CJH developer vows to fight malversation raps

BAGUIO CITY -- The private developer of the Camp John Hay here y vowed to fight the malversation charges filed by the Department of Justice against its top executives, even as it decried the harassment and dirty tricks allegedly employed by the Bases Conversion and Development Authority against them.

Alfredo Yñiguez III, executive vice president and chief operating officer of the Camp John Hay Development Corp. (CJHDevCo), said the charges were baseless noting that the firm is not a public corporation.

Yñiguez expressed belief that the case was just a result of BCDA’s demand for CJHDevCo to return the 16 units of the Camp John Hay Manor Hotel and 10 units of the Camp John Hay Suites Hotel, which have a total value of P121 million, as partial settlement of the CJHDevCo’s unpaid rental obligations.

The firm’s spokesman and vice president for litigation Manuel Ubarra vowed to disprove the allegations in court.

“The malversation charges against CJHDevCo officials are trumped up charges since the funds involved are far from being public in character since this does not involve the state but a private corporation,” the lawyer told reporters in Manila yesterday.

Ubarra said the BCDA has already in their possession all the titles of the 26 units of the Manor and Suites Hotels.

He said the BCDA has a leaseback arrangement with the Camp John Hay Hotel Corp. to pool all units in the hotel’s inventory since July 2008.

In a resolution released earlier this week, the DOJ approved the indictment of CJHDevCo officials for failure to remit earnings from 26 hotel rooms to the BCDA.

Among those charged were CJHDevCo chairman and chief executive officer Robert John Sobrepeña, and officials Ferdinand Santos, Yñiguez and Emily Roces-Falco.

The 26 hotel units were supposed to have been turned over to the BCDA in 2008 as part of CJHDevCo’s unpaid rent. But the units were never transferred to BCDA and CJHDevCo continued to earn from it.