Former executives of the soon-to-be-abolished National Agri-Business Corporation (Nabcor) transacted with favored non-governmental organizations that helped divert P105 million (US$5 million) in public funds. The amount was part of the P300 million taken from the Agriculture department’s special fund, the Ginintuang Masaganang Ani Fund, intended for rice and corn, livestock, and seeds projects. In their affidavits submitted to the justice department, Elvira Castelo, then Nabcor vice president for management and institutional services, and Rhodora Mendoza, former vice president for administration and finance, detailed how then Nabcor president Alan Javellana misused government funds. He remains at large.
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