Hot Breaking News for Filipinos

Kayo ang kawatan! Duterte threatens economic sabotage raps vs. Lopezes over unpaid DBP loans

0 2,060

President Rodrigo Duterte has threatened to go after the Lopez family for economic sabotage over the multibillion-peso loans that the Development Bank of the Philippines (DBP) wrote off in the favor of the companies they own.

In a speech in Clark, Pampanga Wednesday (March 7), Duterte reminded the owners of ABS-CBN of how they hoodwinked government several years ago.

“Kaya ako ‘pag binira ko ang p**** i***** ABS-CBN na ‘yan kaya kitang babuyin. Wala kang masilip sa akin. Kayo ang mga kawatan,” he said.

“ABS-CBN? Pagkatapos ni Aquino, there were the Lopez Group of Companies. You remember that? You borrowed money from the Cen — from the DPWH, it was a financing institution. You borrowed close to P7 billion at the end of the day it was condoned. Tinabla ninyo because you were in power, because you are the media,” he added.

In 2011, the late journalist Neal Cruz revealed that the DBP granted behest loans amounting to around P1.6 billion to companies owned by or used to belong to the Lopez family. These are:

Maynilad Water—P710.86 million

Bayantel—P591.81 million

Central CATV Inc.—P207.10 million

Benpres Holdings—P157. 95 million

As one of the country’s oligarchs, Duterte said he’s determined to make the Lopezes pay for supposedly robbing public coffers.

“P***** i** yayariin ko kayo, economic sabotage. Alam mo mga Lopez ‘yang economic sabotage? Walang bail ‘yan. Gusto ninyong subukan? Para makatikim tayo lahat. Kayong mayayaman, mga elitista. T*** i***** elitista, hindi ninyo pera ‘yan. Pera ng tao ‘yan, ginamit,” he said.