Ongpin says 1000% sure Arroyo not behind DBP loans

Rappler.com
Claims on the role of former First Gentleman Miguel Arroyo in the controversial loans of a state-owned bank to firms led by businessman Roberto V. Ongpin have come down to percentages

MANILA, Philippines – Claims on the role of former First Gentleman Miguel Arroyo in the controversial loans of a state-owned bank to firms led by businessman Roberto V. Ongpin have come down to percentages.

In a media statement of Ongpin on Thursday, June 14, he said he is “1000% sure…that former FG Mike Arroyo had nothing to do with these loans.”

Ongpin was responding to the previous claim of Sen. Sergio Osmeña that he is “110% sure” that Arroyo had a hand in the P660 million loans granted by Development Bank of the Philippines (DBP) in 2009.

“I am in London on my way back to Manila,” Ongpin wrote in the statement, which he dictated “by overseas phone to my secretary.”

Ongpin reiterated that DBP did not incur losses from the transactions, which involved loans that funded Ongpin group’s purchase of DBP’s shares in Philex Mining at a low price and sale of the same shares to the group of Manuel V. Pangilinan at almost double the price.

“I did not need FG to help me get these loans from DBP…DBP saw a good opportunity to make major profits and simply took that opportunity.  It was a judgment call on DBP’s part which proved to be totally correct and in the process, earned for the bank a record profit of over Php1.3 billion,” Ongpin explained.

Ongpin also scoffed at the supposed witnesses that Osmeña will present in the succeeding hearings. “No wonder Osmeña’s “witnesses” are afraid to go public.  They would be committing perjury if they did.”

“I have never ceased to wonder why the good Senator whom I hardly know insists on picking on me…why me and not the others who are more “deserving?” he added.– Rappler.com

 

More in #ArroyoWatch: