Former Speaker Oscar C. Rasa, the group’s spokesman and adviser, said they are also considering two other options while processing and evaluating evidence regarding the deal.
The first option, he said, is to urge an independent body to investigate the propriety of MPLT’s purchasing a private lot when many public lands are available.
Rasa said they are also considering filing a legal complaint against MPLT for “violating its fiduciary responsibility.”
“Our concern is the propriety of purchasing the lot,” he said. “Why was the appraisal made after the purchase? Why was the public land offered by the Office of Public Auditor not considered? How did MPLT come up to this idea of buying property on Capital Hill?”
MPLT Chairman Alvaro Santos said he was surprised that Rasa and Taotao Tano president Greg Cruz are not “questioning” MPLT’s successful investment activities in the past that saw its portfolio growing from $26 million to $106 million, of which $37 million was remitted to the general fund.
“They did not ask why the public and OPA were not informed about how MPLT reallocated and rebalanced its portfolio two years ago, resulting in good investment earnings last year when many companies were not doing good,” Alvaro said.
He added, “I get the impression that these persons are bent on negativity.”
Rasa wants to know if MPLT had a broker for the lot deal since the initial payment was received by Viola Sablan as agent of landowners Vicente and Martina Camacho on May 14, 2008.
V.M. Sablan & Associates, an appraisal firm hired by MPLT, submitted its market value report on May 23, a week after MPLT paid the landowners $68 per square meter for the 4,000 sq. m. lot.
Rasa said their group is “not witch hunting — we will prove, sooner or later, beyond reasonable doubts, that there was conflict of interest and influence peddling in this deal.”
