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Robredo's net worth dips by P2.1M in 1st 6 months as VP

MANILA, Philippines – Vice President Leni Robredo's net worth dropped by over P2 million in her first 6 months as the second highest official in the land, her 2016 Statement of Assets, Liabilities, and Net Worth (SALN) shows.

Robredo's SALN was released to Rappler upon its request to the Office of the Ombudsman on Tuesday, May 16.

The Vice President's net worth as of December 31, 2016, was at P8,878,111, from P11,053,138 on June 30, 2016 – a difference of P2,175,027.

In her latest SALN, her total assets are at P15,778,111.43 while her total liabilities are at P6,900,000, for a net worth of P8,878,111.43.

The main difference was in her cash assets, which decreased from P11,115,138 in June 2016, to P8,940,111 in December 2016.

There were no changes in Robredo's 8 real estate properties in Naga City, worth a total of P1.735 million. As of December 2016, she still has two residential lots, 3 agricultural lots, one orchard, a memorial lot in Eternal Gardens, and the Robredo residence – all in Naga City.

The memorial lot and one residential lot have no acquisition cost and were listed as "donations."

In her latest SALN, Robredo listed as her personal properties the following: cash, P8,940,111.43; furniture, appliances, and other equipment, P1.5 million; jewelry, P100,000; prepaid insurance, P630,000; 2010 Toyota Innova, P1.123 million; and 2014 Toyota Grandia, P1.75 million.

Her liabilities are loans from the estate of Marcelina Robredo (P1 million), estate of Jose Robredo (P2 million), Jose Robredo Jr (P1.15 million), Jocelyn Austria (P2 million), and Salvacion Gerona (P750,000).

As of the end of 2016, Robredo listed under "business interests and financial connections" her shares of stock in the Manila Electric Company (Meralco), acquired in different years, but without any declared value.

The Impeach Leni Movement had alleged that by not declaring the value of the Meralco shares, Robredo is liable for "misdeclaration" in her SALN.

Robredo also listed as relatives in government service her sister-in-law, Josephine Bundoc, and brother-in-law, Rafael Bundoc, both doctors at the Philippine General Hospital in Manila. – Rappler.com

Lian Buan

Lian Buan covers justice and corruption for Rappler. She is interested in decisions, pleadings, audits, contracts, and other documents that establish a trail. If you have leads, email lian.buan@rappler.com or tweet @lianbuan.

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