New warrants of arrest have been issued against the Yanson 4 in connection with raps filed against them for alleged qualified theft involving more than PHP 803.47 million in corporate funds.
This was disclosed by lawyer Norman Golez, who was joined by the family’s matriarch, Olivia V. Yanson, and her two other children, Leo Rey Yanson and Ginnette Yanson-Dumancas, at a press conference at their private beach resort in Brgy. Bubog, Talisay City, Thursday evening, July 2.
The latest development in the seven-year family dispute was disclosed as they marked the birthday of the late Ricardo Yanson Sr., who co-founded their bus empire with his wife, Olivia.
Both factions have filed multiple suits against each other over the past seven years.
Mindanao Star Bus Transport Inc. (“MSBTI”), led by Leo Rey V. Yanson, filed criminal cases in Pasig City and Bacolod City courts against Roy V. Yanson, Emily V. Yanson, Ma. Lourdes Celina Y. Lopez, and Ricardo V. Yanson Jr., Golez said.
The cases were filed after it was discovered that more than PHP 803.47 million in corporate funds had allegedly been illegally withdrawn from MSBTI’s accounts with the Philippine National Bank (“PNB”) and deposited into the Yanson 4’s personal accounts during the family’s 2019 corporate dispute, Golez said.
The checks were deposited in Bacolod and Pasig, he explained.
The Yanson 4 are said to be out of the country and could not be reached for comment.
Golez noted that the warrants cannot be served until the four are arrested or voluntarily surrender, adding that the cases may meawhile be archived by the Regional Trial Courts.
In February 2020, PNB froze MSBTI’s bank accounts, which then became the subject of an interpleader case before the Regional Trial Court of Bacolod City. However, on July 14, 2025, following the court’s recognition of Leo Rey’s group as the lawful Board of MSBTI, PNB finally allowed his group to access MSBTI’s accounts, Golez said.
It was then that MSBTI discovered that PHP 803.47 million of its corporate funds were taken by the Yanson 4, he added.
The funds were withdrawn from MSBTI’s accounts and deposited into the Yanson 4’s personal accounts during the height of the corporate dispute within the Yanson family in 2019, Golez said.
The Office of the City Prosecutor of Pasig City and the Department of Justice, acting as prosecutor for criminal cases filed in Bacolod City involving the Yanson 4, found prima facie evidence with reasonable certainty of conviction to indict the Yanson 4 for the crime of Qualified Theft, a non-bailable offense, Golez said.
Nine informations were filed with the Regional Trial Court of Bacolod City, while three informations were filed with the Regional Trial Court of Pasig City, he added.
“To date, 12 new warrants of arrest have been issued and remain outstanding against the Yanson 4, who remain at large,” Golez said.
Olivia Yanson said she will leave the cases against her four children up to the courts to decide.
Ginnette and Leo Rey said they will follow whatever their mother decides on how to proceed.
Olivia Yanson said early on, she went to the houses of her four children to try to resolve their family problem, but they did not want to do so, which is why she has decided to leave matters to the courts to decide.
His mother did that for almost two months, and when they would not respond, he advised her to get a lawyer, Leo Rey said.
“This is our mother’s company and we just work for her, so the decision is up to her,” Leo Rey said.
Ginnette said her four siblings should agree as one on a compromise agreement to present to their mother if they want to reach a settlement with her.
“But first and foremost, before anything, they should ask for forgiveness from our mother,” she added.
Ever since, the Y3 has been open to a settlement, Ginnette said.
There were nine attempts for settlements early on, but the Yanson 4 disregarded them, she said.
“I have forgiven them a long, long time ago, but I will follow whatever mommy’s decision is,” Ginnette said.
Ginnette said as they marked the birthday of their father on Thursday, she hopes her siblings will remember that he and their mother worked to make their bus company what it has become.
She also pointed out that it was Leo Rey who was chosen by their father to manage the company, “so for me, Leo Rey is the legacy with the wisdom of daddy and mommy who chose him”.*
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