TCGCC settles loan to gov't
The Tinian Casino Gaming Control Commission has issued a $100,000 check to Gov. Pedro P. Tenorio recently as part of the agency’s initial payment to its $3.4 million loan.
According to Martin DLG. San Nicolas, chair of TCGCC, the Commission is hoping to make a total payment of $200,000 this year. “As we generate more revenues, we will increase the payment so that we can return the money to the government,” he said.
The controversial loan was the subject of a heated debate in the Legislature during the term of Gov. Froilan C. Tenorio after he released the money without any legislative appropriation.
The money was used primarily to fund the Commission’s operation at that time. As condition for the loan, the Commission had to pay back the Department of Finance in 45 days after the Tinian Dynasty Hotel and Casino’s started its operation. However, the former governor later on denied that there was such an agreement.
“This is our way of showing to the people that we are sincere in paying back the government whatever it is the Commission should return. We want to demonstrate that we are doing our job,” Mr. San Nicolas said.
The newly-elected leader of the Commission is hoping to get back the people’s trust and confidence with its image badly shattered as a result of the financial mess created by former Executive Director Paul Palmer.
Mr. San Nicolas pledged to pursue the development of a casino industry on the island-municipality of Tinian by implementing infrastructure projects.
Federal authorities have launched a manhunt on Mr. Palmer who was indicted for allegedly swindling the gaming commission and an Australian company by creating fictitious companies which maintained bank accounts in the Philippines and Nevada. (LFR)