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Sep 01

An online paper and picture trail?

Coming at the heels of the reports scrutinizing the President’s assets and liabilities comes reporters zeroing in on the properties of the President’s sons. The other day, Vera Files broke an investigative story on Arroyo sons acquire U.S. homes, businesses after election to Congress. The report focused on two properties, each owned by one of the President’s sons.

The first is a property on Park Street in Foster City belonging to Rep. Juan Miguel Arroyo and his wife:

Arroyo Park Blvd Property

Readers who commented on this document suggest that:

1. The property was bought for $925,000 with a downpayment of $185,000 and a mortgage of $740,000.

2. Rep. Arroyo then essentially sold the property to his wife for $1,320,000 with a $264,000 downpayment and two mortgages totaling $1,056,000.

While the Palace has asked the public not to jump to conclusions, the President’s combative eldest son,in the clip above, stated two things which complicates the story.

First, he stated the property attributed to him was actually owned by a corporation in which he had shares. But Vera Files pointed out California property still in Angela’s name, records show. Here’s the online record of the history of the property’s ownership (via San Mateo Country LandDocs website; click here for a larger view):

Grant history, Mikey Arroyo

Second, he also stated no one lives in the property. Perhaps that assertion will stand or fall on a lawyerly appreciation of what constitutes habitation.

If you go to Google, you can find the property as follows (click here for a larger view):

Google View Mikey Arroyo Property

And if you go to Google Street View (which began in 2007, a year after the Pampanga Representative acquired his property; therefore any photo published by Google was taken after the property was already in the hands of Rep. Arroyo) you will see this (click here for a larger view):

Mikey Arroyo Property Google View

And if you zoom in, you can get a closer view of the house and its garage (click here for a larger view):

Mikey Arroyo Property Photo

Potentially, that’s a Mercedes SL550R in the garage and a Mercedes R350 parked outside. With a Ford pickup truck disgorging or loading something into the garage at the time Google took its picture. Proof of habitation or just a visit?

The second item in the Ver Files story is a property on California Street, in San Francisco, belonging to Rep. Diosdado Arroyo and his wife:

Arroyo California St Property

Scrutiny of this property has only begun, and is more difficult because it’s an apartment.

As far as both properties go, while questions have been raised, the Arroyo sons can say they have, at least, declared the properties. What might truly be explosive is if there are other properties, but that would require possibly having to pierce various corporate veils. But the press smells blood.

Reporters will probably be tracking down Premier Financing, which facilitated the purchase of a few properties here. Premier Investments,a real estate brokerage firm (property sales, mortgages, etc.) run by a certain Anthony J. Arroyo and wife Maybelline, who supposedly meets the President and family when they’re in the USA, will be a firm reporters will look into, too.

Anthony J Arroyo

Raissa Robles has done the spadework on the official disclosures of Rep. Mikey Arroyo from 1993 to the present. It makes for very intriguing reading.

Note: My appreciation to “thegreatest” (also commenting in Robles’ blog) for assistance with the documents and photos used in this entry.

35 comments

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  1. Gino C. MATIBAG

    This is not the first time that we have heard of similar hidden wealth and clinging-to-power stories like this. One thing we fail to see is not only the personalities involved but more importantly, the system. If we follow the correct auditing system, accountability, and transparency, then we do not have to hear things such as this. http://bit.ly/Ivqxw

  2. J_AG

    Holy mackeral!!!! Anyone who has ever bought a home in the States will know that a mortgage for over a $450K is a jumbo mortgage. That would mean a range of 6% interest per anum.. That would mean a monthly amortization of $6000+ a month. On top of that real estate taxes and maintenance of the home.

    To swing that mortgage the couple must have a income of at least $200K + a year to qualify.. That is a minimum of Php 10M a year in pesos. The mortgage company will have to assured of that income stream to get approval. I wonder if they organized a co-signer. One thing I love about the U.S. is the transparency of real estate sales.

    That is quite boggling numbers for a Congressman from Pampanga.

  3. manuelbuencamino

    Kawawa naman ang mga Arroyo. Nakaw nga ang yaman pero pinaghirapan naman.

    Kala ba ninyo madali magnakaw? Kala ba ninyo madali ang makisama sa mga smuggler, jueteng operators, drug runners, extortionistas, at mga iba pang klaseng kriminal?

    Sige kayo ang lumugar sa kanila, tignan natin kung maligaya kayo at kung makakatulog kayo ng mahimbing. Pag nasa labas kayo, pag nasa party, kala ba ninyo masarap isipin na kayo ang pinagbubulungan at binabatuhan ng mga matatalas na tingin?

    Hay naku, kawawa talaga ang mga arroyo. Ni walang tunay na kaibigan pag wala na sa poder.

    Buti nalang meron silang limpak limpak na salapi at ari-arian para mabawasan ang kanilang pagdurusa.

  4. manuelbuencamino

    Following up on Jag’s comment – Is there any way to see the mortgage papers? That will say a lot about Mikey’s US income stream and/or his co-signer.

  5. taxj

    Tips of icebergs of Arroyo family corruption! What else? Kawawang Marcos, mukhang natabunan na agad ang kanyang record.

  6. BrianB

    So why is this particular house on Google Street View?

    Does the guy in the blue sweater look Pinoy?

    Btw, lucky find. You will probably get in the papers again, like that imaginary bill from le cirque.Hope a techie can do something with that guy in a sweater.

  7. taxj

    J-AG,

    Magkano po ba ang peso equivalent ng $6,000+ a month. Magkano po kaya ang monthly maintenance noon? Ang mga kotse? Ang furnishings? Magkano po ba ang suweldo ng isang Congressman? Ano po kaya ang iba pa nilang pinagkakagitaan para ma-afford ang ganoon karangyang pamumuhay?

    Ang presidential sons po ba’y exempted sa lifestyle check? Sakop din po ba sila ng protective wings ng Ombudsgirl Friday ng mag-asawang nasa Malakanyang? Hindi po kaya ang pagbenta sa asawa ay isang crude attempt at a cover-up? Sadya bang ganoon na kalaki ang kanilang loot kung kaya’t hindi na maitago lahat?

    Bakit po kaya hindi ako masuka? Kumain naman ako ng ilang kutsarang noodles kahapon!

  8. supremo

    I would like to point out that since the Arroyos do not have at least a green card they are required to put a downpayment of 20%. The numbers mentioned above is proof of that requirement.

  9. supremo

    mb,

    Some pages of the mortgage transaction is definitely with the county clerk.

  10. supremo

    mb,

    The credit report will show Mikey’s personal financial accounts. That might give some clue to his income stream.

  11. supremo

    mlq3 or mb,

    Do you know a Dolores on the wife’s side of the family?

  12. mlq3

    supremo, nope.

  13. supremo

    mlq3,

    Is Mikey’s wife a stockbroker?

  14. taxj

    Caught in the act! But then, again, so what?

  15. supremo

    Why do they have to toss the house back and forth?

  16. supremo

    Why do they have to toss the house back and forth?

    1) Mikey effectively made money in 6 months to the tune of $580,000. That’s the difference between the selling price to Angela of $1,320,000 and Mikey’s mortgage of $740,000.
    2) Effectively laundered the $185,000 first downpayment.
    3) Effectively laundered the $264,000 second downpayment.
    4) Keep the property in the family and do it again.

  17. corruptbuster

    title search engines document that on the day of purchase/refinancing, mikey transferred it to angela’s name. One more thing,per philippine inquirer, Mikey owns ‘Horseman bar and grill’–if you will trace the ownership of the Beach Park property, you will see that George Skyllas, from whom Mikey bought the property, actually bought it from ‘Horseman Family Trust’, so it seems that George Skyllas,Mikey, and Horsman Family trust have closer relations than just buyers and sellers.
    Lastly, Angela still owns the property as married but sole owner after Mikey quit claim on it. Very interesting

  18. Pepe Alas

    Hello, Manolo. Do you have plans of joining and/or supporting the Third Party? =)

  19. Pepe Alas

    Hello, Manolo. Do you have any plans of joining and/or supporting the Third Party? =)

  20. thegreatest

    This comment is very interesting:

    corruptbuster

    “per philippine inquirer, Mikey owns ‘Horseman bar and grill’–if you will trace the ownership of the Beach Park property, you will see that George Skyllas, from whom Mikey bought the property, actually bought it from ‘Horseman Family Trust’, so it seems that George Skyllas,Mikey, and Horsman Family trust have closer relations than just buyers and sellers.”

    Consider that the property was bought by Skyllas for $925,000 and sold it a mere 5 months later for a $400,000 profit, that’s something very suspicious.

  21. ramrod

    Mikey says “SO SUE ME!” with a smirk…

  22. BrianB

    Hey Manolo, Alexis got get:

    http://chuvaness.livejournal.com/679259.html

  23. BrianB

    Could be some sort of payback. Doesn’t make sense to kill the two but not the maid:

    http://www.mb.com.ph/articles/218749/director-quark-henares-mourns-death-film-critic-alexis-tioseco

    I hate to speculate but some Flipinos have a whacked sense of the world. There have been recent events that caused some resentment to this guy from powerful people.

  24. BrianB

    “may have caused.” I don’t know, but really unusual robbery.

  25. supremo

    ‘Consider that the property was bought by Skyllas for $925,000 and sold it a mere 5 months later for a $400,000 profit, that’s something very suspicious.’

    Not during the good times.

  26. ramrod

    This is nothing, we’re making too much fuss over something irrelevant. If they could afford 1MPhp dinners, this is peanuts, and its their money to spend anyway…we’re making mountains out of molehills! (a big molehill, that is)

  27. ramrod

    change gravatar

  28. gigi

    Who says its “their” money?
    The Filipinos can NOT afford 1M-Peso dinners!

  29. ramrod

    how do you change gravatars?

  30. ramrod

    In this world of legalese, unless its found “illegal” in court, its perfectly legal. Unless the Ombudsman says otherwise, these guys can go scot free, don’t be surprised it Vera files get slapped with libel in the near future. Or some juicy story discrediting its members…

  31. chiepot

    of course the transactions haven’t been proven illegal, otherwise they would’ve been in jail. but we know they won’t be in jail unless there is a change of hands in the government. but don’t miss the point. we are discussing facts that show blatant corruption and just because it can’t be proven in a government-ran judicial system doesn’t mean it’s less wrong. we are expressing because this is the only way we can get heard. and we feel bad and sorry for our country and the majority of the people who live in poverty while a few hands exchange millions to trillions everyday.

  32. istambay_sakalye

    ummmm….ehhh ano…ayan kasi…ang dami nyong tanong…just ask my lawyer!…or sue me in my mom’s court…este…philippine (in)justice court pala!…any more questions???

  33. Louie Hanghope

    Alam ninyo, kung makapag-salita yang mga lecheng militante na iyan eh akala mo kung sinong mga santo na.

    Aba, si Ka Popoy Lagman nga eh namatay daw ng may suot na Ferregamo. Lumabas ba sa balita iyan, o naikwento ba ng champion of the poor tulad nila Satur Ocampo o ni Randy David? Hinde! Kasi takot sila ilabas ang tunay na kulay ng kilusan.

    O ito pa, si Crispin Beltran, yung militante na nahulog sa bubong, di ba sabi nga nila naka-Rolex nung namatay. O ilang pansit canton at sardinas na mabibili ng isang Rolex? Again, yung mga pulahan na iyan, na nagtatago sa AKBAYAN eh ayaw ilabas ang balita.

    Oo may korupsyon sa gobyerno, pero sana naman wag magsalita ang mga Leftist na akala mo ay wala silang pansariling interest. Mga taong gobyerno at sila Teddy Boy, Satur Ocampo, iisang kulay lang yan! Puro manloloko!

  34. Paeng

    @Louie: At saan mo naman napulot iyang mga impormasyon na iyan na kung ipangalandakan mo ay parang siguradong sigurado ka?

  35. vanna seth

    This is not the first time that we have heard of similar hidden wealth and clinging-to-power stories like this. One thing we fail to see is not only the personalities involved but more importantly, the system. If we follow the correct auditing system, accountability, and transparency, then we do not have to hear things such as this.Is he a stockbroker??

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