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Corona admits withdrawing PSBank deposits the day he was impeached

By: - Reporter / @T2TupasINQ
/ 08:31 PM March 07, 2012

MANILA, Philippines—Chief Justice Renato Corona admitted they closed their accounts in Philippine Savings Bank (PSBank) on the day he was impeached in Congress saying they lost trust and confidence with the bank who he believes has been leaking his bank records.

As early as November, 2011, Corona said they were informed by some friends who were depositors of PSBank Katipunan branch that there were talks among some bank officers about his bank accounts.

He said he never believed it at first but when a friend from Congress told them that the bank accounts will be part of the articles of impeachment and were informed that a bank officer will testify against them, “I guess that’s enough for us to close our accounts.”


“If we were not informed that these will be included in the Articles of Impeachment, we would probably not close our accounts,” Corona said explaining about the closing of the accounts coincide with the day he was impeached.

“We also have friends in Congress who warned us,” he added over GMA News interview.

Based on the testimony of PSBank Katipunan branch manager Annabelle Tiongson, account 089121019593 was closed on Dec. 12, 2011.  It was opened in 2009 with an amount of P8,500,000 that increased to P12, 580,316.56 as of end of 2010.

The other account that was closed on December 12, 2011 was 089121021681 which was opened on Sept. 1, 2010 with an amount of P7,090,099.45. As of end-2010, the amount was at P7,148,238.83.

Both are peso time deposits.

The other account, which was not a subject of a subpoena by the Senate impeachment court, was also closed on the same date. It had an initial deposit of P17 million on June 29, 2011. It is also a time deposit account.

Corona said the funds are from the Basa-Guidote Enterprise which is under his wife’s, Ma. Cristina Corona, protection.

“The bulk of the funds are owned by my wife’s family corporation which is subject of 3 pending cases before the Manila Regional Trial Court and ultimately, my wife, being the president of the corporation is accountable for those funds,” Corona said.


“Given that situation that you have to protect those funds, you cannot blame us for doing that,” he said.

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TAGS: Bank records, Chief Justice Renato Corona, Corona Impeachment, Philippine Savings Bank, PS Bank, PSBank Katipunan Branch
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