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Saturday, May 14, 2011

The PCSO Scandal: Nepotism and the Illicit Transfer of Funds by Juico, say Manoling Morato

Taking his case before millions of
online Pinoys
The Philippine Charity Sweepstakes Office (PCSO) says its former chairman Manoling Morato, generates 30 billion pesos from its lotto and sweepstakes draws. That's why, this year, the PCSO was able to pay taxes amounting to 2.9 billion pesos. 


In 1998, the Morato-led PCSO board deposited US$ 5 million in the Landbank, a government bank. In June 2010, that amount earned interests totalling almost US$ 6 million. 


That amount, says Morato, was the excess amount from the numerous ambulances purchased during the time of former president Fidel Valdez Ramos. 


Now, the question is--where is the amount right now?


According to a resolution signed by the PCSO board, that amount has been transfered to UCPB, a private bank. UCPB, based on Morato's sources, is an ailing bank. 


Pointing something out with Leslie Bocobo
This is illegal, says Morato, because under the law, the PCSO is mandated to deposit funds only in government banks. UCPB is not a government bank.


Reason for the transfer? According to the PCSO resolution, the UCPB gave the PCSO a higher interest rate. Reasonable, yes, legal, no.


So, if the PCSO has so much money, why is it that Juico is not paying the hospitals their due? Why is it that poor folks are not being given assistance?


Maybe Juico and the PCSO board are busy trying to find buyers for the numerous properties of the agency.


Aside from the Quezon Institute, the PCSO board led by Juico, is trying to sell the British Club building for just 61,000 pesos per square meter. That is way below the commercial value of the said property. Who is trying to buy it? 


And why is that Juico has insulated herself from all these? Simple.


Margie Juico, according to Morato, controls the PCSO.


Her brother, Emmet Penson, supplies wheelchairs to the PCSO. Philip "Popoy" Juico is now in charge of the PCSO PR fund, while their son, Vincent Juico, is Margie's chief of staff. Her Quezon CIty councilor son, Joseph, holds office in the Executive secretary's office on a one peso salary, austensibly to cover the tracks of the Juicos, Morato accuses.


This is clearly, a case of nepotism, since Vincent Juico earns a salary from PCSO.


Is PCSO now the fiefdom of the Juicos who reportedly contributed 5 million pesos to President Benigno S. Aquino's campaign funds? Is this the price the Filipino people has to pay?



5 comments:

  1. this is totally nepotism, putting family member in all position holding under the same office.

    ReplyDelete
  2. shame on JUICO FAMILY.. THAT IS SO EMBARASSING TO THE WORLD.. CLEANING UP YOUR OWN MESS IS NOT THE ONLY RESOLUTION BUT TO MAKE IT
    WORST MESSED EVER BUT NOT ONLY TO YOUR LIFE BUT TO THE WHOLE WIDEWORLD.

    ReplyDelete
  3. unbelievable! the current lady chairman should be replaced ASAP and incompetent as well thinking she just started on the job-line.
    GOD has a way of exposing things to better off our beloved country, Philippine Island.

    ReplyDelete
  4. unbelievable! the current lady chairman should be replaced ASAP and incompetent as well thinking she just started on the job-line.
    GOD has a way of exposing things to better off our beloved country, Philippine Island.

    ReplyDelete
  5. what else is new? No wonder she's so overweight, eating at plush restaurants??? But seriously, who's to investigate the transfer of the amount from a government bank to a private bank? Who's to trace the withdrawals from the bank?

    ReplyDelete

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