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Graft raps vs Psalm execs

By: - Reporter / @MRamosINQ
/ 04:04 AM March 15, 2015

MANILA, Philippines—The Office of the Ombudsman has filed graft charges with the Sandiganbayan against five officials of state-owned Power Sector Asset and Liabilities Management (Psalm) in connection with the alleged anomalous sale and disposal of waste oil worth more than P35 million in 2012.

Named respondents for violation of Republic Act No. 3019, or the Anti-Graft and Corrupt Practices Act, were Psalm Asset Operations Monitoring and Maintenance Department (AOMMD) manager Rico Valdellon, Asset Valuation Department manager Lorenzo Jacinto and AOMMD division manager Jacinto Ilagan.

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Also included in the complaint were Don Thed Ramirez and Renato Vehemente of the Financial Valuation and Tariff Division.

The five were all members of the Psalm bids and awards committee created to oversee the bidding for the disposal of waste oil of power plants managed by the state-run company.

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Ombudsman prosecutor Joseph Menzon said the accused awarded the contract to the joint venture of Genetron International Company, Atomillion Corp. and Safeco Environmental Services Inc. for the sale and disposal of waste oil from the Sucat Thermal Power Plant.

This despite the fact that the joint venture had been declared a disqualified bidder for the project, Menzon said.

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TAGS: Don Thed Ramirez, Financial Valuation and Tariff Division, Office of the Ombudsman, Power Sector Asset and Liabilities Management, PSALM, Renato Vehemente, Sandiganbayan
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