Villar firm faked titles through ‘layering’: ex-lawyer (parts 2-3 of Newsbreak story)
Posted by akosistella on April 14, 2010
PART 2 of 3 parts
MANILA, Philippines – A case involving parcels of land, where a property developed by one of the real estate companies of presidential aspirant Manuel Villar Jr. now stands, is an example of how layering and faked documents were employed to acquire properties.
The land case, which involves contested properties in Cavite, was cited by http://www.abs-cbnnews.com/-depth/04/12/10/man-who-turned-his-back-villar”>dismissed lawyer Restituto Mendoza
in a complaint he filed before the National Labor Relations Commission NLRC. He used to be the in-house counsel of Adelfa Properties, one of the real estate properties in the Villar Group.
Villar has a 20% stake in Adelfa Properties, based on records obtained from the Securities and Exchange Commission in January. His wife, Las Pinas Rep. Cynthia, has another 19% stake. Previuosly, they had 52% and 48%, respectively.
LAST OF 3 PARTS
Villar firm’s high-end project sits on land for poor
MANILA, Philippines – Presidential aspirant Manuel Villar may have built his P25-billion wealth on providing low-cost homes, but the practices of acquiring properties where real estate projects now stand showed a pattern of deceipt and corruption.
How land was acquired in Norzagaray in Bulacan, Imus Estate in Cavite, and for the Portofino project in Alabang are case studies of this pattern.
Portofino, a flagship project of Britanny Corp., the Villar Group’s unit aimed at the luxury residential communities and upscale leisure developments, now sits on land meant for the poor.
Portofino was cited in a complaint by Restituto Mendoza, a former lawyer of the Villar Group, as one distinctive example of the corrupt practices of the group.
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