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Another big-time BoC scam; billions lost N.O . N.O.N.S.E.N.S.E Jacinto 08/28/2011

Sunday, August 28, 2011

Another big-time BoC scam; billions lost

N.O . N.O.N.S.E.N.S.E
Jacinto
08/28/2011
More than 2,000 containers disappeared on its way to the Port of Batangas, with government losing billions in forgone revenues, we had written earlier. But there is again talk that another 1,470 containers have again been diverted from MICP to fake warehouses with government losing several more billions.

How can this happen right under the very noses of the Commissioner of Customs and his officials? How could they release these 1,470 container vans filled with resins with an estimated value per container of P3 million without paying a single centavo as tax and duty to the government? It is mind boggling how Customs officials can conspire to perpetrate this very big scam.

The scam allgedly occurred when 1,470 container vans loaded with resins were transferred to the Port of Manila from MICP but were diverted by the consignee in connivance with Customs officials to fake and fictitious bonded warehouses instead of arriving at the port of destination which is the Port of Manila. The 1,470 containers loaded with valuable and highly dutiable goods were allegedly all consigned to only one company, Xurich Corp., which must be filthy rich to import an estimated P5 billion worth of resins. Can you believe that this Xurich Corp. is allegedly a fake one, and yet the BoC headed by Angelito Alvarez was able to accredit the said corporation as an Industry-Specific Bonded Warehouse (ICBW) despite the absence of a mayor’s and business permit being submitted to the BoC. Talk is that the address presented to the BoC which is Unit 206 Joncor Bldg. at 1362 A. Mabini St. Ermita, Manila, turned out to be fictitious as the existing occupant of the said address is a travel agency and not a bonded warehouse, which was what Xurich claimed. It’s non-existence at Joncor building was certified by the building administrator stating that no Xurich Corp. ever occupied any room in the building in the last 15 years. Who could be behind this Xurich as its capitalist?.... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20110828com5.html

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