Push Admin

Quiboloy is ultimate beneficial owner of SMNI: lawmaker

Article (news)

ABS-CBN News

<figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2901251" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>The House of Representatives committee on legislative franchises is set to invite Davao-based Pastor Apollo Quiboloy to its inquiry on Sonshine Media Network International&#x27;s alleged franchise violations, saying the pastor is the &quot;ultimate beneficial owner&quot; of SMNI, a lawmaker said Thursday. Committee chairman Gustavo Tambunting said Quiboloy turned down an invitation to appear in the last House hearing because he was sick and &quot;because he is not an officer of SMNI.&quot; &quot;The position of the committee is that &#x27;you’re the ultimate beneficial owner (of SMNI). Therefore you should also be called,&#x27;&quot; he told TeleRadyo Serbisyo. He added that even the Securities and Exchange Commission agrees that Quiboloy is the ulltimate beneficiary of SMNI.&quot;Siya po ang tunay na makikinabang doon sa programang ‘yun. Naka-layering ka eh, kumbaga may mga kumpanya pero makikita mo pa rin kung sino talaga ang makikinabang. Siya po talaga,&quot; he said. &quot;Marami pong kumpanya, meron pang sole corporation papasok, kami may-ari. Pero pag in-analyze mo ay ang ultimate beneficiary - pwede silang maglagay nang ibang pangalan - pero makikita mo kung sino talaga ang tunay na may-ari e tine-trace back &#x27;yun. Even SEC agrees that the ultimate beneficial owner would be also Pastor Quiboloy. Kung titignan mo ‘yung mga shell holdings ng mga kumpanya kasi biro mo yung actual corporation tapos meron siyang individual shares, tapos may shares yung iba, pero pag ipinagsuma-suma mo, ang majority pa rin ay si Pastor Quiboloy. &#x27;Yun ang findings ng committee and that will be clearer in the coming hearings.&quot;Mark Tolentino, legal counsel and officer of SMNI, earlier told congressmen that Swara Sug Media Corporation of the Philippines, also known as Sonshine Media Network Inc., is not owned by Davao-based religious group leader Apollo C. Quiboloy.&quot;He&#x27;s not part of the corporate officers. He&#x27;s just a blocktimer of SMNI. We consider him as a honorary chairman but he&#x27;s not part of the corporate officers, his name is not part of the corporate papers. He&#x27;s not a stockholder of SMNI or Swara Sug Media Corporation,&quot; he said. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/11/30/23/smni-official-says-quiboloy-doesnt-own-media-network">SMNI official says Quiboloy doesn&#x27;t own media network</a></li></ul>Quiboloy&#x27;s lawyer Ferdie Topacio earlier said Quiboloy&#x27;s position in SMNI is merely &quot;honorary&quot;, saying the pastor is not involved in the day to day operations of the broadcaster.<figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2899066" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div><div>BILL SEEKS TO REVOKE SMNI FRANCHISE</div>The committee on legislative franchises is set to hear in January House Bill 9710 seeking to revoke the franchise of Swara Sug Media Corporation, which operates under the business name SMNI. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/12/12/23/lawmaker-wants-smni-franchise-revoked">Lawmaker wants SMNI franchise revoked</a></li></ul>In his explanatory note, 1Rider Party List Rep. Ramon Rodrigo Gutierrez said the House Committee on Legislative Franchises found that SMNI violated various provisions of its own franchise.Gutierrez added that SMNI changed its corporate structure that affected its ownership without prior approval by Congress as required.&quot;In 2006, it transitioned from being non-stock, non-profit corporation to a corporation sole under Pastor Apollo Quiboloy. However, in 2023, the Executive Pastor changed hands anew as Apollo Quiboloy was replaced by one Bro. Marlon Acobo in the corporation sole,&quot; Gutierrez said in his explanatory note.Another alleged violation was failure to disperse at least 30% of its ownership to the public, which is also a requirement of the franchise.SMNI’s legal officer Mark Tolentino, however, denied these allegations.“Walang violation. ‘Yon ang allegation nila so kailangan nilang iprove yan... We believe that there is no intentional false information… Certain inaccuracy still protected by the freedom of the press and the freedom of expression,” he said. Tambunting said all SMNI officers, including Quiboloy, will be invited to the hearing in January. He earlier told reporters the House could subpoena Quiboloy if he refuses to appear before the committee. &quot;We can subpoena if needed. Maybe during the process of the hearing of the bill then that’s the time we will ask for his presence,&quot; he said. He added the committee will also tackle the allegations of sex trafficking and abuse against Quiboloy after the Makabayan bloc filed House Resolution 644 seeking an investigation into the allegations. &quot;Trafficking will also be discussed in the SMNI franchise, that’s also a bill referred to the committee,&quot; he said.SMNI’s lawyer Mark Tolentino, however, said the issue does not fall within the jurisdiction of the House Committee on Legislative Franchises.“Irrelevant ‘yun. Kasi wala naman silang jurisdiction about that. Ang jurisdiction ng franchise committee is only related sa franchise... ‘Pag ginawa nila ‘yan another grave abuse of discretion,” Tolentino explained.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/12/13/23/house-panel-to-tackle-bill-seeking-to-revoke-smni-franchise-in-january">House panel to tackle bill seeking to revoke SMNI franchise in January</a></li></ul>Even SEC agreesHouse can compel Quioloy to attend the hearing?Definitely on the discussion of the bill, we will have to call on Pastor Quiboloy Yes, we can, definitely we will call him again or the directors of SMNI in the future hearing on the bill on the revocation of the franchise.

House Bill 9710 says SMNI in 2006 transitioned from being a non-stock, non-profit corporation to a corporation sole under Pastor Apollo Quiboloy. 