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.

  • Lupita Nyong'o's $150,000 Oscars dress stolen from hotel
    Lupita Nyong'o's $150,000 Oscars dress stolen from hotel

    The $150,000 pearl-studded, custom-made Calvin Klein dress worn by Oscar-winning actress Lupita Nyong'o at this year's Academy Awards has been stolen, police said on Thursday. The gown, embellished with 6,000 natural white pearls, was stolen from Nyong'o's room at the London Hotel in West Hollywood, during the day on Wednesday, a spokesman for the Los Angeles County Sheriff's Department in West Hollywood said. "Ms Nyong'o was not in the room at the time of the theft," Deputy John Mitchell …

  • US-led strikes on IS after group seizes 220 Christians
    US-led strikes on IS after group seizes 220 Christians

    The US-led coalition has carried out air strikes against the Islamic State group in northeastern Syria, where the jihadists have launched a new offensive and kidnapped 220 Assyrian Christians. The raids on Thursday struck areas around the town of Tal Tamr in Hasakeh province, the Syrian Observatory for Human Rights said, without giving information on possible casualties. The town remains under the control of Kurdish forces, but at least 10 surrounding villages have been seized by IS, along …

  • Militants abduct more Christians, smash ancient artifacts
    Militants abduct more Christians, smash ancient artifacts

    BEIRUT (AP) — Islamic State militants seized more Christians from their homes in northeastern Syria in the past three days, bringing the total number abducted by the extremist group to over 220, activists said Thursday. …

  • 3 Pinays on Forbes power women list
    3 Pinays on Forbes power women list

    Three Filipina executives, who are all daughters of known business tycoons in the country, made it to Forbes’ list of the 50 most powerful businesswomen in Asia. Teresita Sy-Coson, vice chairman of SM Investments and chairman of BDO Universal Bank, was included in the list for the fourth year in a row since its inception. “Under her (Sy-Coson) lead SMIC became the largest listed company on the Philippine Stock Exchange by market cap. Also in the 2015 list is 70-year-old Helen Yuchengco-Dee, …

  • 13 of 15 SAF survivors to leave PNP hospital
    13 of 15 SAF survivors to leave PNP hospital

    Thirteen of the 15 Special Action Force (SAF) policemen who survived the bloody firefight with Muslim rebels in Mamasapano last month are ready to go home after a month of medical treatment, a police official said yesterday. Philippine National Police (PNP) spokesman Chief Superintendent Generoso Cerbo Jr. said the two remaining survivors will have to stay in hospital for further treatment, one of whom has shrapnel embedded near his spine. One of the two SAF commando survivors is still …

  • US sends spy plane to patrol disputed sea
    US sends spy plane to patrol disputed sea

    The United States has deployed its newest and most advanced surveillance aircraft for patrols over the West Philippine Sea and South China Sea. The P-8A Poseidon aircraft completed more than 180 flight hours from Feb. 1 to 21 from Clark Air Base, according to the US Navy’s 7th Fleet. …

  • Review: SKK Mobile V2, a P3,999 watered-down LG G2
    Review: SKK Mobile V2, a P3,999 watered-down LG G2

    How well does this P3,999 offering from an underdog in the local mobile industry stack up against the competition? Let's find out. …

  • No coercion, force in sea row – France
    No coercion, force in sea row – France

    France renewed its call for a peaceful resolution of the West Philippine Sea dispute during a meeting between its leader President Francois Hollande and President Aquino at Malacañang. “We reiterated the importance of maintaining peace and stability in Southeast Asia and promoting maritime security, freedom of navigation and the peaceful settlement of disputes in accordance with international law, including UNCLOS (United Nations Convention on the Law of the Sea),” Aquino said in a statement …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options