Businessman Mariano Uy intensifies his campaign for reforms at the Bohol Wisdom School Inc. (BWSI) alleging "there is a rampant misuse of corporate funds" by its board of trustees (BOT).

MARIANO UY

According to Uy, he possess evidence that BWSI funds amounting to millions were deposited in different personal accounts of some BOT members' personal accounts including that of their non-member spouses contrary to corporate policy. Interest earned from these accounts should accrue to corporate coffers and not to their personal bank accounts, Uy said. He vowed to let these individuals "answer for their misdeeds" and "reveal their names to the public at the proper time." Records allegedly acquired by Uy revealed that there was an instance that the board approved a P2 million double-your-money in five years deposit scheme but

Corporate records also reveal that the alleged board members, including acting BOT chair Dr. Simplicio Yap, are not even benefactors of BWSI while non-member spouses interfere on corporate matters, school activities and even actively participate during board meetings.

Uy, who served as board chair, said the statements made by Yap in another weekly is misleading when he named seven Filipino-Chinese businessmen who doled out contributions such as Frederick Ong, Albert Uy and Marlito Uy at P200,000 each while the late Alfonso Uy, Dr. Yap, Jose Ong and John Yap at P100,000 each.

The list is not entirely accurate, Uy commented, as the same should have specified that the contribution of Frederick Ong was under the name of Bohol Quality Corporation, that of Albert Uy under the name People's Lumber Corp., that of Marlito Uy was under the name of Alturas Supermarket Corporation, and the one from the late Alfonso Uy was tendered in the name of UTC Group of Companies.

"The financial contributions made by the seven Filipino-Chinese businessmen enumerated by Yap were used to purchase a parcel of land owned by the Garcia's (where the present BWS is located) but these can never be considered as the corresponding shares of each since BWSI is a non-stock educational institution," Uy stated.

Uy further revealed that his late elder brother, Alfonso Uy, proposed that a refund of P100,000 be made only to those who contributed P200,000 each (Bohol Quality, People's Lumber and Alturas) and those who gave P100,000 be considered to have donated the same for the school.

Despite the proposal, Yap and businessman Jose Ong demanded for the reimbursement of their respective contributions, he recalled.

As a result, the remaining contributors of BWSI are only Bohol Quality, People's Lumber, Alturas and UTC Group at P100,000 each.

Uy claims that his brother Alfonso, gave BWSI a name and solicited funds from outside sources. Uy said he was one of those who contributed, he gave over P200,000 sometime in the late 80's when the construction of the present BWS was still ongoing - making him the biggest contributor.

"Equally perplexing is the fact that the present set-up of BWSI is the finance officer is at the same time the internal auditor of the school who reports directly to the corporate treasurer only and not to the board," Uy observed.

BWSI is composed of Filipino-Chinese businessmen in the city and has been in existence for the past two decades.