SIX years after former President and now Mayor Joseph Estrada of Manila was found guilty of plunder, the bank account of “Jose Velarde” has finally been emptied and closed.

A senior official of Banco de Oro (BDO) said in a three-page sworn statement that Investment Management Account (IMA) Trust Account 101-78056-1 has already been “terminated” after all its assets were transferred to the state.

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