http://www.stuartsantiago.com/exposing-manny-villar/

Madrigal bares Villar loans taken in 1998

SEN. Ma. Ana Consuelo Jamby Madrigal yesterday dropped another bombshell against Sen. Manuel Villar, saying he got P3.5 billion in loans in 1998 to keep his defunct Capitol Bank afloat with only P42 million worth of properties as collateral.

Madrigal made the accusations at the resumption of the Senate Committee of the Whole hearing on the ethics complaint against Villar over the C-5 road project.

But Senate President Juan Ponce Enrile, the presiding chair, said Madrigals allegations would not be included in the ethical misconduct complaint against Villar as he was not yet a senator at that time.

Madrigal, in a Power Point presentation, traced the history of three lots which Villars company sold to the government to give way to the C-5 road extension project.

She said the three lots were previously owned by Enrique Factor, Maria Rodriguez, and Iluminada Rodriguez and were bought by Villars companies in 1998 for a total of P42 million.

Ten days after the sale, Madrigal said Villars companies used the properties as collateral for a P281 million loan from Capitol Bank. At that time, the Villars owned about 19 percent and Villars wife Rep. Cynthia Villar was a board director.

After 10 days lang na binili ito, sa loob ng ilang araw, naisanla na ito. Ang Villar(-owned) Capitol Development Bank ang nagpautang sa mga Villar mismo, Madrigal said adding that this was the cause of the banks collapse.

The Bangko Sentral ng Pilipinas then bailed out Capitol Bank, with the three properties as collateral, to the tune of P3.5 billion. Capitol Bank has been renamed Optimum Development Bank.

Nalen Galang, Villars legal counsel, said Capitol Bank transactions with the BSP are all legal, above-board and in full compliance with all applicable banking laws.

He said Capitol has no outstanding obligation to the BSP and that of the three properties, only two the Factor and the Maria Rodriguez properties are related to the BSP.

Villars spokesman Gilbert Remulla said Madrigal has gone overboard.

This happened in 1998. Nangyari ito na wala pa sa pwesto ang mag-asawa (spouses Villar). Ikalawa ang lahat ng isyu dito ay nasampahan na ng kaso ang mga Villar at lahat ng mga ito ay na-dismiss noong 1995, he said.

Enrile said the Committee of the Whole will just determine whether the statements of Madrigal are true. Thats why we want to ask the Central Bank people if indeed the documents submitted by the good senator are corroborated by their records.

Villar said: Hindi ko maintindihan kung ano ito. Kanina sa hearing puro kasinungalingan na naman ang narinig natin, puro imbento. Saan ka naman nakakita ng isang senadora na siya na rin ang complainant, siya na rin ang judge, siya na rin yung fiscal, siya na rin yung constitutional expert.

Sen. Miriam Defensor Santiago said Madrigals statements would be under suspicion as she had declared her presidential aspiration in the 2010 elections.

Her statements as a complainant may no longer be as effective as it otherwise would have been if she was completely uninvolved in the process. Im afraid the public would be looking at her testimony with subjective prisms or glasses, Santiago said.

http://newsinfo.inquirer.net/breakingnews/nation/view/20090813-220131/Villars-wealth-attracts-senatorial-bets
VILLAR’S WEALTH ATTRACTS SENATORIAL BETS
By Maila Ager
INQUIRER.net
First Posted 18:37:00 08/13/2009

MANILA, Philippines—Senator Manny Villars vast resources have attracted a handful of senatorial aspirants who want to be included in his partys ticket, Senator Aquilino Pimentel Jr. said on Thursday.

My understanding is that there are so many senatorial applicants pumupunta doon sa kampo ni (are going to the camp of) Manny Villar. I do not know the exact names. Madami na raw, masyado na, over na daw sa 12 (There are reportedly over 12), Pimentel said.

If you say 17 or mga ganun, meron na (about that number), he said. Pimentel and Villar both belong with the new minority bloc in the Senate. Pimentel said some of those who want to be part of Villars ticket belong to the administration group. Manny Villar is attracting also those coming from the administration and I even suspect that Recto might be one of those winding up under the senatorial slate of Many Villar because in the first place, kasama sila dati doon sa tinatawag na (they are together in the so-called) Wednesdays group, he said, referring to Ralph Recto, who just resigned as socio-economic planning secretary and director of the National Economic Development Authority.
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