Part 4 – Glicerio P. Santos IV Sold Four INC Prime Properties in Antipolo City for PHP 16.9 Million!

Take note, brethren, this is not the father (Bro. JS) but his son, Bro. Glicerio IV aka “GP”. That’s right, one Santos after another, from the same family we featured in a previous article on family dynasty, Ref. https://incsilentnomorebackup.wordpress.com/2015/06/26/fym-foundation-inc-the-ultimate-reason-why-bro-glicerio-b-santos-jr-and-his-family-cannot-be-expelled-from-the-church/

The Santoses have been busy, selling properties bought by our dear former Executive Minister Bro. Erano G. Manalo for the Church. Turning investments of future sites of worship services and Church buildings into cash. Later in this article, we’ll see a possible motivation for this.

I hope this is no longer shocking to you, brethren, because these revelations are not for the faint of heart. And as promised, this is not where it ends. There will be more revelations coming your way soon.

Before we tackle this, here’s a recap of the other properties sold that were presented in previous articles:

INC PRIME PROPERTIES SOLD: PART 1
https://incsilentnomorebackup.wordpress.com/2015/06/12/inc-prime-property-sold-part-1/

INC PRIME PROPERTIES SOLD: PART 2
https://incsilentnomorebackup.wordpress.com/2015/06/18/part-2-inc-prime-property-sold-to-robinsons-land-corporation/

INC PRIME PROPERTIES SOLD: PART 2A
https://incsilentnomorebackup.wordpress.com/2015/07/14/part-2a-bro-glicerio-b-santos-jr-sold-inc-properties-in-ugong-pasig-city/

INC PRIME PROPERTIES SOLD: PART 3
https://incsilentnomorebackup.wordpress.com/2015/07/04/inc-prime-properties-sold-part-3-roxas-boulevard-property-worth-php-346-140-million/

Including the four (4) properties which we shall cover here, we now have a total of 9 properties sold, all in prime locations in the Philippines. That’s right, N-I-N-E!

Here’s the updated matrix that tracks these sales:

Click here for an enlarged view:

On December 11, 2014, Bro. GP sold 4 parcels of land in Antipolo City to a company called Petjatan Corp for P16.896 million.

Bro. GP is the Head Legal Counsel for the Church and son of the General Auditor, Bro. JS — a checks-and-balances issue already brought to light in the aforementioned article on “family dynasty”.

Here’s a copy of the Deed of Sale if you are looking for proof.

Full page copies can be viewed here: page1, page2

Is Bro. GP, as Head Legal Counsel, empowered to dispose of Church properties? The answer is NO. Both the Articles of Incorporation and By-Laws of the Church are explicit in this regard. The SOLE AND EXCLUSIVE AUTHORITY TO DISPOSE OF ANY AND ALL ASSETS of the Church is given only to our Executive Minister, Bro. Eduardo V. Manalo. See below:

Source: Amended Articles of Incorporation of Iglesia ni Cristo (Church of Christ)Source: Amended By-Laws of Iglesia ni Cristo (Church of Christ)

Anticipating your next question… How then was Bro. GP able to sell Church properties and accept proceeds from the sale on behalf of our Executive Minister?

It was because they used the same technique they’ve used with the Ugong properties sale. Ref. https://incsilentnomorebackup.wordpress.com/2015/07/14/part-2a-bro-glicerio-b-santos-jr-sold-inc-properties-in-ugong-pasig-city/

Bro. Radel G. Cortez, as General Secretary of the Church, issued a Secretary’s Certificate that gave Bro. GP authority. Yes, that dubious Secretary’s Certificate again.

So it is not enough that the Santoses are in key positions in the Church, FYM Foundation, Subic Bay-FYM Foundation, UNLAD, Maligaya Development Corporation, FYM Medical Foundation/New Era General Hospital, New Era University, EGM Medical Center, and various INC and FYM registrations abroad… they have to be the Church’s “real estate brokers”, too!

Setting aside for the moment the emotional turmoil that I know you must be experiencing with these revelations, let’s look into possible motivation. The obvious conclusion from this is that they needed to convert real estate into cash. The question is “Why?”. Is it because money is easier to move than real estate? Isn’t this why there are laws were created against money laundering? Ref. http://www.bsp.gov.ph/regulations/laws_aml.asp

Take note that we are not accusing the Santoses of doing anything overtly illegal involving these transactions. They’re too smart for that — “Practice makes perfect”, remember? In all likelihood, the proceeds from sale of real estate may have actually found its way into the Church coffers. But did they stay there? Or did they get moved elsewhere, where they have more freedom to do with it what they please? This is not to say that they do not have control over the money while it is inside the Church because don’t forget that Bro. JS is not only the General Auditor of the Church but he has also usurped the function of the General Treasurer, a post held, at least on paper, by Bro. Ernesto Suratos. Between these two roles, Bro. JS IS THE CASH KING of INC. But there are more “eyes” there than there are in the “affiliate” (not used in a legal sense) organizations they control.

While the Church undoubtedly has legitimate expenses, a big chunk of its money flows to these “affiliate” organizations in the form of “private donations” from the Church. Let’s examine this further then I will let you draw your own conclusions, brethren.

These are flows of money from INC to “affiliate” company based on latest available information filed with the Securities and Exchange Commission:

1. UNLAD

Cash contributions from INC to UNLAD in 2014 was over P92 billion! In 2013, it was over P25 billion! This is the same UNLAD that makes the various products our ministers and brethren are forced to buy, including those near-expired planners! And, yes, that’s BILLIONS of pesos in offerings from the brethren, majority of whom are poor. These are the same brethren on whose backs the properties intended for Church use were bought by Bro. Erano G. Manalo, AND NOW SOLD.

Santos’ control over UNLAD: Ma’am Annie Santos is founder (incorporator), Board member and President, all rolled into one!

2. NEU

The New Era University (which includes the College of Evangelical Ministry) received close to P6 billion in donations from INC in 2013 and over P4 billion in 2014. The notes to the audited financial statements may state the noble intended purpose of the funds but a more discerning brother or sister may ask: Is that where all the money was actually used?

Here you can see that Bro. JS has control over the purse strings of NEU, being its Corporate Executive Finance Officer (CEFO). And a Board member to boot!

3. FYM Foundation. In 2013 alone, INC contributed over P125 million to FYM foundation. In 2012, the equivalent amount was over P244 million!

 

Here you will see that FYM Foundation’s control rests with Bro. JS and his sons, Glicerio III and IV.

4. FYM Medical Foundation (New Era General Hospital). In 2013, INC contributed about P42 million to FYM Medical Foundation.

As with the FYM Foundation, father and sons again reign supreme over the FYM Medical Foundation:

5. Subic Bay – FYM Foundation. In 2012, INC donated P5.462 million to this lesser known FYM Foundation in Subic Bay Freeport. In 2013, donation was P105 thousand.

And, as expected, Subic Bay – FYM Foundation is also ruled by the dynamic Santos trio.

For a better perspective and sources to information provided here, please do not fail to read https://incsilentnomorebackup.wordpress.com/2015/06/26/fym-foundation-inc-the-ultimate-reason-why-bro-glicerio-b-santos-jr-and-his-family-cannot-be-expelled-from-the-church/.

Brethren, I will leave it up to you to connect the dots. One doesn’t have to be a rocket scientist to figure this out. There’s so much evidence here that it’s terribly disturbing. Just follow the money …

In the meantime, back to the topic at hand, let us now take a look at the four (4) properties Bro. GP sold to Petjatan Corp. in December 2014 for a total price of P16,896,000 or P3,000/sqm, a 50% discount off of the original asking price of P6,000/sqm.

On this ground plan, we’ve highlighted the lots that were sold to Petjatan Corp.

The properties are located along Sumulong Highway in Sta. Cruz, Antipolo City, a high-traffic area, not far from Robinsons which is just up ahead.

Details of each lot sale follow:

Lot #1

 

Lot #2

Lot #3

Lot #4

 

 

-Antonio Ebangelista

“They tried to bury us…they didn’t know we were seeds”

Official Website: http://www.iglesianicristosilentnomore.org

Instagram: @antonioebangelista

Twitter: @AEbangelista1

Email:  [email protected]

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“Unlike you, I don’t have power or money, but what I do have is a very particular set of skills, skills I have acquired over a very long career.  Skills that make me a nightmare for people like you.  If you tell the truth now, that’ll be the end of it.  I will not look for you, I will not pursue you.  But if you don’t, I will look for you, I will find you, and I will expose you.” - AE