Documents in the missing P380M – 6

By: Modesto P. Sa-onoy

BEFORE I proceed, let me just note the two events last week related to the continuing Yanson family feud. One was the dismissal of the injunction case filed by the Yanson 4, and second, the criminal case filed by two people against the children of the Yanson 4.

These events are hardly fatal. The dismissal is not a decision on the majority ownership of the Vallacar Transit Inc, as being portrayed by the camp of the Yanson 3. The other is a cowardly diversionary, squid tactics filed on orders of people who are afraid to do the dirty work.

I will tackle them tomorrow after tracking down the whereabouts of the P380 missing fund and pinning responsibility for it as the documents on hand tell us. We should not be distracted from the P380M issue which is, after all, a major cause in this feud. As most people conclude, it is all about money and the refusal to account for them. Money seems to be thicker than blood.

In the search for the whereabouts of this money, I am reminded of what the poet Henry Wadsworth Longfellow wrote in his Psalm of Life, “Things are not what they seem.” Longfellow was only quoting Plato who spoke through his interlocutor, Phaedrus that, “Things are not always what they seem; the first appearance deceives many; the intelligence of a few perceives what has been carefully hidden.”

Excuse me for citing this incredible perception on human life but the documents appear to be giving us the answer to where the P380 million went because the identified expenses come close to this amount. Can we then end our search for the P380 million? Not quite yet; the amounts are deceiving and not telling the whole story. The diversionary tactics espoused the protagonists in this feud complicated matters because no one came out with a plausible explanation but pointing to each other to explain.

I sum, our discussion showed that millions of pesos were requested from Bacolod, the money was sent to the Manila Purchasing Office, but the large sums disappeared and MPO did not submit the corresponding supporting papers. In control of the funds were Rey Repollo, the head of the MPO and Rowena Sarona, the cashier. Both are signatories to the checks worth millions of pesos issued by MPO. Leo Rey Yanson, as president, has direct control and supervision of MPO.

Leo Rey washes his hands of the missing funds; in effect, he tells the world he is not responsible.

I was watching a film where a former US President told the new President: The presidency is not just an office; it is also a responsibility. Thus, Leo Rey cannot wash his hands. Under the principle of command responsibility, the Yanson 4 had every right and duty to boot him out of office.

I am puzzled why Leo Rey refuses to explain when facts had been uncovered, but by adamantly rejecting the call to explain he gives the impression he is directly involved. Let us get back to the documents.

A check for P134,498.20 was issued to Gold and Silver Ktsg Marketing Company, a service company that deals in precious metals. Documents show that this company received over P826,000. Why was the payment for this service not reported to Bacolod? Is VTI engaged in buying or selling precious metals or is somebody stashing money in gold or silver?

There were many individuals and companies that received millions worth of transactions from VTI. Let’s cite a few, aside from those that Rowena Sarona was charged.

Checks for millions went to bogus accounts: foreigners in the US, Slovakia and even Ghana, a scammer and two kids aged 7 and 3. One document showed transactions of Leo Rey of P4.723M; Olivia Yanson, P5.483M and RJR, P.5M. Two transactions of OVY and RJR were tampered. OVY had a series of cash advances of P400,000 each.

The documents reveal what went wrong, why and who are responsible. A glimpse is enough to show where P380M plus went.

Let’s continue tomorrow.