Is VTI bankrupt or being bankrupted? – 6

By Modesto P. Sa-onoy

 

The news from different sources indicate at least two things: VTI is in dire need of money that it is squeezing lemon out of the least of its employees, and VTI is not telling the truth. Under these conditions the reasonable conclusion is that there are manipulations in the top echelons of VTI for an apparent personal gain.

It is indeed puzzling, and therefore unbelievable. Why would VTI be in financial straightjacket when it is popularly known as reaping millions daily and owns billions worth of properties? Are not its owners considered billionaires or at least millionaires? A multibillion enterprise does fold up in a matter of months unless funds are being surreptitiously diverted to secret accounts. And worse, the officials are so corrupt and unaccountable that money are siphoned to personal safe havens.

As I had written since middle of 2019, the heirs of Ricardo Yanson are well entrenched financially. Remember the monthly withdrawals of Leo Rey and his mother Olivia as shown in the audit report of SGV? That so much money flows from the coffers of the company means that it is incredible that in so short a time, the company is in financial crisis.

What could have happened? The one-year long pandemic cannot be the sole cause of this sudden “poverty” of the company. Something must be awfully wrong somewhere.

Indeed, why would an employee tell the world in a post through an elder friend, “ga lalâ na gid subong, Nang.” (It is already deteriorating!) To which the Manang replied, “Amo man gani basi pagsulod sg apat basi bldg na lang ang mabilin.” (That is right and when the four come back maybe only the building will be left.) The “four” referred to are the four children of Ricardo who had been cleverly manoeuvred out of control of the company.

Then the younger answered, “Sakto na Nang, kay kung ano ang ma kwartahan kuhaon nila kay maghalin sila wala na sila.” (You are right, Nang whatever they could make money on they would take because when they leave they would not be around.)

It is not clear whether the next post is from one of the two quoted above or from elsewhere. It said, “Dri bulua shop hawan na. hurot palapaw.” (Here the Bulua shop is cleaned out. All had been illegal taken out.) I checked and discovered that Bulua is in Cagayan de Oro.

The information indicates that there is a nationwide operation to bankrupt the company and strip it of valuable properties so that when the four Yanson children recover the company they have nothing left but the carcass of the buildings and empty coffers.

These are employees talking, not the four Yanson children or propaganda mouthpieces, in short, these are unbiased observers. Moreover, that these employees could exchange this information openly means they are credible because they have personal knowledge and are in the middle of what is happening in VTI. Nobody can manufacture an information of this kind. It can easily be checked.

Note that the employees believe that the four Yanson children will be coming back because they know that legally and morally the Y-4 are the true majority shareholders of the company. It does not take a great amount of brain power to compute which is in the majority – 63% or 37%, just to round it off.

If the statements of the employees are to be believed – there is no reason to doubt – then they know eventually the Y-4 will retake the control of the company from Y2 and their mother who owns no share. Sadly, they might regain a bankrupted company.

Yesterday I quoted from The Sleeping Truth in FB. Let me repeat the opening line which says, “It all boils down to the Y2 wanting to ‘dramatize’ the idea and on a show that the company is not in a good shape.”

Is this posturing that VTI is dire need of money merely a pretence, the dance of the zarzuela, an Indonesian shadow play? It seems so, if indeed the poor financial state of VTI is manipulated for a grand plan. All this then is simply laying the foundation of a more pernicious objective.

Continued on Monday.