Mr. Estrada threatened to hail to court Yasay for saying that the Chief Executive pocketed P1 billion from the sale of the Philippine Long Distance Telephone Co. to Metro Pacific of Hong Kong and another P800 million from the sale of Best World Resources (BWRC).
Best World, a gaming firm whose majority owner is the President’s buddy Dante Tan, figured in a share price fixing scandal last year which rocked the securities market. Yasay also claimed Mr. Estrada tried to intervene for Tan who was accused of insider trading.
In an interview with radio station dzRH yesterday, Mr. Estrada blew his top regarding Yasay’s latest allegations that he had profited from the sale of PLDT to Metro Pacific brokered by another presidential friend, Mark Jimenez.
"Talagang malaki na ang sira ng ulo niyan. Alam mo gustong kakandidato Senador iyan kaya lahat sinasamantala (He’s really gone crazy. He wants to run for the Senate, that’s why he’s taking advantage of this)," the President said.
"I will charge him with libel. He has gone overboard. And he is defenseless here," Mr. Estrada said. He added that the top executives of PLDT have denied Yasay’s claims.
"Not one cent did I earn from that PLDT transaction," he swore. "I did not become President to become corrupt. This is our last public service to our people, will I do such things?"
The President charged anew Yasay of being a "corrupt" government official who was convicted and suspended for six months by the Ombudsman while serving as SEC chairman.
He recalled how Yasay, "in connivance" with Sen. Raul Roco, chairman of the Senate committee on banks and financial institutions, made it appear during a "set-up" Senate hearing at the Philippine Stock Exchange (PSE) last year that Mr. Estrada had ordered Yasay to clear Tan on the BWRC insider trading scandal.
On the other hand, the President accused Yasay of trying to shake down Tan because the former SEC chairman was looking into the trading irregularity before passing the task on to the PSE.
"You can see through his lies. That is one of the reasons why foreign investors were scared away," the President said, noting how Yasay was again engaged in the latest disinformation campaign with his cohorts.
"You can see how in their obvious attempts to fool the people, we are the ones hurt and suffering. What they’re doing is a big disservice to our country," he said.
Mr. Estrada said he learned his bitter lessons in this episode with Yasay, whom he charged with making up stories.
This was why, he said, he rejected the request of his erstwhile drinking buddy governor Luis Singson to call up Commission on Audit chairman Celso Gangan to remove the provincial auditor who discovered the P2 billion fund disbursement anomalies in Ilocos Sur.–Marichu Villanueva