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Madrigal: There’s proof Nograles brod got P14M in ‘swine scam’ » Corruption » Government » Politics » ThePinoy

Madrigal: There’s proof Nograles brod got P14M in ‘swine scam’

Sen. Ana Consuelo “Jamby” Madrigal on Friday said that there is proof that the brother of Speaker Prospero Nograles got P14 million in “attorney’s fees” from Quedancor’s multi-billion swine loan program which is a subject of a Senate Blue-Ribbon Committee probe.

“Ipapatunay po namin na sumulat si Mr. [Quedancor president and chief executive on-leave Nelson] Buenaflor kay Attorney Nograles, na parang kinekwestyon niya na mukhang may kalakihan nga itong P14 million attorney’s fees,” said Madrigal in an interview over ABS-CBN’s Umagang Kay Ganda.

A total of P114.6 million in loan proceeds allegedly went to various individuals and groups, including Jose Nograles, brother of the House Speaker, in the form of miscellaneous fees in what is now known as the “swine scam.”

This was revealed at Thursday’s hearing of the Senate Blue-Ribbon Committee on the swine loan program, which critics suspect was diverted to the administration’s 2004 campaign kitty.

On questioning by senators Thursday, Quedancor senior-vice president Neils Patrick Riconalla revealed that an “arranger’s fee” of P100 million went to a certain “ONL consulting” which supposedly arranged for the lender to get a P5-billion loan from the Land Bank of the Philippines to fund the program.

The fee was charged to Quedancor and was automatically deducted from the proceeds.

“ONL ang arranger ng 5 billion peso syndicated loan. I don’t know exactly what it means but the arranger is ONL consulting something,” said Riconalla, who said he was not part of the swine loan project.


Find more like this: Corruption, Government, Politics

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