Binay mansions and farm unveil through a video

Former Makati City Vice Mayor Ernesto Mercado revealed a 350-hectare farm with mansions and flowers, allegedly owned by Vice President Binay, to the Filipino people where the money trail went on the Makati City Parking Building 2 controversy in the Senate Blue Ribbon sub-committee hearing Wednesday.

Mercado, using a video documentary, showed forth to the world the mansions, piggery, pools, and flower orchards and a cock farm allegedly owned by a corporation whose shareholders are reportedly dummies of the Vice President.

The 350 hectare agricultural estate, located in Barangay Maligaya, Rosario Batangas, is probably now worth P1.2 billion, according to Mercado’s estimate.

He said this is equivalent to “six Luneta Parks, 10 Araneta Centers or even half the city of San Juan.”

He said the estate has 2 mansions, an airconditioned piggery, orchid farm, cockbreeding farm, horse ranch and a man-made lagoon.

Only 150 hectares of the land have been developed.

Mercado said Binay first bought five hectares of land from businessman Delfin Almenda. This led to the founding of Agrifortuna Inc.,which currently owns the 350-hectare property and whose shareholders are allegedly dummies of the vice-president.

He said that as of 2002, the property was only 95 hectares.

The Vice-President earlier declared a net worth of P60,118,766 as of end 2013. His assets amounted to P66,171,663, while his liabilities were P6,052,897.

Binay’s net worth was mainly due to the JCB Farms, a piggery business he started in 1994 in Rosario.

Today’s hearing was supposed to be the last but Sen. Aquilino Pimentel III said the next hearing will be announced. Pimentel also extended his invitation to the Vice President to answer the allegations.

Doreelyn is a graduate of Banking and Finance at the St Louis University, one of the top 10 universities in the country. Without Doreelyn, Pabaon News will not be complete.Her knowledge of business catapults Pabaon News into another level. Her passion for writing continues to push her to the limit