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Corona wife ‘misappropriated’ family business money

MANILA — Proceeds from the sale of a commercial lot owned by the family of Chief Justice Renato Corona’s wife Cristina ended up in her account, the prosecution told the impeachment court on Thursday.
Private prosecutor Renato Samonte Jr. said the P34.7-million check issued by the Manila City Government as a result of the negotiated sale of the 1,020-square-meter property was deposited in Land Bank of the Philippines-Malacañang branch.
This developed in June 2001 or three months after the deed of absolute sale was executed between the City Government and the Basa-Guidote Enterprises Inc. (BGEI), where Cristina acted as representative of the company courtesy of a notarized letter by now deceased Asuncion Basa Roco and Concepcion Basa.
At the time the supposed deposit was made, Corona was serving as chief of staff to then President Gloria Macapagal-Arroyo in Malacañang.
Lito Atienza, who was then Manila mayor, told the impeachment court Thursday that he is unaware where Cristina put the money, saying she should answer for what will happen with the check entrusted to her being the agent of BGEI.
“She’s the one authorized (by BGEI). I don’t know what happened to the check after the transaction,” he told Senator Franklin Drilon, whom he had a falling out in 2005 over his decision to support Arroyo, then accused of massive poll cheating in 2004.
He said the P34.703-million check “in trust for the Basa-Guidote Enterprises Inc.” was issued to Cristina in a simple ceremony at his office. After this, the deed of absolute sale between the City of Manila and BGEI was executed on March 26, 2001.
He also confirmed that the Chief Justice accompanied his wife Cristina to talk over the sale of the land.
“We immediately took over the BGEI lot after payment was made. Our priority then was to construct emergency market which took two weeks to finish,” he said, adding the sale was never questioned in court.
Asked about the relevance of this development, lead prosecutor Neil Tupas Jr. said Cristina could have “misappropriated” the funds for BGEI.
Worse, Tupas said if the money will be traced in the personal account of Corona, then this should have been reflected in the statement of assets, liabilities and net worth (SALN) of the magistrate.
But an incensed lead defense counsel Serafin Cuevas retorted “there is no evidence to that effect,” especially that the trial has yet to discuss anew the issues surrounding the bank deposits.
Speaking for the prosecution panel, Deputy Majority Leader Romero Frederico “Miro” Quimbo said Corona’s lawyers still need to establish how the money earned by Cristina from the BGEI-property sale ended up in the Chief Justice’s Philippine Savings Bank (PSBank) accounts.
“They need to be able to show the trail how it was deposited to the account of Corona. They need to establish that it’s the same amount deposited to PSBank,” Quimbo told reporters.
To recall, PSBank president Pascual Garcia III told the impeachment court that the Chief Justice closed three of his accounts last December 12, the same day he was impeached by the House of Representatives.
The money, amounting to around P37 million, belongs to BGEI, defense lawyers claim.
Last March 7, Corona admitted in a television interview of owning a dollar account at the PSBank and that he is willing to divulge the content during the course of the trial.
He also confirmed the withdrawal of some P37 million from three accounts at the PSBank-Katipunan branch on the same day he was impeached at the House.
“We have friends saying that the bank is leaking information of our accounts since November, that’s why we decided to withdraw the money. That money is the corporation’s (Basa-Guidote Enterprises Inc.) earnings from the sale of land. That is not just my defense but the truth. I didn’t declare because it’s not mine,” he said.
But Deputy Speaker Lorenzo “Erin” Tañada III noted: “Why did he have to break up the money from the sale?”
Corona is facing impeachment proceedings at the Senate for betrayal of public trust and culpable violation of the Constitution, which include offenses such as the non-disclosure of his SALN.
The trial will only resume on May 7 to give way for the legislative break.

http://www.sunstar.com.ph/manila/local-news/2012/03/22/corona-wife-misappropriated-family-business-money-212652

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