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The case of Benjamin Pinpin, the Development Bank of the Philippines (DBP) lawyer who took his own life, is worthy of an Alfred Hitchcock mystery thriller as new and strange twists happen almost everyday and personalities involved could lead to the very doorsteps of the seat of power.
Available facts from people in the know who understandably want to remain anonymous related that trouble started to percolate at the state-owned bank when DBP chairman Jose Nuñez took office. Nuñez appears to be a pawn of Buddy Zamora who in turn is becoming the most prominent of Noynoy’s associates in business.
Zamora was a major campaign financier of Noynoy and was rumored to be Noynoy’s benefactor of his most prized toy, the Porsche, that he supposedly only recently sold.
Zamora, who is into heavy industries, including Philphos — a major maker of fertilizer — and Nonoc mining, apparently owed the DBP P3 billion upon the assumption of Nuñez. To pay off the maturing loans, Zamora supposedly applied for new loans with the same bank..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110809com1.html
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