Corona may have undervalued assets by P5M, says Lacson

Senator Panfilo Lacson INQUIRER FILE PHOTO

Senator Panfilo Lacson on Thursday raised the possibility that Chief Justice Renato Corona may have undervalued his properties by at least P5 million in his 2010 statement of assets, liabilities and net worth (SALN) and has to take the witness stand to clarify this.

Lacson pointed out that Corona had listed figures of five properties under the column of current fair market value, but listed their sum of P18,438,980 under the next column, acquisition cost.

He asked during Thursday’s proceedings what should be the reference for acquisition cost, and private prosecutor Benjamin Panganiban said this would be the deed of sale.

If the deed of sale were used as basis, the No. 4 property described as condo in Taguig City, (identified as the unit in Bonifacio Ridge) was worth P9.1 million, while the No. 5 property (Bellagio I unit) was priced P14.5 million, Panganiban said. Both units totaled more than P23 million.

Lacson then commented: “What this means is that total figure of P18 million that he placed under the acquisition cost is short by P5 million.”

Panganiban said: “That means the declaration of the SALN is not truthful and accurate.”

Lacson said: “May I hear from the defense. I want some explanation because I’m referring to a document  signed and sworn to by declarant, the Chief Justice.”

The lead defense counsel, Serafin Cuevas, said his panel would deal with this issue when their turn comes, but said the quoted figure of P18 million seemed to the sum total of the fair market value of the properties.

If this were so, this should have been placed under the column of fair market value, Lacson said.

“If it was accurately prepared, I agree with your observation that should have been the correct procedure. But you will agree with me that there’s no statement relative to the acquisition cost,” Cuevas said.

But Lacson retorted: “That is why we need to talk to the Chief Justice so he could explain why he placed the figure of P18 million under the column of acquisition cost.”

Assuming that it was Corona who personally prepared this SALN, Cuevas said.

But even if this were prepared by his secretary, Lacson said it was Corona’s responsibility to explain whether the figures are accurate, “since he’s the one to be jailed, he’s the one to be impeached, and not his secretary.”

If it were merely inadvertence, Cuevas said he “could not see how the impeachment complaint could come in,” But Lacson reasoned out that Corona has to show that this was not intentionally done.