Mercado files another plunder complaint vs. VP Binay

Published Oct 6, 2015, 2:37:38 PM

Updated Oct 7, 2015, 1:56:00 AM

Metro Manila (CNN Philippines) — On Tuesday (October 6), former Makati Vice Mayor Ernesto Mercado filed another plunder complaint against Vice President Jejomar Binay.

This time, the vice president was accused of approving an anomalous deal between the Boy Scouts of the Philippines (BSP) and Alphaland Corp. for the development of a prime property in Makati City.

Binay, a long time president of the BSP, supposedly approved the undervalued sale of the one-hectare lot to Alphaland in exchange for kickbacks.

The property was supposedly sold to Alphaland in 2011 at only P600 million — the same appraised value of the land back in 2005. Mercado, who used to be a senior vice president of the BSP, said the property value had gone up to P3 billion at the time.

On top of the undervalued sale of the property, Mercado said, the BSP was yet to receive payment up to now.

He added that the BSP only asked Alphaland to pay rent for the use of space in the property a day after the Senate held a hearing on the deal back in January.

Sixteen other individuals, mostly members of the BSP's national executive board were included as respondents in the complaint.

The latest accusation was the fifth in a series of plunder complaints against Binay.

CNN Philippines' AC Nicholls contributed to this report.

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