THE Office of the Ombudsman has filed graft charges against Davao del Norte Rep. Antonio Floirendo Jr. over an alleged anomalous contract involving the Tagum Agricultural Development Co. and Bureau of Corrections in 2003.
Graft investigation and prosecution officer Voltaire Africa found probable cause to indict Floirendo for violation of the Anti-Graft and Corrupt Practices Act, for having a financial interest in deal.
Earlier, Speaker Pantaleon Alvarez questioned the joint venture agreement between BuCor and Tadeco belonging to Floirendo, saying the July 11, 1969 contract allowed Tadeco to lease 3,000 hectares of the BuCor-owned land at the Davao Penal Colony. In 1979, the contract was extended for 25 years, and for another 25 years in 2003.
The contract was renewed on May 21, 2003, with BuCor guaranteed an annual production share of P26,541,809 to automatically increase by 10 percent every five years.
The joint venture agreement stipulated BuCor should receive profit on the leased lands of Floirendo’s banana plantation.
Alvarez filed a graft complaint against Floirendo before the Ombudsman.
According to the Ombudsman, under the 2003 arrangement, Floirendo directly owned 75,000 shares of Tadeco and 537,950 shares in Anflo Management and Investment Corp., Tadeco’s parent company.