Prosecution finds Corona’s explanation on PSBank withdrawal ‘incredible’

MANILA, Philippines—“Incredible” was how the prosecution team described on Thursday Chief Justice Renato Corona’s claim that he withdrew his three accounts with the Philippine Savings Bank amounting to P32.6 million supposedly because he lost his trust with the bank.

Prosecution spokesman and Marikina City Representative Romero “Miro” Quimbo pointed out that when Corona closed his accounts on December 12, 2011, the same day the impeachment case against him was transmitted to the Senate, the Chief Justice returned and consolidated the money in one account.

“His (Corona’s) explanation was hard to believe because he also returned to the bank the money he withdrew from the time deposits and consolidated them in one account,” Quimbo said in a statement on Thursday.

“He placed them in a checking account, as testified to by the bank officials. If he no longer trusted the bank, why did he place the money in a new account with the same bank?” he pointed out.

Quimbo said the prosecution would have accepted Corona’s justification if he took out all his peso and dollar deposits from PSBank and transferred them to the bank he trusts.

An unnamed source in the Senate said the Chief Justice has a lot of explaining to do when he said he lost his trust in PS Bank but he opened another account with the same bank to consolidate his money from the three accounts.

The source pointed out that no less than the PS Bank president, Pascual Garcia, told the Senate, sitting as an impeachment court, that the money from the three accounts was transferred to account number 089-101005094.

“He (Corona) will have to explain to the nationwide audience watching those interviews why he lied to millions of viewers,” said the source.

“A person who is capable of lying so brazenly to millions of televiewers on national television doesn’t deserve to be chief justice,” the source added.