Retired Chief Supt. Vicente Loot was one of the five generals who coddles drug, mentioned by President Rodrigo "Digong" Duterte during 69th Air force anniversary and currently the mayor of Daanbantayan, Northern Cebu was said to be one of the richest police officers in the Philippine National Police (PNP) with a net worth of more than P100 million.
Where did he get it?
Loot explained that his properties were acquired through bank loans and other “legal means.”
Some of his assets:
- House in Daanbantayan, Cebu
- 18 houses mostly in Mandaue City, Cebu (for rent)
- cockpit arena
- 5 luxury vehicles.
Loot said he was still trying to reach and set an appointment with Duterte and PNP Director General Ronald dela Rosa so he could explain his side well.
Loot explained, that since before they got married, his wife already acquired LOTS in Mandaue City at the cost of P200 per square meter. Today, the value of the property they had reached to P10,000 per square meters.
Through their lots, they built houses with the help of bank loans and make it as their business by house for rent.
Loot also credited his wife, whom he described as a good businesswoman who was also engaged in sale of pieces of jewelry.
When Loot and his wife Maria Luisa has joint their Statement of Assets, Liabilities and Net-worth (SALN), there's a time when he was declared the richest police official in the PNP while his wife was tagged as Cebu’s richest town mayor since their Statement of Assets, Liabilities and Networth (SALN) was joint.
In 2009, Loot declared his SALN net worth of P106.7 million.
His declared assets:
- P101.3 million from real property or parcels of lands;
- P8.3 million for vehicles
- P6 million for jewelries
- P2 million for furnitures
- P900,000 investments in insurance and stocks.
Loot’s liabilities has reached to P11.8 million, mostly loans and stated in his SALN four companies which the family owns: Eigado Real Estate, Eigado Lending, Gallera De Mandaue Cockpit, and Sabungan Canteen, all located in Mandaue City, Cebu.
Loot also stated that despite the issue his facing now, he has no plans of stepping down on his position.
“If the allegations raised against me were related to my present post, I would resign,” he said. “But these charges are not related to my job now which is to protect the people who are oppressed and abused," Loot explained.
Loot also claimed that his name had been used by people who are involved in illegal drugs.
Loot reiterated that the accusations could be part of black propaganda especially that his family was in politics. His wife, was mayor of Daanbantayan of several years while his stepson, Sun Shimura, is now a provincial board member.
In a interview with Inquirer Visayas, Loot said “My name is very vulnerable especially that I run a cockpit arena which is sometimes patronized by drug pushers."
Loot also admitted that the profits he gained from his cockpit arena enabled him to acquire and buy more properties.
[button size="medium" url="" text="Source" target="" color="blue" ] [button size="medium" url=" newsinfo.inquirer.net/794683/loot-explains-how-he-got-rich-diaz-colleagues-shocked" text="inquirer" text="inquirer" target="" color="green-tosca" ]