Binay accused of misdeclaring SALN | Inquirer News

Binay accused of misdeclaring SALN

/ 04:17 PM November 06, 2014

Ernesto Mercado

Former Makati Vice Mayor Ernesto Mercado. INQUIRER FILE PHOTO / NIÑO JESUS ORBETA

MANILA, Philippines — Former Makati vice mayor Ernesto Mercado on Thursday accused Vice President Jejomar Binay of misdeclaring his wealth in his Statement of Assets and Liabilities Net worth (SALN).

During the Senate committee hearing on the alleged corruption in Makati when Binay was mayor, Mercado showed to the panel screenshots of Binay’s purported time deposit accounts in Hongkong Shanghai Banking Corporation (HSBC) in Hong Kong from 1989 to 1994.


Mercado mentioned the following discrepancies between Binay’s SALN and the alleged time deposit accounts:


– 1989 SALN P379,000; Hongkong (HK) cash, P1.1 million
– 1990 SALN, P394,225; HK cash, P1.487 million
– 1991 SALN, P856,937; HK cash, P1.916 million
– 1994 SALN, P2.9 million; HK cash, P3.543 million
– 1996 SALN, P1.041 million; HK cash, P3.87 million

Mercado said the time deposit accounts were owned by Binay but managed by Gerardo “Gerry” Limlingan and Eduviges “Ebeng” Baloloy, two of Binay’s alleged long-time aides at the time the supposed corruption in Makati happened.

However, Senator Aquilino “Koko” Pimentel III said the accounts would not be part of the records because Binay’s alleged undeclared wealth was not part of the investigation.

The panel is hearing the alleged corruption in Makati involving Vice President Binay and his son incumbent Makati mayor Junjun Binay.

Mercado has testified that both Binays earned kickbacks in various infrastructure projects in Makati when the Vice President was mayor.

Mercado has also testified about a 350-hectare “Hacienda Binay” allegedly owned by Binay using dummy corporations.


Binay would rather talk to people rather than attend Senate ‘circus’ 
Binay a no-show in Senate probe despite blue ribbon panel invitation 
Binay: Senate summons a “bad precedent” 


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TAGS: corruption, Makati City, Politics, SALN

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