Source: INC Silent No More
Finally… the proof that everyone has been waiting for is here. The infamous documents that will prove what I have been saying all along. No more Abangan… The time has finally come.
But before that…, do allow me a moment to gloat. After all, I got bashed a lot for my FB posts. Some even went all out and created an entire blog site in my honor! On and on they went and called me names, really vicious names. In the future, make sure “liar” ain’t one of them, eh? Ref. https://youtu.be/KltsajVjgDA
Access the Truth, Iglesia ni Cristo blogspot, OWE ministers and followers, did you really think I was just bluffing? Why did you think no one took me up on my challenge? I could wait for that elusive bank waiver until I grow roots and it still wouldn’t come. Know why? Because the loans are real, as everyone else will see now. I can tell you who didn’t think of my jabs in FB as bluff – the people who took out the loans themselves! Come on, people… You know who you are. I was holding out, waiting for you to come to your senses to avoid this embarrassment. But you chose to keep silent. You chose to ignore. And now, my patience has run out.
In all seriousness, my findings did not make me happy. Actually, I almost felt sick reading these loan documents. I felt as though the Administration has sold the very soul of the Church. They knew what they have done, yet they continued to deny, mislead, and deceive the brethren. Do they think they could take their secrets to their grave? Do they think they could hide them from God? In a verse read during a recent lesson where they try to intimidate the thinking voters who plan to silently express their defiance of the “sold” bloc vote on Election Day, it says:
Read on and let’s confirm to whom this verse really applies.
Evidence of Church Properties Used as Collateral
These are but a small sample among the hundreds of properties owned by “Iglesia ni Cristo” which were used as collateral for loans with Metrobank and AUB. In particular, the ones shown below are among a very long list of properties used to secure an ADDITIONAL P3 BILLION LOAN with Metrobank and an ADDITIONAL P2 BILLION LOAN with AUB. Remember the word “ADDITIONAL” because that’s significant and I will get back to that later.
Let’s study the first one.
- TCT RT-113559
Take note that this property was purchased during the time of God’s Last Messenger, Bro. Felix Y. Manalo back in 1944 and preserved by his successor, Bro. Erano G. Manalo. The property is now worth close to P10 million! Under the Administration of the current Executive Minister, Bro. Eduardo V. Manalo, this property, along with many others, are at risk of foreclosure if obligations under the loans with Metrobank and AUB secured by this property are not paid in full and on time by INC!
This is the Encumbrances Page on this property.
Let‘s take a closer look. Here’s the top portion of the Encumbrances Page:
This tells us this property was used to guarantee a principal obligation for THREE BILLION PESOS (P3,000,000,000) with METROPOLITAN BANK & TRUST COMPANY and that this is based on a loan agreement called Second Amendment to Omnibus Loan and Security Agreement among 6 parties:
- Maligaya Development Corporation,
- Metropolitan Bank & Trust Company,
- Iglesia ni Cristo,
- Felix Manalo Foundation, Inc.,
- New Era University
- Metropolitan Bank & Trust Company – Trust Banking Group.“THREE BILLION?! Why did we need so much money? What about our offerings? Why did we have to borrow money? We never did that before! Why are so many companies involved in the loan? Why did we have to mortgage this and other properties?”