Luxury cars bought by Pharmally executives exposed in Senate inquiry
Young and inundated with money after allegedly “killing” 11.5 billion pesos in government contracts for pandemic supplies, three senior executives at under-capitalized Pharmally Pharmaceutical Corp. bought brand new luxury vehicles worth 52.9 million pesos with their bargain, according to Senator Richard Gordon.
The most expensive car, a 2021 Lamborghini Urus Blu Astraeus, valued at 25 million pesos, was acquired by Pharmally president and chief executive Twinkle Dargani, Gordon said on Friday when the Senate inquiry resumed on Friday. purchases made by the purchasing department of the Department of Budget and Management (PS-DBM) using at least 42 billion pesos of pandemic response funds from the Ministry of Health (DOH).
Gordon, who is leading the investigation as chairman of the Blue Ribbon Committee, said documents he obtained from the Land Transportation Office (LTO) showed Dargani’s car, which dealers describe as a super utility vehicle sport, had been registered in December of last year.
Dargani’s brother, secretary general and treasurer, Mohit Dargani, registered his red 2021 Porsche 911 Turbo S, worth 8.5 million pesos, in May.
Pharmally manager Linconn Ong, who already owned a white color of the same model in 2019, registered a silver 2021 Porsche Carrera worth around P13.5million in May and another sports car, a Lexus RC F 2021 worth around 5.9 million P. in July.
In your twenties, thirties
“It looks like these people really did murder, allegedly,” Gordon said.
Being only in his 20s and 30s, Gordon said Pharmally executives were already making big sums at such a young age.
“How do you explain that?” He asked.
Of the three Pharmally executives, only Dargani’s brother, who was testifying from the United States by video conference, was questioned about the vehicles during the hearing.
“Is this your only car?” Gordon asked him.
He confirmed that he owns the red Porsche and that he also owns a Toyota Fortuner, a sport utility vehicle.
When asked if he also owns a Ferrari, he replied: “I don’t have a Ferrari. I only have one Porsche 911 Turbo S. It is already for sale.
The biggest piece of deals
The company became the focus of the Senate investigation after winning the largest block of contracts with PS-DBM among a dozen companies that sold pandemic supplies to the government such as masks, test kits COVID-19 and Personal Protective Equipment (PPE) in 2020-2021 when it was only capitalized at 625,000 P in September 2019.
Xuzhou Construction Machinery Group Import and Export Co. Ltd. was far behind with contracts worth 1.9 billion pesos.
In a previous hearing, Senate Minority Leader Franklin Drilon said Pharmally reported zero income in 2019 and reported net income of 264.65 million pesos in 2020 and gross income of 384.04 million. of pesos.
He also said Pharmally’s pandemic supplies were overpriced, a claim fiercely denied by PS-DBM, DOH and Malacañang.
Drilon said Pharmally’s test kits were sold to the government at 1720P each, nearly double the P925 cited by its competitors. His PPE was priced at P1910 per set, more than double the then-prevailing market price of P945, and his masks were P27.72 each, compared to P13.50-17.50 which were available, he said.
Senators learned last week that the company was in financial difficulty and had received an undisclosed loan amount from Michael Yang, a Davao-based Chinese businessman and one of President Duterte’s longtime friends who briefly served as its economic advisor.
Yang testified that he introduced Ong to his “friends” and suppliers in China.
He also admitted to introducing the owners and officers of Pharmally’s parent company, Pharmally International Holding Col. Ltd., to the President in 2017.
Yang became controversial in 2018 after a police officer reported he was involved in drug trafficking. But the president rejected the allegation, saying he had known Yang for 20 years. —WITH A REPORT FROM INQUIER RESEARCH
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