SGV firm clears CYL on alleged P380M fund mess

Sun Star Bacolod - - Front Page -

SYCIP, Gor­res and Ve­layo (SGV) the coun­try’s top ac­count­ing firm, through their le­gal coun­sel, Poblador, Bautista and Reyes Law Of­fice, cleared yes­ter­day Val­lacar Tran­sit Inc. (VTI) Chief Fi­nan­cial Officer (CFO) Celina Yan­son-lopez (CYL) of any li­a­bil­ity on the alleged 380 mil­lion peso fund mess.

SGV made the clarificat­ion shortly af­ter sev­eral re­ports were pub­lished from the camp of for­mer VTI pres­i­dent Leo Rey Yan­son and Yan­son clan ma­tri­arch Olivia Yan­son

ac­cus­ing CYL of dip­ping her fin­gers in the cor­po­rate cookie jar last 2018. The Yan­son Four’s le­gal coun­sel, Atty. Sheila Si­son, a part­ner in For­tun Nar­vasa & Salazar, had ear­lier de­scribed the ac­cu­sa­tions against her clients as un­true and base­less.

In­cum­bent VTI pres­i­dent Roy Yan­son, in an in­for­mal press con­fer­ence with Ba­colod-based jour­nal­ists said that the dis­cov­ery of these funds mess might have led to the break which caused the re­cent squab­ble among mem­bers of the Yan­son 4-dom­i­nated VTI board.

Dis­agree­ments be­tween the clan’s ma­tri­arch Olivia and the Yan­son sib­lings on how to treat those who com­mit­ted the funds mess broke the once sta­ble board into the ma­jor­ity block— Roy, Ricky, Celina and Emily. The mi­nor­ity led by Leo Rey and Gin­nette Du­man­cas who sided with their mother, was also the first to protest the fil­ing of crim­i­nal charges against a for­mer com­pany of­fi­cial who was de­scribed as one of the ma­tri­arch’s pet em­ploy­ees.

Acting upon the writ­ten re­quest of Atty. Sigfrid For­tun, se­nior part­ner of For­tun Nar­vasa & Salazar and coun­sel of the Yan­son ma­jor­ity namely, Roy, Ricky, Celina and Emily Yan­son, SGV asked its le­gal coun­sel to pro­vide a re­ply to For­tun’s in­quiry and clar­ify if its au­dit re­port in­deed refers to CYL as the one re­spon­si­ble for the re­ported miss­ing funds.

In a let­ter dated Septem­ber 10, 2019, Poblador Bautista and Reyes Law Of­fices clar­i­fied that: “with­out dis­clos­ing the con­tents of its re­port, SGV can con­firm that the Re­port did not re­fer to Ms Yan­son­lopez as the per­son di­rectly li­able for the loss of the funds.” The firm’s se­nior part­ner, Atty. Alexan­der J. Poblador and Atty. Deogra­cias G. Fel­lone both signed the let­ter on be­half of SGV.

It was SGV that the Yan­sons asked to con­duct an independen­t au­dit­ing probe af­ter CYL her­self as CFO pushed for the in­ves­ti­ga­tion of sev­eral anoma­lous trans­ac­tions re­port­edly made by VTI’S Manila Pur­chas­ing Of­fice (MPO) some­time in 2018. The cashier of the MPO al­legedly made il­licit en­cash­ment and with­drawals thru fal­si­fied and forged signed checks. The unau­tho­rized trans­ac­tions re­port­edly em­anated from the MPO, which was then headed by the for­mer com­pany of­fi­cial who has since then been re­moved from his po­si­tion.

Sources say it was the re­spon­si­bil­ity of said for­mer com­pany of­fi­cial to iden­tify and re­quest pro­cure­ments for the Yan­son Group of Bus Com­pa­nies.

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