The Department of Justice today dismissed the carnapping charges filed against the Yanson Four siblings, majority owners of the country’s biggest bus company, Ceres Transportation and Vallacar Transit Incorporated by their own mother.
Assistant State prosecutor Eric Opriasa says the case was “dismissed for insufficiency of evidence.”
The case stemmed from the alleged disappearance of several vehicles inside the company compound owned by the Yansons, specifically the accused four–Roy, Ricky, Celina and Emily– who holds majority shares of the company now in dispute. Said VTI vehicles were parked at the Dynamic Builders, a company owned by the accused. Drivers of the said vehicles testified that they parked the buses voluntarily and without coercion.
Called the Yanson Four, the accused hold majority shares of the company now being disputed by their youngest sibling, Leo Rey, who lost the presidency of the company last 2019 but regained it thru forced takeover of company offices in Bacolod City and Dumaguete City.
Leo Rey sits as company president, being backed by his mother Olivia, who reportedly does not own any shares of stock of VTI but wants to get hold of some.
VTI has a fleet of 4,800 buses and over 18,000 employees, making it the biggest bus company in South-East Asia, plying the Visayas and Mindanao routes.