JPE’s notes (1)

E·N·Q·U·I·R·Y
DEMAREE J.B. RAVAL

JPE’s notes (1)
Sunday, 02 17, 2008

Sen. Juan Ponce Enrile (JPE) delivered last week his privilege speech, entitled: “Ali Baba and the Forty Thieves.” The speech referred to the reported plunder of Philcomsat Holdings Corporation (PHC) by presidential relatives and cronies; their lawyers and public relations specialists; officials and nominees of the Presidential Commission on Good Government (PCGG); officials of the Securities and Exchange Commission (SEC); and, those connected with the legislative and judicial branches of the government.

PHC is PSE-listed, with 2,500 shareholders from the investing public. It is owned 80 percent by Philippine Communications Satellite, Inc. (Philcomsat), which in turn is 35 percent owned by the Republic of the Philippines.

The notes of JPE, which he read verbatim on the floor of the Senate, detail where the monies of once cash-rich PHC went, and identifies those who plundered PHC. Surprisingly, the speech, despite the paramount public interest involved, was not extensively covered by tri-media. (Either drowned out by the confessions of our modern-day hero Rodolfo “Jun” Lozada on the ZTE-NBN scandal, or to the credit of excellent public relations work, but probably more of the latter.)

JPE explained that the financial data he used in compiling the list of those involved in the plunder of PHC came from the following: Checkbook stubs from PHC’s Maxi-One account in Bank of the Philippine Islands (BPI); BPI Bank Statements and cancelled checks; internal management reports, particularly the Cash Disbursement Report detailing each check number, amount, purpose, and its direct or ultimate beneficiary; and, PHC’s Disbursement Voucher Book.

The notes of JPE are now part of the records of the Senate, and referred to the appropriate committee for further legislative inquiry in aid of legislation.

In this first part, we shall quote from the notes on those who lent their legal expertise to PHC, excepting those employed in the PCGG, or in the SEC, or in the legislative and judicial branches of government, who will all be treated in a separate installment:

“8. LUIS K. LOKIN – Chief Legal Operator of PHC. Sued by his former law firm partners, Atty. Mario Raval and Vice-Gov. Rolex Suplico for estafa. Suspended by the SC from the practice of law. Faces several disbarment complaints in the IBP and contempt charges in the Sandiganbayan. Received P31 million as compensation, fees, allowances, reimbursements and cash advances including P2 million for a Sandiganbayan TRO and another P2 million for PR for SC injunction.

“15. ROBERTO V. SAN JOSE – Started the intra-corporate dispute in PHC in 2001 by refusing to recognize the new government nominees who were appointed to replace Araneta and Salonga. Because of his wrong decision as PHC Corporate Secretary to refer to the PHC Board (then controlled by Araneta and Salonga) the question of which Philcomsat proxy to honor, one to Salonga and another to new government nominee Carmelo Africa, San Jose allowed the Araneta-Salonga group (which later became the Locsin Group) to entrench themselves in PHC. For his (lack of) efforts, he was rewarded with P1.2 million in directors’ fees and his law office received P5.4 million in “legal fees”.

“16. DELFIN P. ANGCAO – Used to work in the SEC and provided PHC with connections in the SEC. Assistant of San Jose and an associate of the Castillo Laman law office, he provided most of the legal documentation of the fraud, making them appear to be corporate transactions. Assumed the position as Corporate Secretary when embarrassment and shame caused San Jose to resign as PHC Director and Corporate Secretary.

“18. SIKINI C. LABASTILLA – Associate of Luis Lokin. Filed Complaint with Sandiganbayan omitting material facts and containing misrepresentations for which he was censured. Appears as counsel for Andal and Locsin, and claims to be counsel for POTC and Philcomsat even when both the PCGG and the SolGen deny that he is. Claimed by Lokin to be the recipient of the P2 million pay-off to the Sandiganbayan. Received a total of P13.7 million from PHC.

“19. ALMA KRISTINA O. ALOBBA – Claims to be the Asst. CorSec of POTC and Philcomsat and a director and Asst. CorSec of PHC. Filed petition for TRO on behalf of Nieto, which Nieto denied he authorized and subsequently withdrew because his signature was falsified. Despite the withdrawal, the CA granted Alobba’s petition for TRO and injunction.

“20. PITERO REIG – Locsin Group lawyer and outsourced lawyer of Luis Lokin. Filed Complaint for Concepcion Poblador with Sandiganbayan and successfully procured a TRO against the PCGG and Usec. Enrique Perez directing them not to recognize the new PGMA appointees in POTC and Philcomsat despite the “I desire” letters written by PGMA to replace the Locsin Group. Unsuccessfully tried to block physical takeover by Unified Board of PHC offices. For his efforts, his law office received P5 million in “legal fees”.”

The total legal fees paid out by PHC as revealed by JPE is Php85 million, of which Lokin together with his associate Labastilla received Php44.7 million as borne out by the notes.

Next week, we shall quote here JPE’s notes on public relations work for PHC, which cost the company the amount of Php56 million. This includes the expenditure of Php7 million, indicated in a PHC checkbook stub bearing the initials “LKL” as intended for “PR” given to a court staff mentioned in JPE’s notes.

The late Potenciano “PI” Ilusorio, founder of Philcomsat and a good friend of JPE, has a colourful word for all these: “Achokaraba.”

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