Ping Lacson's "bombshell" speech vs Erap

[shadow]

Actually, Lacson and Estrada are both rotten eggs. Pareho silang mababaho. May katotohanan ang mga pasabog ni Ping kay Erap. Pero kaya lang naman nagsalita si Lacson ay dahil may umiipit sa kanya sa Dacer-Corbito murder case. Kung talagang hindi siya sangayon kay Erap nuong nasa pwesto pa ito e bakit isa siya sa huling nag-withdraw ng support nuong impeachment?

Hay, pulitika nga naman . . .

totoo nga yun sinasabi ni Lacson about Erap wala naman nagsabi na hinde totoo, but those juesteng money was moot and academic tapos na yun eh Erap was already found guilty and pardoned... what's new? ano pa ba ang hinde natin alam kay Erap?

diversionary tactic ni Lacson lang ito...

[vito corleone]

"god save the philippines from joseph ejercito estrada and panfilo lacson!"

[Monseratto]

"god save the philippines from joseph ejercito estrada and panfilo lacson!"

"God save the Philippines from our POLITICIANS"

[claRkEnt]

Si Mark Jimenez dapat tanungin ni Ping. Or si MJ na ba ang taga-feed ng info kay Ping? Hmmm...

wala na. may sayad na sa utak si Mark Jimenez di ba?

[Monseratto]

Naku sir MVP, PLDT is now placed in a bad light... Can Yuchengco get back his shares with this revelation? Can MVP can now be charged with bribery?

Yuchengco confirms being forced to sell PLDT stake

MANILA - Tycoon Alfonso Yuchengco on Tuesday confirmed that he was forced to sell his stake in a company that had shares in Philippine Long Distance Telephone Company (PLDT) after receiving threats allegedly from then president Joseph Estrada.

In a statement, Yuchengco confirmed Sen. Panfilo Lacson's statements that he was pressured to sign conveyance of his shares in Philippine Telecommunications Investment Corporation (PTIC) to Metro Pacific Investments Corp. (MPIC).

"I confirm the statements made by Senator Panfilo Lacson in his privilege speech relating to my 7.75% PTIC holdings, equivalent to 2,017,650 PLDT common shares. These shares were taken from me in 1998 through sheer intimidation and serious threat to my businesses, myself and my family," he said in a statement


President Estrada’s role in the entry of First Pacific into PLDT has long been one of the classic cases of politics getting involved in local business transactions.

Independent media group, Philippine Center of Investigative Journalism, cited the PLDT case in its December 1998 article, “The Pare Principle.” The article tried to establish how President Estrada abused his power.

“The phone call he made in November to PLDT director Alfonso Yuchengco, virtually ordering the latter to give up his claim to the Cojuangco shares in favor of First Pacific, is an example of the many powers that the president has which is not spelled out in the rulebooks,” the article said.

The book, “Getting a Dial Tone,” was more explicit.

Author Lorraine Carlos Salazar noted that a P20 million check that Pangilinan supposedly paid as bribe to President Estrada was one of the checks deposited to the controversial Jose Velarde bank account.

The book recalled how former Securities and Exchange Commission chair Perfecto Yasay was trying to investigate whether the MPIC-PLDT transaction complied with the Securities Code.

Yasay, however, was not able to proceed with the investigation since suspension orders were handed down against him. Yasay eventually resigned.

Nonetheless, Yasay revealed in the media and during the impeachement hearings against President Estrada in January 2001, that a kickback of some P1 billion was paid to President Estrada to facilitate the transaction.

After the People Power or EDSA 2 led to President Estrada’s removal from office, “one of the first plunder and graft cases filed in the Sandiganbayan against President Estrada included Pangilinan as a co-accused. Allegedly, Pangilinan issued a P20 million cheque to Estrada, and was one of 67 that were deposited into an account that Estrada held under the pseudonym Jose Velarde.” With a report from Lala Rimando, abs-cbnNews.com/Newsbreak

[Monseratto]

wala na. may sayad na sa utak si Mark Jimenez di ba?

MJ is the key if you want convicted plunderer Estrada be placed behind bars...

Estrada strongly defends his friend. Last week, on his weekly nationwide talk-show program, he confirmed that Jimenez "brokered many corporate mergers," including the recent takeover of Philippine Long Distance Telephone Co. (PLDT) by Hong Kong-based conglomerate First Pacific and the purchase of 72% of PCIBank, the country's sixth largest financial institution, by the Equitable Banking group and the two state-run pension funds. (Rumors now also link him to recent deals to run lucrative jai-alai and bingo betting operations.) For facilitating the PLDT deal, Jimenez is said to have earned a $50 million fee. The PCIBank merger raised a stir because the buyers agreed not to conduct a due-diligence audit even though public funds were involved in the acquisition. "He has done a lot of good for our economy so that's why I call him a corporate genius," Estrada says in Jimenez's defense. "Mark is an asset. He was able to double stock-market values. The index went up from 1,200 points to more than 2,400."

http://www-cgi.cnn.com/ASIANOW/asiaw...0702/nat3.html

[shadow]

bilisan lang nila and speed ng DSL, wala akong pakialam sa kanila..

[shadow]

MJ is the key if you want Estrada to placed behind bars...



http://www-cgi.cnn.com/ASIANOW/asiaw...0702/nat3.html

wala ngang nagawa si MJ, sa case against Nani Perez eh.

andoon na yun sa mount banahaw nag retreat siya

[innoBOB[09JmtG]]

if only i had the power.. i'll send both of them to the moon!! bwahaha

[explorer]

totoo nga yun sinasabi ni Lacson about Erap wala naman nagsabi na hinde totoo, but those juesteng money was moot and academic tapos na yun eh Erap was already found guilty and pardoned... what's new? ano pa ba ang hinde natin alam kay Erap?

diversionary tactic ni Lacson lang ito...

i think you missed one point....


from : www.inquirer.net

Businessman confirms Lacson expose

By Daxim Lucas
Philippine Daily Inquirer
First Posted 11:25:00 09/15/2009

MANILA, Philippines -- Filipino-Chinese tycoon Alfonso Yuchengco confirmed early on Tuesday that he was threatened and intimidated to sell his stake in the country's largest telecommunications firm to businessman Manuel Pangilinan 11 years ago.

In an e-mailed statement, the chairman of the Yuchengco group of companies confirmed the details of the exposé by Senator Panfilo Lacson on the strong arm tactics used by Joseph Estrada in his dealings when he was still president.

"I confirm the statements made by Senator Panfilo Lacson in his privilege speech relating to my 7.75% PTIC holdings, equivalent to 2,017,650 PLDT common shares," the short statement read.

"These shares were taken from me in 1998 through sheer intimidation and serious threat to my businesses, myself and my family," it added.

Lacson said that PLDT was taken over by the group of Pangilinan -- backed by Hong Kong-based First Pacific Co. Ltd. of Indonesia's Salim family -- with the help of Estrada's coercive efforts against Yuchengco, who then controlled a small but important block of the company's shares.

PLDT, through it's legal counsel, denied these allegations.

[shadow]

i think you missed one point....


from : www.inquirer.net

did you read my earlier post?

lahat nun sinabi niya against ERAP walang kwenta yun ang importante sa sinabi niya yun tungkol sa shares ng PLDT sa pinilit daw ni Erap ibenta ng mga yuchengco kay Pangilinan yun shares nila.

maganda antayin yun reaction ni MVP

[Monseratto]

Junggoy speech is a dud. All praise to dear daddy. Only thing he can fault Ping with are "walang utang na loob" and a political user...

[ooba99]

Ho-humm. Inantok ako sa privilege speech ni jinggoy kanina.

[Lucius]

Sayang di umiyak si Jinggoy, ang ganda pa naman ng form ng mukha nya pag umiiyak

Sana matuluyan na tong si Erap at hindi na special treatment. Kahit magka-aircon pa sya sa kulungan basta hindi na bahay.

[explorer]

from: www.inquirer.net

[SIZE="3"]Estrada bullied me, says Yuchengco[/SIZE]
Tycoon confirms coercion in PLDT deal

Philippine Daily Inquirer
First Posted 01:34:00 09/16/2009

MANILA, Philippines—Chinese-Filipino tycoon Alfonso Yuchengco Tuesday confirmed that he was threatened and intimidated into selling his stake in Philippine Long Distance Telephone Co. (PLDT), the country’s largest telecommunications firm, to the group of businessman Manuel Pangilinan 11 years ago.

His statement lent credence to the exposé made by Sen. Panfilo Lacson the other day about the alleged illegal activities committed by Joseph Estrada during his presidency.

Calling Lacson a “liar,” Estrada said on Monday that the allegations against him were not true.

An Inquirer source with knowledge of the deal and of the harassment of the Yuchengco family Tuesday said that the sale of the Yuchengco shares
was “cooked up” by businessman Mark Jimenez and that Estrada was “supposed to get P2 billion” from it.

Estrada called Jimenez a “corporate genius” for packaging the $750-million takeover of PLDT by the Hong Kong-based First Pacific Co., described as the “deal of the century.” Jimenez has denied reports that he received $50 million in commission.

The source said that when Yuchengco initially refused to sell, agents of a presidential task force appeared at the headquarters of Rizal Commercial Banking Corp. (RCBC), a universal bank owned and controlled by the Yuchengcos, to try and arrest one of Yuchengco’s sons, who was working at the bank.

Armalites, ambassador

At about the same time, men armed with Armalites and accompanied by “a Filipino ambassador,” also went to see the elder Yuchengco, who served as ambassador to China and Japan, in his office “as an added incentive,” said the source, who asked not to be named for his safety.

The source said Yuchengco finally agreed to the deal and the men who had threatened to arrest his son “disappeared (and) never came back.”

In a statement disseminated via e-mail, Yuchengco, chair of the Yuchengco group of companies, attested to the accuracy of Lacson’s statements on the circumstances surrounding the controversial takeover of PLDT in 1998 by First Pacific.

“I confirm the statements made by Sen. Panfilo Lacson in his privilege speech relating to my 7.75 percent PTIC holdings, equivalent to 2,017,650 PLDT common shares,” the statement read.

Sheer intimidation

“These shares were taken from me in 1998 through sheer intimidation and serious threat to my businesses, myself and my family,” it added. PTIC at the time held the biggest single block at 21 percent of the telephone giant.

Confusion initially attended the dissemination of the statement as it was released by lawyers of a firm who said they represented Yuchengco in this particular issue.

No direct confirmation could be obtained from the tycoon himself to validate the statement attributed to him, but a ranking official of the Yuchengco group who requested anonymity confirmed that the statement had indeed been authorized and issued by the group’s chair.

In a privilege speech, Lacson said on Monday that PLDT was taken over by the group of Pangilinan—who managed First Pacific of Indonesia’s Salim family—with the help of Estrada’s shakedown of Yuchengco, who then controlled a small but important block of PLDT shares.

Trumped-up drug charges

Lacson said Estrada had used the Philippine National Police without his knowledge to harass Yuchengco’s son Tito “with threat of arrest on some trumped-up drug charges to force his father, Mr. Yuchengco, to sell.”

“In August 2008, in the early part of Mr. Estrada’s abbreviated presidency, Mr. Alfonso Yuchengco was pressured to sign the conveyance of his 7.75 percent PTIC (Philippine Telecommunications Investment Corp.) holdings, equivalent to 18,720 shares to Metro Pacific, represented by Manuel Pangilinan,” Lacson said.

He said these PTIC holdings corresponded to 2,017,650 PLDT common shares.

Before the deal with Yuchengco, First Pacific had finalized the sales agreement for 47 percent of PTIC—44 percent from the Cojuangco family and 3 percent from Antonio Meer.

First Pacific could not touch the balance of 46 percent of PTIC because it was owned by Prime Holdings Inc., a shell company owned by the Marcoses, which was being recovered by the government. PTIC owns 26 percent of PLDT’s outstanding common shares.

In his privilege speech, Lacson said he learned later that Yuchengco was “pressed to sign a waiver of his right of first refusal over the PTIC shares of the Cojuangco-Meer group.”

Match First Pacific offer

Yuchengco earlier reportedly offered to match or top the First Pacific offer to buy the 9.6-percent stake of Antonio “Tonyboy” Cojuangco, then PLDT president.

Had Yuchengco not sold his stake and exercised his right of first refusal, First Pacific could not have controlled PLDT.

First Pacific announced in November 1998 that it had taken over the management of PLDT after acquiring a 17.2-percent stake in the telephone giant for P29.7 billion. Three months later, Pangilinan said he had just invested $750 million in PLDT for that stake.

Aboveboard

Pangilinan’s lawyer, Ray Espinosa, said after Lacson’s privilege speech that the First Pacific Group’s takeover of PLDT was “aboveboard.”

First Pacific, through its Philippine holding firm Metro Pacific Investments Corp., has since expanded to power and water utilities (Meralco and Maynilad), tollways (North Luzon Expressway and Skyway), port services (Manila North Harbor) and health care (Medical Doctors Inc. [owner and operator of Makati Medical Center], Davao Doctors Hospital, and Colinas Verdes Hospital Management Corp. [operator of Cardinal Santos Medical Center]).

Elated

Lacson was elated that Yuchengco confirmed his allegation against Estrada that he had bullied the latter to sell his PLDT stake to an Estrada crony.

Lacson said Yuchengco’s statement only showed that he was telling the truth and Estrada was lying.

“So who is lying now if Al Yuchengco said he was intimidated so that he would be forced to sell his stake?” Lacson told reporters a few minutes before Estrada’s son, Senate President Pro Tempore Jinggoy Estrada, delivered a privilege speech against the senator.

Abroad

Asked whether he informed Yuchengco beforehand about his privilege speech on the businessman’s experience, Lacson said he had no direct contact with the latter.

“I know he’s not here. He’s abroad,” Lacson said of Yuchengco.

Lacson, a Philippine National Police chief during the Estrada administration, urged the former President to “surrender” and to tell the truth.

P20-M check from Pangilinan

A P20-million check that Pangilinan supposedly paid as bribe to Estrada was one of the checks deposited in the Jose Velarde bank account.

After the Edsa II people power revolt in 2001 that toppled Estrada, one of the cases filed with the Sandiganbayan anti-graft court against him included Pangilinan as a co-accused.

The check that Pangilinan allegedly issued to Estrada was one of 67 checks that were deposited in Estrada’s Jose Velarde account.

Pangilinan reportedly acknowledged issuing the check to Estrada in November 1998 as financial support to Estrada’s new political party for the 2001 general elections.

The Sandiganbayan found Estrada guilty of plunder and sentenced him to life in September 2007. President Gloria Macapagal-Arroyo pardoned him the following month.

[Monseratto]

Can the Yuchengcos regain control of PLDT since they sold their shares under duress? From what I saw last night in Bandila, Erap seem to point the finger at Mark Jimenez.

[innoBOB[09JmtG]]

bwaha.. asa pang makulong sa tunay na bilangguan si erap! dapat magsama sila! hehe...

justice to dacer and corbito! just for once!

[shadow]

Yuchengco? the owner of the pacific plans that swindled the money of their plan holders....next please.

kettle....

pot.....

black....

[CVT]

Whew!.... Corroboration!?....

8601:matrix:

[Monseratto]

lahat nun sinabi niya against ERAP walang kwenta yun ang importante sa sinabi niya yun tungkol sa shares ng PLDT sa pinilit daw ni Erap ibenta ng mga yuchengco kay Pangilinan yun shares nila.

maganda antayin yun reaction ni MVP

Yuchengco? the owner of the pacific plans that swindled the money of their plan holders....next please.

kettle....

pot.....

black....

Isn't that the same line what Junggoy used yesterday?