Are SC decisions linked to CJ transactions?.

BY CARMELA FONBUENA, RAPPLER.com
May 26, 2012

MANILA, Philippines – It’s the next logical question. His money or not, what is the source of Chief Justice Renato Corona’s multi-million peso and dollar deposits?

In his testimony in the Senate, Corona admitted he has US$2.4-M in dollar accounts and P80-M in peso deposits. These were undeclared in his Statement of Assets, Liabilities and Net Worth supposedly because 1) the peso deposits are commingled funds and 2) the dollar deposits are protected by the confidentiality of foreign deposits.

Corona maintained that his multi-million dollar deposits came from legitimate sources. He supposedly starting investing in dollars in the late 1960s, when he was still a college student. The investment earned interest over a span of 35 years. Banking experts however pointed out it was illegal to engage in dollar trading in the 60s.

Corona denied the computation presented by Ombudsman Conchita Carpio-Morales showing that he has at least US$12-M in fresh deposits. She cited records of the Anti-Money Laundering Council (AMLC), which she said, were certified.

Read full article @ www.rappler.com

Human Rights Online Philippines does not hold copyright over these materials. Author/s and original source/s of information are retained including the URL contained within the tagline and byline of the articles, news information, photos etc.