BINAY’s ASSET: P2.5M IN 1988, P60M in 2013
Vice President Jejomar Binay is running for president under the opposition United Nationalist Alliance (UNA) of former President now Manila City Mayor Joseph Estrada.
The Senate blue ribbon committee is investigating alleged overpricing in the Makati Parking building Phase 2, a P2.7 billion project started when the Vice President was still the mayor of Makati City.
Appearing in an earlier hearing of the Senate committee, former Vice Mayor Ernesto Mercado, a former political ally of the Binays, said Vice President Binay, as then city mayor, got 13 percent commission from city government projects including the Makati Parking Building, which is at the center of the plunder rap filed by Enciso and lawyer Renato Bondal.
Binay said all the allegations against him and his family are black propaganda and his camp said Binay’s wealth — P2.5 million in 1988 when he first sat as mayor and jumping to P60 million in 2013 — was derived from the businesses of the Vice President and his wife, Dr. Elenita Binay.