Author Topic: Long Testimony of Renato Corona May Be Stricken Off the Record  (Read 765 times)

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By Jelly F. Musico

Senate President and presiding officer Juan Ponce Enrile on Tuesday warned that he would order the two hour-long testimony of Chief Justice Renato Corona stricken off the record and render verdict on the impeachment case should the chief magistrate evade being cross-examined by the prosecution and the senator-judges.

Enrile made this warning after Corona suddenly walked out and left the witness stand without asking permission from the court after signing a waiver authorizing government entities to open peso and dollar bank accounts as well as his statement of assets, liabilities and net worth provided that the 188 complainants from the House and Senator Franklin Drilon will also sign the same waiver.

”We will give Corona until tomorrow (Wednesday) to return. If he does not return, we will consider this case submitted for resolution. If corona does not want to be cross-examined, I will order his statement stricken off the record,” Enrile said.

The decision of Enrile was supported by all the 23 senators present during the 40th day of the impeachment trial on Tuesday.

Defense lead counsel Justice Serafin Cuevas apologized for Corona’s sudden departure from the session hall even as he got boos from the gallery.

Corona returned to the session hall on a wheelchair, forcing Cuevas to ask for suspension of the trial hearing to give the chief magistrate enough time to recover from sudden attack of hypoglycemia until Wednesday.

”He is not physically able and not mentally suited to carry on the direct examination. Corona will continue his testimony but not today,” Cuevas said.

Enrile granted the request of the defense and, at the same time, demanded respect from Corona.

”I have high respect for the chief justice and Supreme Court but I demand respect for the institution I represent. I will not allow any abuse of authority against this court for as long as I am presiding officer,” Enrile said.

In his testimony, Corona denied the claims of Ombudsman Conchita Carpio-Morales that he has 82 dollar accounts amounting to US$ 10 to 12 million and 31 peso bank deposits.

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Re: Long Testimony of Renato Corona May Be Stricken Off the Record
« Reply #1 on: May 23, 2012, 05:04:15 PM »
In his testimony, Corona denied the claims of Ombudsman Conchita Carpio-Morales that he has 82 dollar accounts amounting to US$ 10 to 12 million and 31 peso bank deposits.

let's hear it from the "other side", explaining how this US$10 to 12 million was "earned", for fairness' sake or for the sake of banking literacy...

"Ombudsman Conchita Carpio Morales’ allegation that Chief Justice Renato Corona has $12 million in dollar accounts will go down in Philippine history as one of the biggest and most deviously constructed deceptions ever foisted on the public.

Morales unfortunately swallowed hook, line and sinker the deeply flawed analysis of raw data made by Heidi Mendoza, whom President Aquino deep-selected to overtake five officer-levels to become deputy commissioner of the Commission on Audit.

Morales’ allegations are based on two colossal errors. One involves confusing the meanings of “transactions” and “balances”; the other exploits laymen’s ignorance of banking transactions and how these are documented.

The first error actually was deliberate as Aquino’s operatives still had a big problem when they got raw data from the secretariat of Anti-Money Laundering Council (AMLC). These didn’t report Corona’s bank balances but merely transactions, whose average amount per transaction for deposits was only $104,737, hardly eyebrow-raising. (The AMLC report, marked “For Intelligence Purpose Only,” however, has no authorship and its entries have no source document, which opens the possibility of its tampering.)" (from 'Colossal deception on Corona’s accounts' by Rigoberto Tiglao, Philippine Daily Inquirer, Thursday, May 17th, 2012)

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islander

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Re: Long Testimony of Renato Corona May Be Stricken Off the Record
« Reply #2 on: May 23, 2012, 05:08:21 PM »
Morales—or Mendoza—therefore had to surreptitiously misrepresent “transactions” as “balances,” to generate significant amounts.  This was done by a conceptual sleight of hand.

Morales’ PowerPoint presentation states: “The amounts appearing in the tabulation are not account balances but transaction balances.” This was a devious invention of a term in order that the sum of transactions would be confused with “balances,” so that Corona would appear to have huge bank accounts. Indeed, Morales would later on drop the “transaction” adjective, referring only to “aggregations,” “balances,” or “bank accounts.”

Transactions are the withdrawals and deposits on your bank account over time. The net result of these, what’s left, is your bank balance at a given time. (from 'Colossal deception on Corona’s accounts' by Rigoberto Tiglao, Philippine Daily Inquirer, Thursday, May 17th, 2012)

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Re: Long Testimony of Renato Corona May Be Stricken Off the Record
« Reply #3 on: May 23, 2012, 05:31:50 PM »
To illustrate, if I have P100,000 in my bank account and lend it out at a  5-percent interest rate for a month’s use to six borrowers consecutively, my bank balance at the end of six months would be P130,000. This is the sum of my initial P100,000 plus the interest of P5,000 earned for each of  the six lending transactions.

For Morales though, my bank account would be 10 times more: P1.33 million. This is her “transaction balance” for the 13 transactions—my initial deposit of P100,000 plus P600,00 (the sum of six withdrawals of P100,000 each when I lend it) plus P630,000 (the sum of six deposits of P105,000 each when I’m repaid).

This is exactly how Morales arrived at Corona’s “$12 million dollar accounts.”


more at: http://opinion.inquirer.net/28823/colossal-deception-on-corona%E2%80%99s-accounts

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Republic Act 8485 (Animal Welfare Act of 1998, Philippines), as amended and strengthened by House  Bill 6893 of 2013--- violation means a maximum of P250,000 fine with a corresponding three-year jail term and a minimum of P30,000 fine and six months imprisonment

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