Speaking through their lawyer, Oliveros Kintanar, the Lim brothers said they are saddened by the accusations made by the mayor which they said are not based on facts.
Dy used to work for the brothers but got estranged when he testified against them in a congressional hearing on illegal drugs back in 2001.
Kintanar said he respects the opinion of Osmeña but said it was all speculation without a shred of evidence.
"Bunga lang na sa speculation and speculation has no place in our law," Kintanar said.
Osmeña pointed to Peter Lim, without evidence to support his accusation, as the primary suspect in the killing of Dy last Saturday evening. The mayor said that Lim is the only one who has a motivation having been accused by the victim in a congressional investigation as "drug lord."
Peter Lim, who was interviewed by Banat News said, "we respect the statement of Mayor Tomas Osmeña that implicates us as the suspects of Ananias Dy's death, because as a mayor, he's just doing his job and concerned on what had happened in the city."
Lim denied any involvement in the case and urged the authorities to dig deeper in their investigation.
Kintanar said that his clients are very much willing to cooperate with the police in the investigation into Dy's murder adding that their office is always open.
The lawyer explained that his clients would not be going to the police just to clear their names, because they have already learned a lesson from these invitations during the 2001 congressional hearing.
Rep. Antonio Cuenco, the chairman of the House Committee on Dangerous Drugs, reportedly invited the brothers to be resource speakers in the inquiry ive years ago, but when they appeared, they were treated as suspects and asked incriminating questions.
The police however said that they have no basis to invite the Lim brothers.
Gayotin also said that there is no pressure from any politician or influential person for the police to tag anybody as a suspect.
The police are looking into various angles including money, personal grudges, and Dy's participation as witness in the congressional hearing.
Supt. Pablo Labra II, chief of the Criminal Investigation and Investigation Branch (CIIB) of the Cebu City Police said that they are also looking into the marital problem of Dy.
Dy and his wife have pending annulment case in court. Police authorities are trying to check whether there were heated arguments with Dy and the relatives of his estranged wife.
"All angles ato na i consider," Labra said.
Gayotin explained that personal grudges may be involved in the case, but they will have to validate any information that they can get hold off and are digging all possible angles at this point.
A man claiming to be an acquaintance of Dy, told Banat News on the condition of anonymity that the police should also look into the possibility of gambling in cockfighting, which Dy is allegedly an aficionado aside from drugs.
Labra pointed out that the NBI has been assisting them in the investigation.
Last Monday, the CCPO released the cartographic sketch of the alleged killer of Dy. The sketch was based on the testimony of two witnesses.
The shooter was described to be about 5"3 to 5'4 tall with a stocky build, sporting a brushed up haircut and armed with a cal. .45 pistol.
A homicide investigator, who refused to be named, said that they have at least two witnesses who expressed their willingness to execute an affidavit if the gunman is arrested and they positively identify him.
Dy was shot five times with two bullets piercing his heart, according to the autopsy report.
A 12-year-old girl who was in the area was also hit by a stray bullet and suffered a leg wound. The police believe that there are many witnesses who saw the shooting but could force them to testify for fear of their safety. - with Edwin Ian Melecio and Bong Soriano