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VP Binay accused of over-abusing BSP funds

mercado-binay

The accusations keep on piling up for Vice President Jejomar Binay.

Former Makati City Vice Mayor Ernesto Mercado revealed during the Senate Blue Ribbon-Subcommittee hearing today that Vice President Binay used almost 200 Million peso kickback from the land deal of the Boy Scouts of the Philippines, wherein he’s the President since 1994, and Alphaland Corporation, owned by former Trade Minister Roberto Ongpin.

Mercado was referring to the joint development of the one hectare prime property on the corner of Malugay Street and Ayala Avenue extension in Makati City.

The former Vice Mayor clarified that what Binay received was just an initial and there will be more.

Aside from this, Binay allegedly sold the properties of the BSP in Manila, Pasig and Davao.

According to Mercado, what’s worse is that even with Binay’s abuse with the BSP’s properties, the Boy Scouts of the Philippines didn’t receive any dime from all the said transactions.

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