As of 2007, Andrew Tan was ranked number four in the list of the Philippines top 40 richest men. His fortune came from the restructuring of the holding company Alliance Global and his shareholdings in Megaworld, and McDonald’s among other companies. The son of a factory worker who had to walk to campus because he could not afford the bus fare, he certainly can now buy bus companies by the tens of dozens with his estimated net worth of more than US$ 1.1billion. Empire East Land Holdings is one of the many developer companies under Megaworld conglomerate.
Some years ago, the Phillpine Daily Inquirer called Tan a "silent billionaire" in its business feature about him. But for the thousands of OFW families, middle income earners, and foreigner families duped into buying the substandard earthquake and flood prone tenement buildings at the price of a condo, Tan should NOT be silent about where he got his millions!
For a son of a factory worker, he should be the first person to understand how hard-earned money goes into the hands of the poor, the middle class, and the OFW families. But he didn't care, his companies still sucked the money from the their victims and until now, devices more ways to suck more.
Maybe its karma, because Andew Tan was included in the first plunder case against former president Gloria Macapagal Arroyo for the anomalous sale of the old Iloilo airport property in 2007.
His friendship with Arroyo only tells us how he used his connections to continually cheat the people.
The scam at Cambridge in Cainta have hurt so many people and their families. And they are still hurting up to now.
On October 14, a month after the cease and desist order of the HLURB was issued for the 6th time, since 2005, Empire East still has the gall to sell the units and tell the people that they will get their title after their full payment.
They are not allowed by law to sell anymore! And there is and will never be a title issued to the unit owners because Empire East has no proof of ownership of the earthquake prone and floodgates land where Cambridge is sitting on.
A disaster waiting to happen, with more people at risk, Cambridge could be hit hard with its substandard structures built only for 4-storey buildings but in reality are up to 10 storeys high.
This anomaly has to stop. And Andrew Tan should return the people's money instead of sitting on it.
Gumby on October 7, 2011 at 11:16 am said:
ReplyDeleteI do not understand how a company (Megaworld/Empire East) that has been issued so many cease and desist orders by the HLURB can be permitted to continue not only developing/building, but can also continue to cheat the good people of the Philippines out of their hard earned money. Below is a list of active cease and desist orders issued against megaworld/empire east developments and the date they were issued: 101 Newport BLVD 8/11/11, 150 New Port Blvd 10/27/10, Cambridge Village 04/26/06, 10/08/09; 07/22/11; 07/22/11; 07/22/11; 07/22/11 (That is not a typo, they had four CDO’s issued for the same day) and 09/14/11, Casa Rio 06/26/07, Eight Forbes Town Road 08/20/08, Forbes Town Center 02/08/07, Greenbelt Hamilton 08/03/11, Manhattan Heights 10/19/10, One Uptown Residence 09/22/11, Pine Crest 09/06/07, Pioneer Woodlands 06/17/10, Sarasota 09/19/06, Suntrust Parkview 08/11/11, The Olympian 02/08/07, The Rochester 11/24/10, The Venice Luxury Residences 03/18/10, Three Central 05/26/11, Viceroy (MH) 08/03/11 and Xavier Hills Tower One 05/04/06. That is a more than 20 Cease and Desist Orders issued to Megaworld/Empire East for different developments. Totally Unacceptable. DO the right thing Mr Tan and give us back our money!!!!!
This link leads to the master list of active CDO’s issued by the HLURB
http://hlurb.gov.ph/uploads/license-sell/projects-with-cdo/CDOENCR.htm
wildimeanit on October 12, 2011 at 2:14 pm said:
ReplyDeleteWill i tell why, because he own everythings here and no body can stop him, he is the law and he is above the law, so what u can do.
From reading all those CDO what more we can talk, i belive those CDO are not legal, there fore he is above the law.As we can say we have only our prayer, hope that one day he will awake !!!!!!!!!!!!!!!!!!!!!! and will tell his sheep to stop taken money from the people.
We have old saying born hungry all his life will be hungry ……that button .