He also denied that government contracts won by Nationstar Development Corporation<\/strong>, which he founded in 2015, were because of his closeness to the family of president Ferdinand Marcos Jr<\/strong>.<\/p>\n\n\n\n \u201cThere is no conflict of interest because under the Anti-Graft and Corrupt Practices Act (RA 3019) and the Code of Conduct of Government Employees (RA 6713), conflict of interest occurs when a public official has direct or indirect financial or pecuniary interest in any business contract or transaction in which they must intervene in their official capacity,\u201d he said.<\/p>\n\n\n\n Tengco added: \u201cFor one, my position as chairman and CEO of PAGCOR has no direct or indirect influence<\/strong> in the awarding of public works contracts to Nationstar. For another, I have fully divested all my interests in Nationstar <\/strong>when I assumed the top PAGCOR post in 2022, thus eliminating any potential conflict of interest. I actually started divesting my holdings to my children in 2019.\u201d<\/p>\n\n\n\n He said that it was for Congress to decide whether there were gaps in the law. Tengco said he entered the construction business in 1996 and founded Nationstar in 2015.<\/p>\n\n\n\n \u201cAs a legitimate business entity, Nationstar has previous and ongoing contracts with both the government and the private sector, including many local government units,\u201d he added. \u201cDuring the time of President Benigno Aquino III and President Rodrigo Duterte, Nationstar executed retrofit and fit-out works based on specifications and with high quality standard at the Malaca\u00f1ang premier guest house and the Presidential Management Staff Building. These projects have established our goodwill or reputation in the industry and thus, the subsequent projects awarded to us.\u201d<\/p>\n\n\n![\"\"](\"https:\/\/focusgn.com\/asia-pacific\/wp-content\/uploads\/sites\/5\/2021\/02\/Thailand-illegal-gambling-operation-raided-300x200.jpg\")
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