTIONAL PROHIBITION.

        • pag me deed of abslute sale na. normally magapply ka for the registratoin of the land and isssuance of new title after payment of capital gains tax and other transfer fees. wala ng annotation sa old title kasi ikakansela ito.
          ang annotation is for the liens tulad ng rem

          you may need a certified true copy of the cancelled title to trace the sale

      • Sen. Trillanes presented a newsclip that Greenergy Holdings was buying stakes in Sunchamp and Earthright. However, the website of Greenergy Holdings showed that the majority stockholders of Greenergy Holdings was Earthright Corp. and Sunchamp Corp. Earthright Corp. owns 14.455% interest and Sunchamp owns 10.176% and they are being represented in Greenergy’s website as the majority interest. This is totally absurd! Take note that the majority owners of Greenergy are Earthright and Sunchamp but according to the newsclip, Greenergy is buying Earthright and Sunchamp. It is like saying, “I BUY YOU, YOU BUY ME”. It appears to me that in their desperate attempt to cover up the true owner of the 350 ha. property, it resulted to an OBVIOUS ABSURDITY! Simply stated, Corp A and B are the owners of Corp C. Then Corp. C is buying Corp A and B. Therefore, Corp C is buying itself!

        Earthright is obviously a Corporation on paper only. It has no physical existence such as tangible assets and business operations. Why? Earthright Corp. is inside the office of Subido, Pagente, Certeza, Mendoza, and Binay law office. Earthright Corp shares the same address with the law firm of Abigail Binay. Indicative that this Corporation is owned by Binay.

        When Tony Tiu admitted on media that he owns the minority interest of Greenergy Holdings and further claimed that he is the owner of Greenergy, then he must be a joker. How can a minority owner of a corporation be the owner of the Corporation? It is grossly unlikely that a minority owner of a publicly listed corporation become even the President of the Corporation. The majority owners would not allow this unless of course if the majority block is owned by Jejomar Binay. So, we have to know who the owner of the 70% of Greenergy Holdings. If the 70% is owned by Binay, then the example I have given is exactly the same. Binay sells the property to A Corp, Corp A sells it to Corp. B and Corp C which is owned by Binay acquires majority interest in Corp. B. Ergo, the subject property started with Binay and ultimately ended up with Binay.

        The most I can do Raissa is to give you some pointers because I am here in the US. But you can seek assistance from seasoned auditors like SGV if you know someone. I used to be an SGV Auditor. Mind you, this is their cup of tea.

        Allow me to suggest the following:

        1. Know the majority owner of Sunchamp. This may be available in the General Information Sheet submitted by Sunchamp to SEC. This is a public record.

        2. Know also the majority owner of Greenergy Holdings. The probability that the majority block is owned by Binay and that is the reason why Tony Tiu is the President despite owning the minority interest. Binay owning the majority interest in Greenergy is an INSURANCE THAT TONY TIU WILL NOT KEEP THE 350 HA. PROPERTY FOR HIMSELF. So, if Binay owns majority interest in Greenergy Holdings and that Greenergy Holdings own the majority interest in Sunchamp and Earthright, then THERE IS NO DOUBT THAT THE LAND STARTED OUT WITH BINAY AND ENDED UP WITH BINAY.

        • thanks for the great presentation sir mario., idagdag ko lang po na tax declared (unregistered land) ang 350 ha. propertiy at sa application for administrative patent before sa office ng cenro (denr) ng batangas, dapat doon pa lang na deny na considering na corp. yong petitioner at ang approval nito ay aabot sa denr secretary considering sa laki na area involve at di na umabot sa register of deeds ng batangas., ministerial na sa part ng rod batangas na i-approve ang title lalo na may order na ito galing sa penro (denr) or worst galing ang oder sa secretary ng denr…isabay ipatawag sa senado at pa imbistigahan ang cento/penro/secretary ng denr na nag issue ng order at administrative patent.don pa lang malinaw na grabe ang manipulations na ginawa ng ahensyang ito.salamat

        • If it is an Agricultural Land, An EPT (Emancipated Patent Title) is issued to the claimant/awardee and it can never be sold to anyone unless the EPT is converted to TCT (Transfer Certificate Title)…

        • And before an EPT is to be converted into a TCT, a tedious work is needed with the DENR and the BIR before bringing it to RD. Sa DENR pa lang po, sa lake ng pinaguusapan, napakabilis na ang 6 months, tapes may BIR pa. Sa RD aabutin ka run ng 2 to 3 months…kung swerve ka…

  14. naglilibot si Jun Jun Binay sa mga eskwelahan sa Makati para mag SONA at sabihin sa mga magulang at mga estudyante ng elementary na sinisiraan daw sila ng pamahalaan tungkol sa building na pinagawa nila. Si VP naman nasa BSP naman magaling na stratehiya na hubugin ang mga isip ng mga tao na ang mga Binay ay ang mabubuting tao, Mukhang malabo ng matanggal sa makati ang mga binay lalo na tinatanim na nila sa isip ng mga bata na ang Binay ang mabuti at ang kalaban ang masama. Magandang strategy pang long term. Makabili nga ng Green sa Lunes baka maraming makuhang project to pag si Binay ang manalo sa 2016.

    • The Department of Education has the power to ban JunJun Binay from making the elementary school rounds manipulating and twisting the minds of the parents and pupils on the truthfulness of Binays corruption and on their unexplained wealth. This is a very serious misconduct of a government official trying to keep the parents on their sides while Binays are under investigations that in doing so, Junjun makes it appear the government is peddling lies against them, demolishing the Binays Robinhood structure. Junjun is turning the parents and pupils against the government.

      Junjun Binay has the power to make school rounds within Makati but the Department of Educations has a national power over the educational institutions so it should send a memo to the principals of Makati elementary and secondary schools to prohibit Junjun from giving speeches. Calling the DepEd officials, do something about this.

      • dodong & letlet, junjun binay is turning elementary schools into political battlegrounds. children under 12 dont really have sound understanding of politics. they dont have the maturity for it. but junjun does not really care if these chidlren are confused or not. they’re just fodder to him.

        child psychogists said you should never use children to fight adult wars and teach them hate. but junjun is doing it. it’s unfair to burden children with his problems as if children have no problems of their own. they have homework and housework to do, assignments as well. they need time to study, understand lessons and pass exams. children should not be thinking and spend time worrying about how junjun is coping in life, worried baka hindi na matuloy ang edukasyon nila dahil galit yata si junjun at baka pag-initan pa sila at isara ang escuela. they should not be made to feel hostage or guilty.

        let them be children, not junjun’s warriors indoctrinated. in classrooms, children cannot say no, they cannot walk out for fear of being punished by junjun. their teachers ought to stop junjun in his track. tell him to submit proposal to deped and not just barge into classrooms, huffing and puffing like a contrabida.

        • those children are ought to be monitored and counselled if need be. they might be traumatized by the scenario presented before them. forced to grow up and deal with reality too soon, ill equipped to handle and solve adult problems. baka maging suicidal sila, withdrawn and overwhelmed. or they might become bullies to children not from makati. hostile.

        • We have to remember that when Junjun Binay give his SONA speech to these elementary schools, his audience / listeners are mostly the parents, teachers and school workers who befall to the crunching lies and dangerous lies of Junjun. We know how this Machiavellian creature is a very nasty piece of work who anyone should not listen to. Those educators know what and who to believe to but have no recourse to get away from the clutches of Junjun.

        • phew! thanks, letlet, you saved me. I was about to pelt junjun binay with eggs and tomatoes. next time, I think, I’ll use rocks. that man is heavily armored.

          so, terribly, terribly glad some parents and teachers are deaf. what comes in one ear, goes out the other. hep,hep, hurray!

        • Pelting Junjun with rocks can cause injuries, and you might be sued in the court. With eggs and tomatoes, and also flour, I will help you pelting Junjun.Hep, hep, hurray.

          It seems he forgets that the Binays can fool some people sometime but they can’t fool all the people all the time.

  15. In his 2011 SALN Binay declared a residential lot in Barangay Luksuhin, Alfonso, Cavite near the Alfonso-Tagaytay boundary. VM Mercado testified that said lot comprises 1000 sqm. Binay said that he acquired the said lot at PHP3M in 1994 as payment for a case he won as a lawyer.

    It is not clear when Binay rendered his professional service to his client. If it were in 1994 or thereabout, he violated the law prohibiting incumbent mayors to practice their profession. Or is it another LIE?

    But my worry is that while Binay acquired the said lot at a cost of PHP3M in 1994, he declared its market value at PHP59,000 in 2011. Apparently, the PHP3M declaration by Binay of its acquisition cost in 1994 is correct. A quick search reveals that the current value per sqm of land in the area is PHP4,000. That would make the current value of subject lot at PHP4M which value is very far from the declared value of PHP59,000. Is it another LIE?

    Another question. Why did Binay fail to declare the value of the mansion built on the lot? Am sure the house costs more than the Purisima house in Nueva, Ecija which Purisima declared at PHP3.7M.

    At a construction cost of PHP25,000 per sqm, the Binay house would cost PHP12.5M, assuming a floor area of only 500 sqm spread over the two storey house. Consequently, Binay should have declared acquisition cost of PHP16.5M for the house and lot concerned.

    Corona was impeached and removed as Chief Justice for misdeclaration of his SALN.

      • I am referring to the same SALN in this article. I call it 2011 SALN because the content comprises assets as of December 31, 2011. You call it 2012 SALN because it was filed on April 30, 2012. Same document.

        • Hmm. You’re right Rene-Ipil.

          The Alfonso, Cavite’s Estimated Fair Market Value as of Dec 31, 2011 is P59,580.

          What is Fair Market Value?

        • “i. Fair market value shall, for purposes of declaration in the SALN, refer to the amount indicated as market value in the tax declaration of the real properties concerned.”

          http://www.pcoo.gov.ph/SALN2012guide.pdf

          Generally, the fair market value is the price a buyer is willing to buy and the seller is willing to sell.

        • REALLY?

          Hmmm. Hey guys, let’s line up and try to buy the Alfonso, Cavite estate at P59,000 if that’s his fair market value.

        • Me! Bibilhin ko yan for P59,000 :)

          I have been a government worker for 10 years at never ako naka-afford ng bahay at lupa so yeah kung talagang fair market value yang 59,000 akina!

          To think na nagpa-file din ako ng SALN … I can’t stomach it when higher government officials are so … crooked with what they put in that piece of paper. So ano ito, lokohan????

        • On one condition: ‘Do not register the sale and I get all copies of the sale documents!’ – Says Binay.

        • Fair market value is the price set by the government and you cannot sell your property lower than this value. When my 92 year old dad wanted to transfer to me the ownership of their house and lot, instead of me paying inheritance tax, we just made a deed of sale, me buying their properties at a fair market value because it is much cheaper than paying inheritance tax. But no one will sell his property at this value, always what is the current one, kung ano ang selling price on that location at a given time which is always much higher than fair market value. Thanks.

        • Fair Market Value(FMV) is different from Assessed Value. FMV is that price at which a buyer is willing to buy and the price at which a seller is willing to sell. If I point a gun at you and ask you to sell your Toyota car model 2014 at P1, one peso is not FMV because you were not willing to sell it at P1. Assessed value is an estimate of the current price which is usually for tax purposes. Assessed value should ideally be near the FMV. However, since this is for tax purposes, the taxpayer reports a lower amount in order to CHEAT THE GOVERNMENT. Clearly, when Binay’s acquisition cost or what we call historical cost is P4M and reported only an assessed value of P59,000, then he cheated the government on the applicable tax on the difference of about P3,940,000.

        • My bad, Raissa. I was talking about “assessed value” NOT “fair market value” as what Mario Guadana corrected below. Thanks.

        • Indeed, the assessed value indicated in the SALN is P11,000. In Batangas a residential house with assessed value of P100,000 is taxed About P2,000. So that the real property tax paid by Binay would be about P200.00 – two hundred pesos – only. Can you imagine that? A real property worth P4M pays P200 tax. UNBELIEVABLE.

        • Hindi ko bibilihin ang property? Kahit bigay ay hindi ko tatanggapin. Bakit kamo?

          Kasi yung dating P3M na halaga ay wala na o ZERO. Kasi yung picture ni VM Mercado ay circa 2010 pa. Pero noong early 2011 ay gumuho and lupa kasama ang mansyon dahil overlooking Taal Lake ito at malapit sa bangin. Kaya sa 2011 SALN ay nag- declare si Binay nang halagang P59,000 para kung sakali ay makadugas ng bibili. Balita ko ay nabenta nang P1,000 nuong 2012. Theory ko lang.

        • Baka ang ginamit ni Binay ay zonal valuation which is usually much much lower than the fair market price.