By Wilnard Bacelonia | Philippine News Agency
The alleged undeclared wealth of Vice President Sara Duterte could reach P1.5 billion under a broader financial assessment that includes previously excluded transactions and assets, forensic expert Alexander Cabrera told the Senate impeachment court on Monday.
The figure, nearly double his original P817.87-million estimate, emerged as presiding officer Francis “Chiz” Escudero asked Cabrera to determine the possible upper limit of his findings if the conservative assumptions used in the prosecution’s financial report were relaxed.
Cabrera identified three major components that could increase the estimate: approximately P475 million in confidential funds, additional discrepancies involving Anti-Money Laundering Council (AMLC) records, and a higher assumed ownership interest in GenCorp.
“Mga 1.5 billion po,” Cabrera replied when Sen. Escudero asked for the possible maximum.
He clarified that the amount represented a hypothetical upper estimate based on a broader treatment of the financial records, rather than a revised finding submitted by the prosecution.
The expert said his original computation excluded approximately P475 million in confidential funds covering two years, citing a legal principle concerning the possible personal use of public funds that were not properly liquidated.
He referred to the Supreme Court’s ruling in Martinez v. Sandiganbayan in discussing the potential legal implications of unliquidated public funds.
However, the inclusion of such funds in a personal wealth computation would require separate factual and legal justification.
Cabrera also said adopting additional discrepancies identified in AMLC records could increase the estimate by about P100 million.
Another adjustment would involve GenCorp, where he initially attributed a 20% ownership interest to Duterte based on her sworn asset declarations and previous business arrangements.
He explained that applying a higher assumed ownership percentage of 45%, together with adjustments to the company’s alleged undeclared income, could increase the computation by approximately P250 million.
Clarifications
Sen. Escudero then clarified whether the P1.5-billion figure represented the possible maximum amount of alleged undeclared wealth from 2022 to 2025 without counting the same assets multiple times. “Tama po,” Cabrera answered.
The discussion followed Escudero’s separate calculation showing that P463.05 million of the original P817.87-million estimate would remain even if all corporate components involving GenCorp, Cale88 Foods Corporation and Metro City Chow were excluded.
The presiding officer also examined whether unpaid taxes and other liabilities should be deducted when determining the net value of the questioned assets.
Cabrera acknowledged that established liabilities would have to be considered in the computation.
“So, whether it’s the low of 817 or the high of 1.5, any liability would have to be subtracted or deducted from that?” Sen. Escudero asked.
“Tama po,” the expert replied.
Cabrera maintained that his P817.87-million report reflected a conservative approach intended to avoid overstating the alleged financial discrepancies based on the available documents.
The prosecution’s Article II allegations concern wealth allegedly disproportionate to Duterte’s lawful income, inaccurate asset declarations, and the continued holding of business interests while serving as Vice President.
