Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Ex-DPWH engineer Henry Alcantara turns over P110 million in cash to the nation’s coffers

Ex-DPWH engineer Henry Alcantara turns over P110 million in cash to the nation’s coffers – BusinessWorld Online


      
      
      
      
      








Dismissed Bulacan District Engineer Henry C. Alcantara on Friday turned over P110 million in cash to the government as partial restitution after admitting to authorizing payments for non-existent “ghost” infrastructure projects.

Acting Justice Secretary Fredderick A. Vida said Mr. Alcantara’s turnover, made through his lawyer, is part of the restitution process linked to his application to the Justice Department’s Witness Protection Program (WPP) amid the ongoing flood control investigation.

“This is a demonstration of good faith. As a state witness, he is saying, ‘Mr. DOJ, we want to help the government because we regret our actions. And if we profited from it, we are returning it to the public.’ This is a step toward achieving justice,” Mr. Vida told a press briefing in Filipino.

He added that the Bureau of the Treasury (BTr) and Land Bank of the Philippines (LandBank) will jointly conduct the necessary procedures before the money is officially recognized. “If there is a counterfeit, if data is missing, everything is verified. Once counted, they will certify the amount, and the Bureau of Treasury will issue an official receipt.”

Mr. Alcantara earlier admitted that, while serving as Bulacan’s first district engineer, he signed completion certificates for multiple non-existent flood control and infrastructure projects. The total ill-gotten amount from alleged kickbacks and anomalous projects is estimated at P300 million from Mr. Alcantara’s tenure alone.

The cash turnover coincided with the DOJ’s preliminary investigation into the Bulacan flood control project cases on Friday — Erika Mae P. Sinaking

AgarWalEkwensi





    You May Also Like

    Stock Markets

    STOCK PHOTO | Image by Sahand Babali from Unsplash (Part 6) Can the Philippines still be a major exporter of manufactured exports like the...

    Finance

    The Stephen Lawrence Day Foundation (SLDF) and the Institute of Directors (IoD) have joined forces to launch a groundbreaking scholarship programme aimed at accelerating...

    Stock Markets

    Bill grants greater investigative powers for Ombudsman – BusinessWorld Online                                    ...

    Stock Markets

    STOCK PHOTO | Image from Freepik A BILL mandating refunds for consumers hit by internet connectivity disruptions was filed at the House of Representatives, in...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.