Does Corona have '$700K' in PSBank?

Posted at 02/10/2012 10:56 AM | Updated as of 02/10/2012 10:56 AM

MANILA, Philippines - Is Chief Justice Renato Corona keeping $700,000 in a bank? This was the question left unanswered during the impeachment trial Thursday even as the Supreme Court issued a temporary restraining order (TRO) on the Senate subpoena for Corona's dollar accounts.

During Thursday's hearing, Philippine Savings Bank (PSBank) president Pascual Garcia III said he could not disclose anything related to dollar accounts because of the confidentiality of these accounts under Republic Act 6426, the Foreign Currency Deposit Act.

He also cited the bank's petition for a TRO on the Senate subpoena for Corona's dollar deposits, which was granted on Thursday.

The prosecution earlier claimed Corona has a PSBank account with an initial deposit of “$700K,” which it interpreted to be $700,000 (around P38 million in October 2008). The prosecution alleged this was not declared in Corona’s Statements of Assets, Liabilities and Net worth (SALN).

During the hearing, Senator-judge Jinggoy Estrada showed Garcia a copy of the document indicating the $700k as alleged initial deposit. He asked Garcia if adding "k" to indicate thousands was standard banking practice.

Garcia said the use of the letter "k" was not usually done. He also said the "k" on the document did not look like a "k."

Senate President Juan Ponce Enrile asked Garcia where the documents could have come from if it did not come from the bank.

“I have no idea. If we will compare them with the original documents, there are differences," he told Enrile.

Enrile said the court is "in possession of information regarding the manner of this leak, the release of this document."

"You better be candid to us, because if you don’t, we will be forced to apply the rules of this court."

Garcia said: “In all candidness, we have gone through a process of auditing this. We have determined that based on what we have as original documents, those docs floating around do not come from PSBank.”

He said the peso accounts are in the domicile of the Katipunan branch, but he could not comment further on the circumstances of the dollar accounts.

Enrile said: “Then you produce the original so that we can compare this. The prosecution will have a lot of things to answer for this if indeed they do not jive with your original documents, how they came into possession with these docs [documents]. They say it was given  to them anonymously.”


Bookmark and Share

3 comments

Boycott psbank

Boycot psbank n metrobank with same owner.
Sila ang pasimuno ng pagfile ng TRO
Sa supreme court because if hindi sila
Nagfile hindi naman pwede maglabas ng TRO ang supreme court
for the love of the Filipino people and our country
I will withdraw all of my accounts
From these banks.
Ang BPI hindi humingi ng TRO
ang psbank lang
Para pagtakpan si corona.
Si rizal nagpabaril para sa atin.
Tayo, the least we can do is
Show our disgust to Psbank n Metrobank
By withdrawung our accounts and sending
Them a note that we are disgusted with them
Protecting a person who stole from us
And kept it in their bank.
Parang ninakawan ka ni JUAN,
ipinatago nya kay PEDRO,
pinuntahan mo si PEDRO,
at sinabi mo kay PEDRO,
isoli mo sakin yung pera na ninakaw ni JUAN.
Ang sagot sayo ni PEDRO,
MANIGAS ka, kikita kami sa deposit na yan
Dahil lahat ng deposit dito may kita kami
Mula sa mga uutang sa amin.
Interest na Ibibigay namin sa depositors mga 3%. lang
Pero 10% singil namin sa uutang samin
Tulad ng business, housing at car loan
Tubong lugaw.
Wala kaming pakialam sayo kahit ninakaw sayo yung pera.


tama ka! ako rin iwithraw ko rin ang pera ko!

tama ka!
tamang tama!
ako rin iwithdraw ko na rin pera ko from metrobank...
iisa pa la may-ari nila ha
sa land bank na ako...
o kaya sa BPI!
tara na!

corona manigas ka na!

Truth is violated by falsehood, but it is outraged by silence.

so?.... anong paki nila

so?.... anong paki nila iwiwithdraw mo?..
tama naman ang desisyon ng PS BAnk..
May Law kasi nyan n dapat sundin.
Kung gusto mong magalit dahil sa Law n yan
itanong mo sa tongressman na nagpasa ng ganong batas.
ok?...
kaya nga May Law n dapat sundin hindi ung gus2 mo gus2 mo n agad!..