JUST WHEN THE SCANDALOUS NBN-ZTE broadband deal with China and the equally controversial North Rail project were about to be forgotten, here comes another government deal that really stinks.
How about these for starters?
Two leading national dailies, the Philippine Daily Inquirer and the Philippine Star, have just came out with the news that House Speaker Prospero Nograles' brother, identified as Jose Nograles, a senior vice president of Land Bank, is reportedly linked to a P5- billion loan from the Land Bank of the Philippines (LBP) to the Quedan and Rural Credit Guarantee Corp. (QUEDANCOR), some P1- billion of which was allegedly diverted to the controversial Swine Fund Program of the present administration.
It appears that as of this time even though the money was released during the last elections yet, people from the Commission on Audit (COA) are still asking and looking where the swine or pigs can be located, if ever.
The Commission on Audit (COA) is not only trying to find where the pigs are, considering that P114.6 -million has allegedly been paid for arranger's fees, legal and notarial fees just for the transaction, but also where the rest of the money went. The P114.6- million allegedly went to Nograles, the speaker's brother. COA is questioning why such a huge amount can be expended when Land Bank and Quedancor are government agencies, and they don't have to spend for such kind of expenses involving several millions of public money in commissions and legal services rendered. And yes, they are still trying to account for the pigs.
Meanwhile, the Land Bank had already paid the huge amount mentioned earlier even as Speaker Nograles maintains that the P114.6 million was not received by his brother. The paper trail on the anomalous transaction however points to Jose Nograles, a top executive of Land Bank, as one of those who made millions in the deal.
Senator Jamby Madrigal who exposed the swine fund mess, however, stood by her story against the Speaker's brother. Tsk, tsk, tsk. - Bohol Sunday Post Newspaper
How about these for starters?
Two leading national dailies, the Philippine Daily Inquirer and the Philippine Star, have just came out with the news that House Speaker Prospero Nograles' brother, identified as Jose Nograles, a senior vice president of Land Bank, is reportedly linked to a P5- billion loan from the Land Bank of the Philippines (LBP) to the Quedan and Rural Credit Guarantee Corp. (QUEDANCOR), some P1- billion of which was allegedly diverted to the controversial Swine Fund Program of the present administration.
It appears that as of this time even though the money was released during the last elections yet, people from the Commission on Audit (COA) are still asking and looking where the swine or pigs can be located, if ever.
The Commission on Audit (COA) is not only trying to find where the pigs are, considering that P114.6 -million has allegedly been paid for arranger's fees, legal and notarial fees just for the transaction, but also where the rest of the money went. The P114.6- million allegedly went to Nograles, the speaker's brother. COA is questioning why such a huge amount can be expended when Land Bank and Quedancor are government agencies, and they don't have to spend for such kind of expenses involving several millions of public money in commissions and legal services rendered. And yes, they are still trying to account for the pigs.
Meanwhile, the Land Bank had already paid the huge amount mentioned earlier even as Speaker Nograles maintains that the P114.6 million was not received by his brother. The paper trail on the anomalous transaction however points to Jose Nograles, a top executive of Land Bank, as one of those who made millions in the deal.
Senator Jamby Madrigal who exposed the swine fund mess, however, stood by her story against the Speaker's brother. Tsk, tsk, tsk. - Bohol Sunday Post Newspaper
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