Spokesperson and MAD head Joey Salgado explained that Binay had disposed of his interests in the farm – shares that were worth P400,000.00 in 1994.
“In 1994, the Vice President started a piggery business in Rosario, Batangas through a sole proprietorship under the name JCB Farms. JCB Farms is duly registered in the BIR–Rosario, Batangas office. JCB Farms is a mere lessee of a 9-hectare property in Rosario, Batangas,” Salgado said.
JCB Farms’ Leasehold Improvements were also duly reported in its annual audited financial statements and in the tax declarations duly filed with the appropriate local government unit.
According to Salgado, JCB Farms earned for the Vice President an additional net income of P44,350,921.88 from 1994 to 2010. The Vice President also paid taxes amounting to P15,889,581.83 during the said period.
The Vice President’s spouse and former-Makati Mayor Dr. Elenita Binay, who owns a flower shop, had also been sourcing supplies from the Batangas flower farm.
The statement also said that farm employees had seen helicopter flying around the property last Thursday.
“The said helicopter flew around the property for about 20 minutes. According to the employees, this was the first time that such an incident happened,” Salgado said.
He added that they would not be surprised if video footage or photos of the property, possibly taken from the helicopter, would be circulated or presented during a Senate subcommittee hearing alleging Binay as the owner. — Tricia Macas/DVM, GMA News
