No takers for Boracay mansion

MANILA, Philippines - Not a single bidder showed up at yesterday’s public auction of the P142.9-million “Boracay mansion” of former president Joseph Estrada.

The Sandiganbayan’s Security and Sheriff Services Office chief Edgardo Urieta closed the bidding at 2 p.m. after waiting for more than four hours.

 “We will report to the court and the properties will be turned over to the national treasury,” he told reporters yesterday.

Urieta refused to speculate as to why no bidders came, and said the anti-graft court might schedule another auction date if it sees reason to do so.

The Boracay mansion, once a luxurious property, is now decrepit and decaying.

Located in New Manila, Quezon City, it is part of Estrada’s unexplained wealth exposed at the height of impeachment proceedings against him in 2000.

Estrada was ousted in a “people power” revolt in January 2001 amid allegations of massive corruption.

He was found guilty of plunder and given a life sentence in September 2007 but pardoned by President Arroyo a month later.

This year, Estrada is attempting a comeback by running in the May presidential elections.

QC gov’t claims ownership

 Meanwhile, Quezon City chief legal officer Christian Valencia and two other representatives of City Hall’s Law and Litigation Division tried to stop the Sheriff’s Office from proceeding with the sale of one of the lots where the Boracay mansion stands. 

They insisted that St. Peter Holdings Inc., the declared owner of one of the lots covering 5,192.88 square meters of land, owes the city government around P1.7 million in unpaid real property taxes.

Valencia reiterated that Quezon City forfeited the property and is now the rightful owner and thus the Sandiganbayan cannot sell the mansion.

But because the city government failed to secure a restraining order despite their affidavit of third party claim, Urieta proceeded with yesterday’s auction.

Urieta said he sees no reason for anyone not to buy the Boracay mansion since P142.9 million is a low price for the property.

He said interested buyers probably found it difficult to produce such a huge amount in cash since the winning bidder is required to pay for the properties in cash.

Urieta said the Boracay mansion is to his knowledge the most expensive asset to be forfeited and ordered sold by the anti-graft court.

Since he told the media about the scheduled public auction last month and published the same in a major newspaper as required by law, the Sheriff’s Office received numerous inquiries from individuals about the bidding procedure.

Urieta said there were about a dozen persons who manifested interest in buying the Boracay mansion lots but no one actually showed up to bid.

He said the Sheriff’s Office received no calls from Estrada’s representatives, his lawyers, or Estrada himself, who has never admitted owning the property.