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Aquino, Arroyo camps’ paths criss-cross on Code-NGO scam By Charlie V. Manalo 10/24/2010

Sunday, October 24, 2010

Aquino, Arroyo camps’ paths criss-cross on Code-NGO scam

By Charlie V. Manalo 10/24/2010

The exchange of charges and counter-charges on the Peace Bond scam which happened during the early years of President Arroyo’s term placed the scandal as a point of convergence between the past and present administrations with the son of the former President, Ang Galing Pinoy Rep. Juan Miguel “Mikey” Arroyo, twitting Malacañang yesterday for employing double standard on cases that it believes should be taken up by the Philippine Truth Commission (PTC) while presidential spokesman Edwin Lacierda is having a hard time shielding two Cabinet members of President Aquino without applying the same defense on Arroyo, the principal target of the PTC.

In a statement, Arroyo said it was rather odd for Lacierda to clear Social Welfare Secretary Corazon “Dinky” Soliman and Peace Process adviser Teresita Quintos-Deles of any wrongdoings in the PEACe Bonds scandal which was brokered by the Caucus of Development NGO Networks (Code-NGO).

The scam had the government floating P12 billion in so-called zero-coupon bonds to allow Code-NGO to collect P1.4 billion in windfall from the debt float.

Soliman and Deles, who are among prime movers of Code-NGO, were alleged to have benefitted from P10-billion PEACe Bonds, reportedly netting a windfall profit of over P1 billion, tax-free. Both were also former Cabinet secretaries of Arroyo..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/headlines/20101024hed3.html

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