Kris Aquino seeks ‘justice’ for apparent financial ‘betrayal’

Rappler.com
Kris Aquino seeks ‘justice’ for apparent financial ‘betrayal’

Rob Reyes

The media mogul does not drop names, but says she was betrayed by someone she had 'complete trust and faith in'

MANILA, Philippines – Kris Aquino is in the middle of a financial battle as she seeks “justice” for what appears to be a money-related betrayal committed by someone she had “complete trust and faith in.”

Kris first opened up, albeit vaguely, about the supposed betrayal in an edited Instagram post from September 22.

In the original post, Kris categorically denied running for a Senate post in the 2019 elections. On September 23, the post was edited as the media mogul and top endorser added that she was betrayed by someone who earned millions from running her production company KCAP and negotiating her endorsements.

“In the 6 weeks that I quietly suffered because of financial abuse and betrayal we uncovered being done to me by someone i had complete trust & faith in, not to mention the millions he earned from running KCAP and negotiating my endorsements – the stress, inability to eat and sleep properly caused my weight to drop to under 54 kilos,” she wrote.

“I apologize to all my endorsements and KCAP brand partners for paying the price of an unhealthy Kris Aquino struggling to again find her inner WARRIOR.”

She also said that she has consulted with top lawyer and Kris’ longtime legal counsel Sig Fortun, as well as former solicitor general Florin Hilbay, as she looks at taking legal action.

Kris continued to speak about the issue in a September 25 blog post on her Facebook page. While she did not go so far as to name the party who supposedly took advantage of her, Kris said that the person was a business partner in her food ventures and the Thai beauty brand that she recently launched.

“I have told you the recently discovered truth regarding the financial abuse, careless disregard for my existing endorsement contracts, and the total lack of respect for me as a business partner (not KCAP which is a sole proprietorship company – but our movie snacking outlets – 14 branches of Nacho Bimby + Potato Corner; and the just launched Thai beauty brand Snail White),” she wrote.

She also mentioned that KCAP’s finances and tax compliance were affected: “Concerned relatives and friends have told me that it is good that I learned to what extent I have been taken advantage of early enough – after 16 months before more damage could have been done to KCAP’s finances and tax compliance, and the trusted reputation i have worked so hard to establish in the Philippine and Asia-Pacific business communities,” she wrote.

In another Instagram post on September 25, Kris said that she was especially affected by the betrayal because the trust funds of her two sons Josh and Bimb were affected.

“My PAIN comes from my fear that tens of tax paid millions from my sons’ trust funds, money I conscientiously saved for them because I made a deathbed promise to my MOM that Kuya Josh and Bimb will always come first,” she wrote.

Baka mawala lahat ng pinagpaguran ko para sa kanila (I might lose everything I worked hard for for them),” Kris added. “It is WRONG that the 2 BOYS I LOVE MOST, MY LIFE’S MEANING & INSPIRATION may suffer consequences because I was targeted and  deceived by a person with no conscience.”

Kris said that the issue is now being dealt with by lawyers she respects, and auditors and accounting firms she trusts. She also mentioned that the person’s “deeply shamed mother and sister” gave their word that her investments will be returned to her.

Kris, a sought-after endorser, has always taken pride in being among the country’s top invididual taxpayers. – Rappler.com

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