Few thousands left in Corona couple’s bank accounts

MANILA, Philippines – Sandiganbayan sheriffs found only P7,580.98 left in the bank accounts of former chief justice Renato C. Corona and his wife, Cristina R. Corona, when they served writs of attachment issued by the anti-graft court Sandiganbayan in connection with a P130.6-million forfeiture case. 

In a March 12 report submitted to the Second Division, Sheriff IV Alexander K. Valencia said only P1,056.27 was found in an account with the Bank of the Philippine Islands (BPI), while P6,524.71 was found at the Philippine National Bank-SSS Diliman Branch in the name of Cristina Corona. Both bank accounts have been attached. 

An attachment on a bank account effectively freezes the account, preventing a bank depositor from withdrawing money. In the case of the Coronas, the court order came only after the bank accounts had been drained.

Of the couple’s owned bank deposits, investments and real properties – with a combined value of P160.96 million – only P30.37 million could be considered “legitimate assets,” according to a complaint for forfeiture of ill-gotten wealth filed by the Office of the Ombudsman in March 2014.

Not in SALNs

The petition for forfeiture noted Corona had cash deposits totalling P137,937,207.88 “in various peso and dollar accounts in different banks, that he failed to declare in his SALNs.”

Ombudsman Conchita Carpio Morales – testifying in 2012 during Corona’s 2012 impeachment trial – disclosed that there were no less than 82 bank accounts linked to the Coronas based on a report prepared by the Anti-Money Laundering Council (AMLC).

The Corona-linked accounts were reportedly in the following banks – BPI, PS Bank, Allied Bank, Deutsche Bank AG, and Citibank NA. The sheriff’s report, however, noted only BPI and PNB accounts as still existing, though with little cash remaining. 

Inquiries with the Philippine Savings Bank, the United Overseas Bank, Metrobank, China Bank, Citibank, and the Phil-Am Assets Management Inc yielded negative results.

Meanwhile, Land Bank of the Philippines was still inquiring with its various branches. It promised to submit an update once the process was completed.

Court officers traced real properties of the respondents. The officers were able to attach a condominium unit with a parking lot at One Burgundy Plaza in Loyola Heights, Quezon City; a residential lot in La Vista in the name of Corona’s daughter; a condo unit and parking lot at The Columns on Ayala Avenue, Makati City; a condo unit with 3 parking slots at Bellagio I, Fort Bonifacio, Taguig City; and a condo unit with one parking slot at Bonifacio Ridge, also in Fort Bonifacio. – Rappler.com