Find out Andy Bautista’s BFF who ran away with their Ateneo classmates’ money
Commission on Elections Chair Andy Bautista has referred to a mystery guy a pyramid scheme to partly explain allegations made by his estranged wife, Tish, that he has 35 pass books in Luzon Development Bank with over P300 million in total deposits.
“People know that there were investments made by my family with FOREX and again this is a problem now, like a pyramid scheme, all of this will be explained in due time,” said Bautista in an interview with ANC’s Karen Davila.
Bautista was referring to the series of money transfers from BDO’s branch at Fort Bonifacio to Luzon Bank’s branch in the same business district. Bautista, however, did not identify the person behind the pyramid scheme.
But a Bilyonaryo source identified the mystery guy as no other than Bautista’s BFF and Ateneo classmate, Joey Perry.
Perry is one of two consultants hired by Bautista (the other one is Howard Vitas) when he was commissioner of the Presidential Commission on Good Government (PCGG).
Perry reportedly lured Bautista and the rest of their batchmates at Ateneo High School Section 4-A Class 1982 to part with close to P2 billion of their life savings with a promise of hefty returns in a pyramiding scheme. One classmate said that Perry vanished after getting all their money.
Interestingly, Luzon Bank is owned by the family of Bautista’s Ateneo classmate, Rene “Timmy” K. Limcaoco, who was appointed Undersecrtary during the term of then Transportation Secretary Mar Roxas.
In a separate interview with Davila, Tish had a different take on her husband’s funds in Luzon Bank.
Tish claimed that the money was part of a lending scheme by Bautista allegedly in cahoots with BDO’s Fort Bonifacio branch manager. Tish said she found check deposits of P500,000 made every day from BDO to Bautista’s Luzon Bank accounts starting in 2014..
“Instead of taking a loan from BDO, this manager made them borrow money from Andy. So instead of getting loan from bank (BDO), Andy was lender. This is from what was in the paper promissory notes,” said Tish.
Bautista, however, has denied Tish’s allegations.