Rizal Philippines | November 6, 2014
Is it Sun Champ? Is it Agri Fortuna? Is it Gregorio Laureano.
While businessman Antonio Tiu is complaining how the Senate Blue Ribbon sub committee has dragged his name, that of his family, and that of his business (watch how ANI shares have plummeted) into this fracas, he could not comply with his promise to show that his company indeed owns the 150 hectare property.
He was not able to show today the: Tax Dec, the due diligence conducted, feasibility study, the Board Resolutions authorizing Tiu to buy the property. Indeed, a finance bred executive, CEO would not invest without a due diligence and he could not show any. All that he was able to show was a one page paper a MoA that shows Tiu advancing PHp11 million (out of the P446 million total) to Gregorio for the right to use the Gregorio property for the agri tourism project that was not even notarized.
ANI and SunChamp shares are taking a beating at PSE
That ownership of the property must be exclusive has not been exhibited. Somebody with Metrobank account in JP Rizal Makati has been paying the electricity bill; Agri Fortuna is still paying the RET.
From whom did he really buy the property: Agri Fortuna or Laureano Gregorio? Where is he?
Binay couple allegedly sold their JCB farm for Php10 million to AgriFortunata which the Binay couple sold to Gregorio
There are issues coming out:
1. That one can not consolidate properties beyond 5 hectare with out conversion order from DAR:
2. The DAR beneficiaries could not sell their CLOA within a 10 year holding period otherwise it is illegal
3. Gregorio is not listed in DAR ever applying for DAR conversion
One could not help but wonder about the number of illegal acts being discovered: violation of DAR laws, lies, incomplete documents. etc.
With the weight of evidence of facts being thrown to Tiu, one could not wonder as to when he will admit and reveal who really own the property being questioned. Even the Instagram pictures reveal who really owns the property; the pictures of the undisturbed bottles of wine in the estate would negate claims of Tiu that Sun Champ owns the farm/estate.
