Philippine congressman Manny Pacquiao is House 1st billionaire

Manila (Philippine Daily Inquirer/ANN) - Manny Pacquiao, one of the world's highest paid athletes, is now the first billionaire member of the Philippines House of Representatives.

Ricardo Bering, chief of the House records division, told reporters that boxing's pound-for-pound king reported a net worth of more than 1 billion pesos (US$23 million) in his statement of assets, liabilities and net worth (SALN).

The 285 members of Congress were given until April 30 to submit their SALN.

Although official copies of the SALN would be available to the public by next week, Bering confirmed Pacquiao's lofty status.

In previous years, the Villar couple then Las Piñas representatives Manuel Villar (now a senator) and his wife Cynthia--were the richest House members, but they never breached the 1-billion-peso mark in their SALN.

In 2009, Cynthia Villar reported a net worth of 947.883 million pesos ($22 million). Her Las Piñas seat is now held by son Mark.

The Magazine of the US TV sports network ESPN on Monday said that Pacquiao was the world's highest paid athlete in 2010, raking in $32 million from two sold-out fights--against Ghana's Joshua Clottey in March and Mexico's Antonio Margarito in November. The pay was equal to what baseball superstar Alex Rodriguez of the New York Yankees got, ESPN said. Pacquiao's earnings do not include his income outside the ring such as his various endorsement deals.

Disclosure of Pacquiao's net worth came amid intense scrutiny by the Bureau of Internal Revenue (BIR) of lawmakers' income tax payments.

Bering said BIR Commissioner Kim Henares had sent the House a letter seeking a copy of the SALN of Pacquiao, Bulacan Rep. Linabelle Ruth Villarica and the former presidential sons--Ang Galing Pinoy party-list Rep. Juan Miguel "Mikey" Arroyo and Camarines Sur Rep. Diosdado "Dato" Arroyo.

Mikey and his wife Angela have been accused of tax evasion in 73.85 million pesos ($1.7 million) for failing to file the proper income tax based on the increasing value of their net worth as seen from their SALN reports from 2004 to 2010.

The BIR recently advised Dato that it was also scrutinizing his SALN from 2007 to 2010.

Both Arroyos complained that they were being singled out and that their cases were being used to divert the public's attention away from the country's pressing problems, such as the rising cost of fuel and commodities.

Mikey slammed what he called a "trial by publicity," claiming that the government had released the information on tax evasion charges or tax probes to the media before the Arroyos were informed by the BIR.

The older son of former President Gloria Macapagal-Arroyo, who is now a Pampanga representative, also claimed that even before he got word from a special Department of Justice (DoJ) panel about his tax evasion charges, media were already reporting that he was being subpoenaed to produce documents in the case.

"I am willing to cooperate in the preliminary investigation because I have not committed any crime or wrongdoing and have nothing to hide. But inasmuch as I would want to take part and answer the allegations leveled against me and my wife, I have yet to receive a copy of the subpoena from the DoJ.

"This seems to reinforce our earlier belief that this whole controversy is one big publicity stunt to further malign our name in public with baseless and malicious accusations. This is all trial by publicity, plain and simple," said Mikey in a statement.

With a report from Christine O. Avendaño

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.

  • Beijing poised for 'de facto control' of S.China Sea: Philippines
    Beijing poised for 'de facto control' of S.China Sea: Philippines

    Beijing is poised to take "de facto control" of the South China Sea, the Philippines warned on Sunday as it called on fellow Southeast Asian countries to "finally stand up" to their massive neighbour. Vietnam, the Philippines, Malaysia and Brunei claim parts of the strategic South China Sea, but Beijing claims nearly all of it and its increasingly strident assertions of its territorial ambitions have caused concern in the region and beyond. "(China) is poised to consolidate de facto control …

  • Philippines urges ASEAN to stop China in South China Sea

    KUALA LUMPUR, Malaysia (AP) — The Philippines on Sunday urged the 10-member Association of Southeast Asian Nations to take immediate steps to halt land reclamation by China in the disputed waters of the South China Sea, warning that failure to do so will see Beijing take "de facto control" of the area. …

  • Indonesia defiant as UN leads condemnation of looming executions
    Indonesia defiant as UN leads condemnation of looming executions

    Indonesia on Sunday signalled it was determined to push ahead with the execution of eight foreign drug convicts, despite a growing wave of global condemnation led by United Nations chief Ban Ki-moon. Authorities on Saturday gave formal notice to the eight -- from Australia, Brazil, Nigeria and the Philippines -- that they would be executed by firing squad imminently, along with an Indonesian prisoner. The group have been moved to the high-security prison island of Nusakambangan, where …

  • U.N. chief appeals to Indonesia not to carry out executions
    U.N. chief appeals to Indonesia not to carry out executions

    United Nations Secretary-General Ban Ki-moon appealed to Indonesia on Saturday not to execute 10 prisoners, including two Australians, for drug-related crimes. Indonesia has so far informed seven of the 10 death row inmates, including the Australians and one Nigerian, that they will be executed in a matter of days, possibly as soon as Tuesday. Nationals from Brazil, Ghana and the Philippines are also on Indonesia's death row. A temporary reprieve was granted to a French citizen who will not …

  • AFP monitoring deployment of Chinese seaplanes in Spratlys
    AFP monitoring deployment of Chinese seaplanes in Spratlys

    The Armed Forces of the Philippines (AFP) is adopting a wait and see approach amid reports that China will soon deploy seaplanes to further strengthen its maritime claims in the disputed Spratlys. Brig. Gen. Joselito Kakilala, spokesman for the military and commander of the AFP Civil Relations Service, said they have yet to ascertain the real purpose behind China’s continuing aggressive moves in the region. “We will wait and see before coming up with an official stand,” Kakilala said when …

  • US eyes access to Phl bases in 8 locations
    US eyes access to Phl bases in 8 locations

    The United States has asked for access to Philippine military bases in eight locations to rotate troops, aircraft and ships as Washington shifts its forces to Asia and as China expands its military presence in the South China Sea. US Defense Secretary Ash Carter, in a speech in Arizona, has outlined Washington’s next phase in its Asia “pivot,” deploying its most sophisticated destroyers, bombers and fighters to the region. The Asia “pivot” has already seen US Marines rotating through the …

  • Washington bucks China’s aggressive actions
    Washington bucks China’s aggressive actions

    Short of condemning China’s aggressive actions in the West Philippine Sea, a senior US military official said Washington does not support any act of coercion and bullying. “We don’t stand for coercion, bullying and aggressiveness,” said Brig. Gen. Christopher Mahoney, assistant US military director for  Phl-US Joint Balikatan Exercises 2015. At the sidelines of this year’s joint military exercises’ static aircraft display held at Clark Air Base in Pampanga, Mahoney told a media briefing that …

  • ‘Giving Bangsamoro police control is constitutional’
    ‘Giving Bangsamoro police control is constitutional’

    The proposed grant to the chief minister of the envisioned Bangsamoro region of operational control over police forces in the area is consistent with the Constitution, a senior administration lawmaker said yesterday. It is clear in the proposed BBL that the Bangsamoro police will be part of the Philippine National Police (PNP), while the Bangsamoro Regional Police Board (BRPB) will be part of the National Police Commission (Napolcom) and will carry out Napolcom’s mandate in the region,” he …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options