MANILA, Philippines (May 25 2012) - Answering to questions by Senator-judges, Chief Justice Renato Corona admitted to owning four dollar accounts totalling $2.4 million and justified its non-inclusion in any of his Statement of Asses and Liabiliies (SALN) by citing the Foreign Currency Deposit (FCD) Law that he claims protects the absolute confidentiality of foreign-denominated bank deposits.
Ombudsman Conchita Carpio-Morales had earlier told the impeachment court that Corona had transactional balance of at least $10 million.
Corona further admitted to having in his name peso bank accounts amounting to P80 million but said he sees no need for them to be declared in his SALN because these are co-mingled accounts - that is, the money is collectively owned by his children and the Basa-Guidote Enterprises, including money left to him by his departed mother.
Corona practically leaves his fate to the individual appreciation of the Senator-judges of the explanations he presented as the impeachment court declares at the end of the session that the Corona case is now deemed submitted for resolution. His conviction or acquittal now rests on whether he can gather enough votes from Senators who would not consider as impeachable offense his non-inclusion of the mentioned money in the banks.
Oral arguments are set for Monday (May 28) and the impeachment court may decide to render its verdict on the same day or the next.
Answering questions from Senator-judge Alan Peter Cayetano, Corona added that he and his wife began buying dollars in the 1960s when the exchange rate was still $1 to P2 and chose to invest in dollars because the currency earns "high interests."
"Kung bakit dollars [ang napili namin] napaka-stable noong currency. Hindi kami nagkamali dun sa hedging in dollars," Corona said.
Corona reiterated that his acquisition of dollars earned interests over the years and that they never touched their interests.
"Sa lahat ng panahong iyun, nasa private sector ako, by present standards nasa P90 million na iyan ...at paglago nyan interest over the years...there was hardly anytime na nagalaw namin ang interest, nag ko-compound-compound po iyan," he added.
Meanwhile, his peso accounts hold some P80.7 million, which included funds from his daughters and son-in-law and those that were given to him by his mother in 1995 when she was diagnosed with cancer.
The "co-mingled funds" consist of P34.7 million earned from the sale of the Basa-Guidote Enterprises property in Manila, and the money from his children Charina (P15 million), Carla (P4 million) and son-in-law Francis (P2 million), and the "Coronado" fund from his late mother.
"Kaya naman po co-mingled funds kasi mas malaki ang deposit, mas malaki ang interest ang makukuha namin," he said.
Corona submitted his waiver to the Senate impeachment court to allow banks and government agencies to scrutinize and disclose details about his assets including his dollar deposits.
Corona, who returned to the Senate straight from hospital confinement, told the Senate impeachment court that he is submitting his waiver without waiting for similar waivers that he initially sought from 188 lawmakers from the House of Representatives who signed the complaint and Senator Franklin Drilon.
"Hindi ko na po hihintayin iyong iba [na pumirma ng waiver]," Corona said and produced a document to submit to Enrile.
The Chief Justice also said the impeachment court could summon bank managers to testify on his dollar and peso accounts.
Corona signed the same waiver in his first appearance before the impeachment court on Tuesday after an almost three hour opening statement. He, however, said that he will formally submit the waiver to the court only after Drilon and the 188 congressmen had signed similar waivers.
In his statement, Corona denied that he had 82 foreign currency accounts, but said he only has four dollar deposits and three peso deposits. He also reiterated that he only had five properties, not 45 as alleged by the prosecution.
After a brief caucus with the senator-judges, Senate President and Presiding Judge Juan Ponce Enrile Enrile said that the impeachment court could only take note of the waiver and could not act on it.
"We cannot subpoena any of the persons mentioned here given the fact we are not supposed to produce evidence for the prosecution or the defense. We take note of the waiver but we cannot act on it," Enrile said.
The prosecution panel said it would no longer use the waiver since the chief justice already admitted the existence of dollar accounts.
"Inamin po nya na mayroon na po siyang dollar account.. Tapos sinabi po nya na hindi po nya deklarado sa SALN (statement of assets, liabilities and net worth). Hindi na po natin kailangan yung waiver ni chief justice dahil mismo sa kanyang bibig nanggaling na hindi po nya sinundan yung Republic Act 1319 and 6173 na nire-require po na lahat ng ari-arian ng isang public oficial ay nakadiklara sa kanyang SALN," Rep. Erin Tanada, prosecution panel spokesman, said.
Meanwhile, Rep. Miro Quimbo, another spokesman for the prosecutors, said the unconditional waiver submitted by the high magistrate has not been damaging to the case.
"Wala kaming nakitang punto na pwedeng maging damaging sa prosecution.. Bagkus kabaligtaran pa.. Ang daming admission dun in fact damaging to the case of the chief justice," Quimbo said.
Fatigued, no walk out
The Chief Justice also apologized to the court for leaving the witness stand on Tuesday without Enrile's permission, but insisted that it was not a walk out.
"Ako po'y nagpapakumbaba at humihingi po ng inyong paumanhin sa nangyari noong Martes. Hindi ko po inaasahan ang mangyayari. Alam ninyo naman po ang pinagdaanan namin sa nakalipas ng anim," he said.
"Mahirap po i-describe ang sama at sakit ng loob na aming pinagdaanan... Siguro nagkasunud-sunod na po. For almost a week hindi ako nakatulog na mabuti. The night before,totally wala akong tulog," Corona told the impeachment court.
He said he was unable to eat lunch last Tuesday owing to upset stomach.
"Hindi rin ako nakakain ng lunch. Nagbabaligtad ang aking sikmura sa nerbiyos. Akoy' nagpapakumbaba na humihingi ng patawad sa inyo, sa prosekyusyon at defense na rin dahil hindi nila alam ang nangyari," Corona said.
He said that he left the witness stand when he felt nauseous after reading his statement. Corona, a diabetic since 1986, said he had no intention to disrespect the impeachment court but he was disoriented because of low blood sugar.
"Hindi po ganoon (walkout)... may dalawang pahina na hindi nabasa, it was totally unexpected ang nangyari...Kailangan pa bang ako'y mamamatay para mapatunayan na sinasabi ko ay tototo?...Ilang beses na rin akong nabastos sa publiko ng ating pangulo pero wala kayong narinig sa akin. Hindi naman po ako bastos na tao ," he said.
Corona told Enrile that he was still weak, but assured that he will try his best to answer questions from the senator-judges. The prosecution has manifested that it will no longer cross-examine the embattled magistrate. (From Philstar.com)