PCGG studying documents on alleged misuse of CIIF funds

The Presidential Commission on Good Government (PCGG) is looking into accusations that the president and chief executive officer of CIIF Oil Mills Group, Rolando Golez, has been misusing funds of the Coconut Industry Investment Fund (CIIF).

"We are looking into the case," PCGG Chairman Camilo Sabio said. He declined to comment on the allegations until an investigation had been conducted.

"It’s hard to say," he commented when asked if the accusations contained in a "white paper" sent by unidentified CIIF employees to then PCGG chairwoman Haydee Yorac sometime in April had any basis. Sabio took over the agency last week.

Yorac had sent a letter to Jose Perez, chairman of United Coconut Planters Bank (UCPB), last April to look into the matter of alleged misuse of CIIF funds, which are kept in a bank account.

PCGG Commissioner William Dichoso will head the investigation. He asked the media to "please wait" and refrain from speculating until the probe is over.

"I cannot make any comment on the case until we have gathered all the evidence and check on the veracity of the allegations," he said. "We do not want to speculate."

A panel formed by UPCB is conducting an independent investigation, Dichoso said.

Golez denied allegations he was spending CIIF funds for personal use. His expenses were approved by the CIIF board and his trips here and abroad were all official business, he maintained.

Meanwhile, Malacañang declined to comment on the accusations.

"You should ask the person himself since only he can answer as to how he spent the CIIF funds that we consider trust funds," Press Secretary Ignacio Bunye told reporters. "There should be a proper accounting of those funds." — With Aurea Calica