OLIVIA Yanson, matriarch of the Yanson family, accused her daughter, Celina Yanson-Lopez, of diverting the issue over the missing P380 million funds of the Vallacar Transit Inc. (VTI).
In a statement, Olivia said an existing independent third-party SGV audit report revealed Celina has at least P380 million unaccounted advances/liabilities to the company.
The Yanson matriarch pointed out that Celina has not rebutted the independent SGV report.
"When this anomaly happened, she did not even call for a meeting and let her staff explain in writing why they kept on transferring funds several times for the same transaction," Olivia said.
Since Celina is the chief finance officer of the company, it is her duty that whatever money she sent to the branches is properly liquidated, she said.
Olivia also said that after finding out the anomaly, Celina did not bother to explain why her department is funding the same, with supporting documents or bogus transactions.
She pointed out when the SGV was conducting the audit, Celina allegedly instructed the accounting department not to cooperate and participate.
Last week, Celina urged her mother to tell the truth about the funds.
Celina said everyone knows who was responsible for the alleged unliquidated funds.
She pointed out that the matter originated last year, which she believes "precipitated the break between the 'Yanson majority' and her mother."
"My mother got mad at me, together with the three of us Ricky, Roy, and Emily because we wanted the guy responsible for these illicit withdrawals from the Manila Purchasing Office (MPO) to be criminally charged and sent to jail," she explained. "When we discovered that this person was the one who orchestrated this big mess in cahoots with another, a lady cashier, the board wanted their heads."
Ricky Yanson appealed to Olivia to honor her commitment to his sibling, Emily Yanson, to allow the use of VTI bus terminals for Ceres Mart.
Ricky said in a statement that he plans to visit his mother and raise the issue before her for the sake of his sibling Emily, who is burdened by the sudden development.
"Emily was deeply hurt by my mother's actions. As a sign of respect, Emily relented to our mother's demands despite knowing that her mother does not have a legal right to do so since she does not have any shares in the company," Ricky said.
"Right now, Emily is seriously concerned about how to take care of the displaced 200 workers due to the precipitate and unilateral decision of OVY (Olivia Yanson)," he added.
Ceres Mart is a business entity owned by Emily, who was allowed in a Yanson family meeting in April 2017 to use the retail spaces rent free for her confectionary and pasalubong business until 2022 .
Most of Emily's retail outlets are located inside VTI terminals.
At the height of the Yanson family feud, Olivia sent letters to Emily asking her to vacate the premises using her status as clan matriarch as basis for the demand. She also directed terminal guards to enforce her demand.
A check with the Securities and Exchange Commission (SEC) revealed that Olivia Yanson does not have any shares of stock in VTI and even with any of the Yanson Group of Bus Companies.
Hence, Ricky said, she does not have any voting right or interests with the company which she claims to co-own.
News reports recently quote Olivia asking the Yanson Four to respect her and give her three voting rights, despite the fact that she does not own any shareholdings in Vallacar.
In a Shareholder's Agreement, Olivia reportedly signed and assigned her rights and shares to her children in 2013 during the time her husband, Ricardo, was still alive.
Ricardo died in 2015 and her shares were passed on to her children in accordance with the agreement.