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Tonyboy Floirendo convicted of graft, sentenced to 8 years imprisonment

The Sandiganbayan found Antonio “Tonyboy” Floirendo guilty of graft for his involvement in an allegedly anomalous deal between his family’s banana firm Tagum Agricultural Development Co. (Tadeco) and the government.

According to the anti-graft court’s decision, Floirendo – former Davao Del Norte congressman, was sentenced to imprisonment of six years to eight years over Tadeco’s land lease agreement with the Bureau of Corrections

“The prosecution proved that the accused had indirect financial interest in the 2003 joint venture agreement during his term of office as the representative of the 2nd district of Davao del Norte,” the court said, pointing out that Floirendo owned 75,000 shares in TADECO.

“Merely being directly or indirectly interested financially in a contract with the government or any subdivision, agency, or instrumentality thereof, during the representative’s term of office, is prohibited,” the justices added.

However, Floirendo found an ally in Associate Justice Kevin Narce Vivero, who said that Floirendo’s shares in TADECO accounted for just 0.89% of total equity, not enough to exert influence over the TADECO-BuCor deal.

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