Swindlers, Malabon execs tagged in businessman's slay

MANILA, Philippines - A Mandaluyong City businessman’s murder was allegedly masterminded by con artists working with Malabon city hall officials, police insiders said yesterday.

Sources said Michael Buquid Jr., manager of 20th Pharma Trade in Mandaluyong City, was “silenced” last July 20 after his “business partners” used him to swindle his friend – a Valenzuela businesswoman, who requested anonymity – of P16.5 million. She said she fears for her life.

Buquid was about to enter his black Toyota Vios (XRD-337) in front of a restaurant in Malabon City at around noon on July 20 when he was shot dead by two gunmen on motorcycles.

“The victim, based on the recovered documents, had just withdrawn a total of P1.2 million from a bank but the gunmen did not get anything from him,” the police official said. The money is missing.

In the first week of June, Buquid and two of his women business partners met with his friend to discuss a P49-million medical supply contract with a government hospital. To “corner” the deal, the group told the businesswoman they must bribe “influential” people in the Malabon City government, another source said.

After several meetings, she gave them P8 million as initial funding for a joint venture to handle the medical supply contract.

A few days later, Buquid and his partners asked for another P8.5 million, showing Buquid’s friend a forged government contract awarded to 20th Pharma Trade. They also showed her an “official” purchase order. The businesswoman shelled out the money.

When she found out her friend was murdered, she approached the victim’s business partners to inquire about the joint venture. The partners have denied being involved in any joint venture with Buquid, she said.

Malabon police investigators have turned over the probe to the National Bureau of Investigation. after the victim’s family asked the NBI to step in. According to the source, the owner of the gun used in killing Buquid was already identified by the NBI.