The Inbox

Corona declares P22.9M net worth, 5 properties

Corona's SALNs as SC justice
By YVONNE T. CHUA, VERA Files

Chief Justice Renato C. Corona has reported a net worth of P22.9 million and five pieces of property, including three condominium units he bought in the 10 years he was member of the Supreme Court.

Corona, who was impeached last month and is being tried by the Senate, has been accused of failure to disclose to the public his Statement of Assets, Liabilities and Net worth.

The impeachment complaint from the House of Representatives also quoted reports that that some of Corona's properties were not included in his declarations and alleged he has accumulated ill-gotten wealth, having acquired assets of high values and keeping bank accounts with huge deposits.

Corona has invoked a 1992 en banc resolution restricting the release of SALNs of members of the judiciary in refusing to release the statements to the public.

But Supreme Court clerk of court Enriqueta Vidal was forced yesterday to surrender Corona's SALNs since 2002 on orders of the Senate.  Also yesterday, the Supreme Court authorized the turnover of the documents to the impeachment court.

Corona's counsels have stressed that the chief justice has been complying with the required annual filing of SALNs.

The five pieces of real property declared in Corona's latest SALN, for 2010, are his Quezon City residence acquired in 1970, a condo unit also in Quezon City bought in 1997, and another condo unit in Makati purchased  in 2003, when he was already with the Supreme Court.  He had previously declared these properties.

The new entries are a condo unit he bought in Taguig in 2004 and another condo unit, also in Taguig, bought in 2010.  The property acquired in 2004 has an assessed value of P1,421,990 and current market value of P2,369, 9890, while the 2010 condo is assessed at P3,496,320 and has a market value of P6.8 million.

Corona said in his SALN that he sold two parcels of land in Quezon City to pay for the loans used in acquiring the Taguig condo units.

Before the trial began, Corona's counsels said the chief justice has five properties: his family residence in Xavierville, two condo units in Taguig, a unit at The Columns in Makati and another one at One Burgundy Place on Katipunan Ave., Quezon City.

Impeachment prosecutors and news reports, however, cited a list from the Land Registration Authority supposedly showing that Corona has 45 properties in Metro Manila, 19 of them supposedly not declared in his SALN and estimated to be worth P200 million.  The properties, according to reports, include a condominium unit at The Columns in Makati; a unit at Bellagio I in Fort Bonifacio in Taguig; a unit in Bonifacio Ridge also in Fort Bonifacio, and several pieces of property in Marikina Heights and in Diliman, La Vista Subidivison and Cubao in Quezon City.

The chief justice has branded the list of his alleged properties, which purportedly came from the Land Registration Authority, a "hoax" and "black propaganda."

Before his appointment to the Supreme Court in 2002, Corona was then President Gloria Arroyo's adviser and chief of staff.  He reported a net worth of P13.9 million.  Following his appointment year, as associate justice, his declared net worth was P14.9 million. (Read related story: Corona's net worth before SC: P14M)

But his net worth would dip from 2003 till 2009, as he reported having obtained an P11 million cash advance from his wife's family-owned business, Basa-Guidote Enterprises.  His net worth declined to P7.35 million and gradually climbed back to P14.6 million in 2009 when the borrowing was reduced to P3 million.

His December 2003 SALN reported the purchase of a land with an assessed value of P450,000 and current market value of P3 million.  That same year, he reported the P11 million cash advance from the company owned by his wife Cristina's family.

It was only in the  2003 SALN that Corona declared the condo in Quezon City he bought in 1997, saying it had been fully paid and the title had been transferred. The condo had an assessed value of P276,320 and market value of P921,089. No longer listed was the Quezon City house he acquired and built in 1976, which he listed when he was still in the executive branch.

Corona listed his wife Cristina's position at the John Hay Manor Corp. in his 2007 to 2009 SALNs.  His wife, however, was appointed a director of  the JHMC board by Arroyo in May 2001, a fact the chief justice omitted to include  in his 2001 to 2006 statements.

His cousin Benedicto, a colonel who became a brigadier general in the Marines in 2003, was no longer listed in the 2005 SALN.  His brother Ruben, National Home Mortgage Finance Corp.,  a manager in 1992 who later became vice president vice president of the National Home Mortgage Finance Corp., no longer appeared in 2006 SALN.  His statement, however, list lists a first cousin, Romeo Corona, as being employed in government, specifically the Office of the President.

Corona first joined the government in 1992 when he was appointed President Fidel Ramos' assistant executive secretary.

(VERA Files is put out by veteran journalists taking a deeper look at current issues. Vera is Latin for "true.")

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • EU threatens Thailand with seafood ban over illegal fishing
    EU threatens Thailand with seafood ban over illegal fishing

    BRUSSELS (AP) — The European Union has given Thailand six months to drastically crack down on illegal and unregulated fishing or face an EU seafood import ban, but has lifted the threat of similar action against South Korea and the Philippines. …

  • Philippines accuses China of turning water cannon on its fishing boats

    Filipino activists denounced China's coast guard on Tuesday for turning water cannon on Philippine fishing boats in disputed waters, near where hundreds of Filipino and American Marines landed on a beach in a mock assault. The presidential palace in Manila said China's coast guard used water cannon on Monday to drive away a group of Filipino fishermen at Scarborough Shoal, damaging some of their wooden boats. …

  • Image of Asia: Training to storm a beach in the Philippines
    Image of Asia: Training to storm a beach in the Philippines

    In this photo by Bullit Marquez, a U.S. Navy amphibious assault vehicle with Philippine and U.S. troops on board storms the beach during a joint exercise at the Naval Education and Training Command center in Zambales province, northwest of Manila. The Zambales shore faces the disputed Scarborough Shoal, where Chinese vessels were reported to have driven away Filipino fishermen with a water cannon and seized some of their catch in early April. Philippine military officials say the maneuvers with …

  • Pinoy team wins global disaster preparedness competition

    The Philippines was one of the big winners at the 2015 Global Innovation Competition last week for a cloud-based information system for disaster. The project, called "Balangay," is the brainchild of cousins Frei Sangil and Paolo Sangil. …

  • How Asia uses Bitcoin in one color-coded map
    How Asia uses Bitcoin in one color-coded map

    Bitcoin is a global phenomenon, but not everyone around the world uses it in the same way. Here in Asia, the way a person from the Philippines uses bitcoin is probably very different from how it’s used in Thailand, and both are very different from the typical user in Taiwan. Despite bitcoin being hailed as …

  • Pacmania sweeps Philippines ahead of Mayweather clash
    Pacmania sweeps Philippines ahead of Mayweather clash

    Manny Pacquiao's face is on shirts, dolls and postage stamps, his life story is playing in movie houses and millions are getting ready to party as the Philippine boxing hero's "fight of the century" nears. Pacmania is sweeping the Southeast Asian nation of 100 million people ahead of the May 2 Las Vegas bout against unbeaten Floyd Mayweather to decide who is the best boxer of their generation. Of course, it's the fight of the century," Manila film producer Lucky Blanco told AFP. …

  • Manila 'cute little submissive' of US: China media
    Manila 'cute little submissive' of US: China media

    The Philippines is nothing more than the "cute little submissive" of the United States, a Chinese tabloid with close ties to the ruling Communist Party said on Tuesday, criticising Manila for military exercises with Washington. The English-language editorial came a day after the Philippines launched giant 10-day war games with the US and Australia, partly aimed as a warning shot to Beijing amid competing claims in the South China Sea, home to vital shipping routes. "Of all the countries …

  • Philippines seeks more military aid from US to counter China
    Philippines seeks more military aid from US to counter China

    The Philippines said Tuesday it would soon ask the United States for more military equipment and training to build its defences, as it faces Chinese "aggressiveness" in disputed waters. As hundreds of Filipino and American Marines simulated an amphibious assault to reclaim territory from invaders during annual war games, military chief General Gregorio Catapang told AFP he was drafting a "wish list" for US aid. Catapang said the Philippines would ask for "equipment and training", when Foreign …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options