Subpoena of Corona bank records boosts ‘accountability, impeachment process’—prosecution

MANILA, Philippines – The prosecution said that the Senate’s subpoena of Chief Justice Renato Corona’s bank records strengthened accountability and the impeachment process as a “democratic vehicle removing impeachable officials.”

“The deposits are being presented for the simple reason that it is our contention that the chief justice failed and purposely omitted to disclose his assets in his SALN [Statement of Assets, Liabilities and Net Worth] as required by the law, and that he violated the provisions of Republic Act 6713, which states that you must disclose all your assets under oath,” Marikina City Representative Miro Quimbo, spokesman for prosecution, said in a statement.

A majority of senator-judges voted in favor of the request by the prosecution to investigate Corona’s bank records from the Bank of the Philippine Island (BPI) Ayala Branch and the Philippine Savings Bank (PSBank) Katipunan Branch from December 2005 to December 2010.

The prosecution said that the bank accounts of an individual who is the subject of an impeachment proceeding is exempted from the Bank Secrecy Law, or Republic Act No. 1405.

The defense said it could be an “unintentional omission” on the part of the chief magistrate, which Quimbo viewed “as lame.”

“You have to remember that Corona’s field of expertise before he joined the government was tax and commercial laws. So, it is not true that he does not know how to fill up the SALN accurately,” Quimbo said.

The prosecution pointed out Corona’s profile posted on the Supreme Court website which showed Corona had worked as a lawyer at the Development Bank of the Philippines, and as senior vice president and general counsel for Commercial Bank of Manila.

The prosecution said documentary evidence and testimonies heard by the Senate, acting as an impeachment court, showed that Corona owned several pieces of real property that were not declared and others undervalued in his SALN like The Bellagio in Taguig City bought for 14.5 million but only declared 6.4 million in his 2010 SALN.