AIM High, sell low, someone's driving in a hotter than hot yellow Mucielago...

[pink_cadillac]

From Inq7.net

FORMER Asian Institute of Management (AIM) president Felipe Alfonso should take crash lessons in Scam 101.

The Ramon Magsaysay Award winner is now the object of a P28.5-million collection complaint after he entrusted four pre-signed blank checks to a smooth-talking car salesman whose family he had wanted to give a second chance.



According to the legal grapevine, Alfonso thought that the blank checks that he handed to a certain Anthony Bitanga of the Corinthian Gardens subdivision would go toward posting bonds related to alleged court cases in Batangas province involving Alfonso.

It turned out that there was no Batangas judge, and, worse, that Alfonso had no pending cases in the province at all.

Instead, his checks were used to acquire three high-end, brand-new luxury vehicles -- a Lamborghini Murcielago, a BMW 645 Ci, and a BMW X3.

Of the four Alfonso checks, the first one, for P4 million, cleared, and went to pay for the X3. The three others bounced.

Alfonso has sought the help of Interior and Local Governments Secretary Angelo Reyes, an alumnus of the AIM, to recover his money and clear his name.

As well, Alfonso has hired lawyer Reynaldo Geronimo of the blue-chip Romulo Mabanta law firm in view of the impending "estafa" [swindling] complaint against him, as the car dealer who had been paid the bouncing checks, Rolando Evangelista, is now running after both Alfonso and Bitanga.

"I have received extortion attempts to cough up [the] money, just to retrieve the cars and return them to the unpaid owner," Alfonso said in his letter to Reyes.

Strangely, Alfonso, who is also the vice chairman of Metropolitan Bank and Trust Co., in charge of the risk management committee, gave Evangelista the green light after the car dealer, suspicious as to the amount and the number of checks, called him to countercheck.

Apparently, Alfonso, who admitted to talking to Evangelista on the phone, did not know that the checks were being used by Bitanga to acquire the exotic vehicles.

According to the grapevine, Alfonso trusted Bitanga, who is said to be in his late 20s, despite already having been traumatized in another case by Bitanga's father, after the young Bitanga personally apologized to Alfonso in behalf of his dad.

Incidentally, the elder Bitanga was an AIM student, like Evangelista, the car dealer.

Meanwhile, the X3 SUV has been seen being used by Bitanga himself, and the 645 Ci is reportedly in the hands of another car dealer, Rolando Esguerra of Quezon City.

The yellow Murcielago, according to the grapevine, is now being driven around by a certain JP Lomotan, who claimed he had paid Bitanga P7 million for the exotic super car.

If the amount is correct, that P7 million is a bargain, considering that the 6.2-liter, V12-engine, 580-bhp, two-door sports coupe, capable of reaching speed of more than 330 kph, costs about $195,000 overseas, or more than P10.9 million, without taxes and freight charges yet.

But that, as well as who actually imported the three vehicles, is another story.

[pink_cadillac]

I have a weird feeling that all three parties were involved.

Bitanga, the dealer who sold him the cars, and probably the dude he's got the car consigned to.

But 7 million for a Murciellago is indeed a bargain.

Show of Receipts PLEASE!

[Kicker15]

he should have known better not to give out blank cheques

[kyle618]

wow 7m for a murci is cheap!! congrats to the buyer! nice buy... although sana hindi na i -reposess... lol

[CZintrclr]

hey, i've met this Boy Evangelista a few yrs back. That time he was utilizing a very old small house near e.rodriguez. But as the rusted gate opened, WOW Puro modelong BMW's, and Benz's sports/luxury/suvs nakita ko. Kilalang kilala si Boy sa mga rich n famous people dahil sila ang mga monthly customers niya.

[glntVR]

wow 7M for a Lambo Murcialago!?! damn! that is super bargain. 7M won't even get you a Gallardo or a Porsche Turbo

[konde]

i thought issuing of blank checks is only done in the movies! but for it to be done by no less than a former president of AIM..........hmmmmm

[niky]

Baka secondhand yun... atsaka downpayment. :D


I can't believe Alfonso would be that stupid... and then to clear the checks after talking to Evangelista... I'm pretty sure he told Alfonso what they were being used for...

What a mess.

[van_wilder]

i know some of these car dealers... actually my dad knows them better... hehehe... kaso ayoko itanong sa dad ko... hehehe...

grabe sila kung bumili ng auto ah parang hindi naghihirap ang bansa... sabagay yun ibang mga politiko rin naghiraman ng sl500 pati sl55...

[gearspeed]

Wow kaingit naman niyan at swerte naman niya..:D

[timyong]

bitanga? ito ba yung may ari ng mga blt transit???? kung ito nga then sya pala yung sobrang scandalous, pinagmumura ng asawa sa hotel lobby because of kabit.

[luckytruck]

takot na nga ako mag-issue ng postdated check....blank check pa kaya

i don't think he would be that outwardly stupid. mayroong side pa yan ng story na hindi natin alam.

yan ang opinion ko

[kimpOy]

something's wrong...
would you issue a blank check? 4 black checks pa? well unless a gun is pointed to my head, yes.

a blank check for some legal issues? well the AIM president should know kung may legal matter siya,

then clearing the 4million???

something's wrong here.

[pink_cadillac]

You could only imagine how much some of these people have lying around in their current accounts.

But it appears that once a notable figure issues 4 blank cheques, the benefit of the doubt, goes to that person because of good faith that the cheques weren't going to be used for anything illegal.

Then again, it may well have been a business transaction gone bad.

[odell]

hinde lang clear un pagkwento niyan.. sigurado ako na may mga tagong reasons and stuff yan..

[Ungas]

Di kaya yan yug yellow Lambo na galing sa Six Speed na nakita namin ni hens? At yung i-dinisplay sa launch ng isang local magazine na may kuha pa si mbt?

[glntVR]

Ungas. i think yan yung Lambo sa six speed shop. isa pa lang ata ang Murcielago dito.

[pink_cadillac]

The only Marciellago I saw was an orange one in the launch of a localized foreign magazine.

Was it Yellow? I'm pretty sure it was orange. Or was it that 4x4 that was orange? Or both.

[van_wilder]

six speed or speed seven? tama si odell, may story pa yan na hindi nakwento...

[altec]

sounds like an illegal transaction gone sour.