Have you heard about this?

Pag-Ibig sets raps vs Globe Asiatique

By Jerry E. Esplanada
Philippine Daily Inquirer
First Posted 16:46:00 09/04/2010

Filed Under: News, business, Real Estate, Judiciary (system of justice), Crime, Housing (New Products)

MANILA, Philippines—The state-run Home Development Mutual Fund (Pag-Ibig Fund) is to file charges against Globe Asiatique Realty Holdings Corp. for the land developer's alleged fraudulent use of the agency's housing loans.

This was disclosed to the Inquirer on Saturday by Joey Salgado, spokesman and media officer of Vice President Jejomar C. Binay, chair of the Housing and Urban Development Coordinating Council, or HUDCC, which groups seven housing-related agencies, including the Pag-Ibig Fund.

According to Salgado, Binay "ordered a probe during his first week as HUDCC chair (sometime in mid-July)."

"The probe has been completed. Charges will be filed against Globe Asiatique," he said.

At the same time, he noted Binay "received information similar to what was reported by the Inquirer" on the loan mess involving Globe Asiatique.

Salgado, however, did not provide details about the charges Pag-Ibig Fund will file against the controversial real estate firm.

"Details will be released at the proper time," he said.

In a two-part series published early this week, Inquirer Central Luzon correspondent Tonette Orejas reported that Globe Asiatique had taken out nearly P7 billion in housing loans on behalf of nearly 9,000 borrowers in Xevera Bacolor and Xevera Mabalacat, two of the firm's housing projects in Pampanga.

But hundreds of the loan accounts allegedly turned out to be spurious with an undisclosed number of borrowers not even aware they had applied for and been granted Pag-Ibig loans.

In the Xevera projects, Pag-Ibig Fund documents showed that Globe Asiatique paid a number of people and made them sign members' forms and notarized affidavits of income.

The company also recruited people ineligible to become Pag-Ibig members and took out the loan proceeds although housing units were not completed and had material deficiencies.

Delfin Lee, president of Globe Asiatique, has denied the allegations.

Lee said his firm "has no ghost housing projects (and) does not owe Pag-Ibig Fund a single centavo, and is the one which stands to lose money and not the government if the allegation that there are phony borrowers is true."

In a fact sheet furnished the the Inquirer, Lee claimed his company "has an unblemished record with Pag-Ibig Fund."

On the alleged ghost Pag-Ibig borrowers, he said, "it is not Globe Asiatique which approve(d) them, but merely processe(d) loan applications which (were) then forwarded to the proper government agency."

"The reported dubious accounts have been settled long before the adverse publicity, but (are) being sensationalized by media to destroy the company's IPO and to wreck its cash flow," Lee said.

He also claimed "it was Globe Asiatique, not Pag-Ibig, which discovered and reported the dubious accounts, not the other way around."

Early this week, Emma Linda Faria, a Pag-Ibig Fund official, told a radio dzMM interview the agency had been a "victim of fraud."

'We discovered 400 accounts involving Globe Asiatique borrowers who do not have the capacity to pay their loans," said Faria.

According to Faria, Pag-Ibig Fund discovered the irregularities "before the May elections."

At the House of Representatives, at least three resolutions have been filed, seeking an inquiry into the housing loan mess.

The resolutions were filed sponsored by Majority Leader Neptali Gonzales II of Mandaluyong City, Pampanga Rep. Aurelio Gonzales Jr. and Cavite Rep. Elpidio Barzaga Jr.

Globe Asiatique also has housing projects in Cavite and Mandaluyong City.

The worsening state of Humanity

If you're a mother, thinks you think about are are like, what kind of a world will my kids and grandkids will live in the future. You then check the state of the world in the present and realize how things will get better in the future. With the onset of technology and lots of living aids that are suppose to help us stop and appreciate the wonders around us, it seems like our society is moving backwards.

Stories of hostage taking, stealing in a different level, killings, occupies the news and television. Our kids are exposed to airing of dirty laundry on television and internet, Sex Scandals, materialism, going to jail by socialites and actors and then getting the 15 minutes of fame, these are becoming the staple arsenal of a teenage life, with their young impressionable minds, this things will become milestones of becoming famous which is the goal of a lot of kids nowadays. They see fame and fortune, but the media is forgetting to highlight fame and fortune that was derived from hard work and talent, instead how notorious or how big your shock value are.

So tell me, are we moving forward as a society or just waiting for a meteorite to hit us and transport us back to caveman days from which we came.

what an indian sayer

totally didn't write since april, but i was like a zombie for the past month, totally no zest. Now seems to have had found it, besides the fact I'm knocked out too. Hahaha

Oh lord, it was a long time

I totally did not write anything for the last couple of months, dropped out of twitter and wallowed in my own personal space. It was sure crazy. Just after the the last post, which was sick in amsterdam, I went to 7 different places in Europe. After that, upon coming home, got pregnant then, miscarried, had christmas, decided to loose weight, learned how to swim, joined a triathlon and now contemplating and power hungry again. After 2 years of trying to be plain and simple, I realize I do crave for power, fame and Fortune... just like everybody else.

sick in amsterdam

My hubby was very much looking forward to our first stop, which was Amsterdam. We were suppose to stay 4 days and 3 nights then drive for a business meeting in Zandvoort which is 45 minutes away from the city. We figured 2 nights of questionable state is quite good enough to start our 3 week workation.The hubby started having the flu in manila which made him very cranky the whole 12 hours from hong kong. He had equalizing problems during the plane's descent which made me feel i would like to borrow a feeding bottle to make him suck it, which is the usual remedy for newborns traveling, the other option, which would require no paraphernalia but would definitely scandalized the person sitting beside us.

Upon arriving in Amsterdam, which was quite early, we got in with a CX flight that arrives at 6am . so we were couldn't check in and decided to go into the hop on hop off canal boat ride, which I highly recommend. We went walking until 2 pm and check in. From the moment he got in , he resurfaced from our room 2 days after. So me and my companions decided to grab a drink at Leidesplein, which is like this square of bars and pubs. We decided to start drinking without eating, the cold or jetlag made me fell not hungry at all. i felt it after my 3rd double scotch with coke, we decided to go to Argentinean steak house which were quite abundant in Amsterdam, I never got to try it. I needed to get home, my first night in Europe, I was sick because of drinking. jetlag+ not eating+ scotch, off to the loo.

Because he can.

Its was quite the story last week that Chavit Singson did a Chris Brown to a former live- in partner. At first it was amusing as you would regard people airing dirty laundry, but later on you realize this just mirrors the state of our country. There are several factors that was raised by one blog I follow (Victorina) but also there are some items I would like to add as well.

• According to Chavit, he is under the protection of the law that states that if a spouse and get me a male spouse catches the other in act of sex with another, punishment is basically waived. Victorina stated that this will not apply to Chavit due to the fact that they weren't married. But also they say that if you have been living with a person for 3 or more years and with witness that basically calls you a common law wife.????
• According to Che, she wasn't caught on the act but actually having dinner. So again the first item can be discussed further.
• It is also said that they have already broken up, the only factor in consideration is the fact that Chavit is paying for the girls expenses, what was their deal??? Was Chavit just trying to be generous to a one time love and mother of his kids, maybe not.
• Chavit being asked by GMA to do a leave of absence, but instead dared the President to fire him, which of course she will not because he might do an Erap on her.
• Chavit basically saying he was good enough not to kill them, why in the world will he say that on record and to the media as well...well because he can.

Or maybe at the end of the day it his way of getting the share of attention, cause the election is just around the corner. He wanted to play up the victimized role to garner sympathy but the script did not match this though. Maybe a sex video with his apparent 18 year old new conquest would have been more effective.

At the end of the day, what will protect us from people like this?

my favorite baby photo of my daughter

She was so limber and loves to such on her toes.