veryhot_post - Fact Check: Dutertes fail to declare 100M investments - Talk of the Town Author Topic: Fact Check: Dutertes fail to declare 100M investments  (Read 1161 times)

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Re: Fact Check: Dutertes fail to declare 100M investments
« Reply #20 on: January 27, 2018, 07:21:08 PM »

Life with investment insurance

The last recorded entry for the two placements in Duterte and Sara’s joint account ST0200124300000002433069539 at BPI Julia Vargas was on March 28, 2014. They added up to P96.85 million.

That day, five same-bank inter-account transfers, which go by the code CTRIA, were reported: four of them each in the amount of P20 million and one in the amount of P16.85 million.

Four days later, on April 1, bank records show the purchase in cash of four life with investment insurance policies from BPI-Philam Life Assurance Corp, each valued at P20 million. Sara, her brothers Paolo and Sebastian and their half-sister Veronica were each issued a policy under their name.
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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Re: Fact Check: Dutertes fail to declare 100M investments
« Reply #21 on: January 27, 2018, 07:21:35 PM »

All the policies declared Duterte as the issuer, or owner, as well as the beneficiary, according to the records.

The issuer or owner gets back his or her investment with interest after the policy matures. Should he or she die, the person under whose name the policy was made becomes the beneficiary.

The records do not show a payout of these policies.

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Re: Fact Check: Dutertes fail to declare 100M investments
« Reply #22 on: January 27, 2018, 07:24:31 PM »

Insurance Policies (B = Beneficiary | I = Issuer)

Duterte’s declarations for 2014 did not include the four insurance policies he owned at the time. He only listed P13.85 million in cash and P3.8 million in investments that year.

The SALN guidelines require government employees to declare their insurance policies. Duterte seems to be aware of the rule. His 2008 SALN declared P3.65 million in investments, including P1.3 million in private insurance.

Duterte’s elder son, Paolo, who was elected Davao City’s vice mayor in 2014, also omitted to include the P20 million insurance policy in his SALN that year. His SALN stated he had P6 million in cash and P850,000 in investments.

The former vice mayor did not respond to VERA Files’ request for his side on this issue.

(Three years earlier, one of Sara’s individual accounts showed a deposit of $1 million—P43.42 million at the time—after she sold her life insurance policy with BPI-Philam Life Assurance Corp. Her SALN for 2011 reflected no such proceeds from the sale of the policy; it only showed P3.93 million in cash and P2.67 million in investment.)

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Re: Fact Check: Dutertes fail to declare 100M investments
« Reply #23 on: January 27, 2018, 07:26:19 PM »

The fifth transaction on March 28, 2014 involved the same-bank transfer of P16.85 million to an investment. Records show the sum was still intact as of Dec. 1, 2015.

P16.85M Investment
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Re: Fact Check: Dutertes fail to declare 100M investments
« Reply #24 on: January 27, 2018, 07:33:31 PM »

Dollar deposit

Duterte and his daughter’s joint account No. 0200231000000003104018962 at BPI Greenhills-EDSA held their dollar deposits and investments that stood at $212,077.98 in 2006 and grew to $224,459.80 in 2010.

It was withdrawn that year and transferred also to BPI Julia Vargas (ST0200224300000002434015971) until it was eventually withdrawn over the counter on April 8, 2013.

Dollar Investment

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Re: Fact Check: Dutertes fail to declare 100M investments
« Reply #25 on: January 27, 2018, 07:35:34 PM »

Trillanes’ P2.2B allegations

Trillanes told VERA Files in a letter dated Jan. 16 that the P2.2 billion he alleged was in the Duterte accounts “was the total credits/deposits in various bank accounts of President Duterte from September 2006 to December 2015.”

He said several bankers and accountants reviewed the AMLC documents and observed that credits/deposits exceeding P50 million were made 13 times and those involving P40 million to P50 million were made 21 times. Trillanes’ office computed these at more than P1.5 billion.

Of the P80 million insurance Duterte bought for his four children all on April 1, 2014, Trillanes said, “A person who claims to have only P100 million will not spend almost all of his money for insurance.”

The senator also pointed to “a pattern of periodic credits/deposits” in the Duterte accounts every March and October which he said coincided with the “periodic encashment of checks” during those months of about P10 million each by Sara, Paolo, Sebastian and Avancena from Uy’s account. “It also means that the money in the Duterte accounts is also from Cang Sammy Uy,” he said.

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Re: Fact Check: Dutertes fail to declare 100M investments
« Reply #26 on: January 27, 2018, 07:37:25 PM »

Penalty for omissions in SALN

The penalties for violating the SALN provisions in RA 6713 are imprisonment of up to five years, a fine of up to P5,000 or dismissal from the service.

In 2012, the Senate, sitting as an impeachment court, convicted then Supreme Court Chief Justice Renato Corona, ruling that “his deliberate act of excluding substantial assets from his sworn Statement of Assets, Liabilities and Net Worth constitutes a culpable violation of the Constitution.”

The Office of the Ombudsman in 2014 filed criminal and civil cases against Corona before the Sandiganbayan, charging him with perjury and violation of RA 6713 for misdeclarations in his SALN from 2004 to 2010.

The cases were dismissed following his death in 2016.

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Re: Fact Check: Dutertes fail to declare 100M investments
« Reply #27 on: January 27, 2018, 07:38:35 PM »

Over the years, the Office of the Ombudsman has dismissed other government officials and employees and barred them from holding public office for misdeclaring their net worth. It has also filed criminal cases against them before the Sandiganbayan, charging them with grave misconduct, serious dishonesty or falsification of public documents, among others.

The Supreme Court, meanwhile, has affirmed the dismissal from service and forfeiture of retirement benefits of several officials for omissions in their SALN, including a court interpreter and a court sheriff.

Citing RA 6713, the high tribunal said any violation of the SALN provision proven in a proper administrative proceeding is sufficient cause to remove or dismiss a public official or employee, even if no criminal prosecution is instituted against him or her.

Malacanang previously said Duterte is immune from suits while he is president.

http://verafiles.org/

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Re: Fact Check: Dutertes fail to declare 100M investments
« Reply #28 on: January 27, 2018, 08:00:19 PM »

Cang Sammy Uy[/b],” he said.
who is Cang Sammy Uy?

A word on Uy. He is a crony of Duterte, a businessman with interests in companies that had contracts with government offices in Davao, the Philippine Center for Investigative Journalism reported.

He studied agriculture at Xavier-Ateneo de Cagayan and is from Davao City. He also went to Ateneo de Manila and Ateneo de Davao for his education, got married in 2011 and has one daughter and a son.

Uy contributed P30 million to the campaign coffers of Duterte and is associated with Davao Farms, DIMDI (Davao Import Distributors Incorporated), described as the "# 1 egg-producing farm in the whole area of Mindanao, Philippines." (more at https://www.rappler.com/newsbreak/inside-track/156159-rodrigo-duterte-shinzo-abe-summit-samuel-uyRappler)

Sammy-Uy-OP-seal - Fact Check: Dutertes fail to declare 100M investments - Talk of the Town
(pcij photo)

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(pcij photo)



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