Vice President Jejomar Binay’s camp on Wednesday presented documents including his statement of assets, liabilities and net worth (SALN) to dispel allegations that he used his post as former mayor of Makati City (Metro Manila) to amass ill-gotten wealth.
In a news briefing, lawyer Princess Tugarno explained in detail how the Vice President managed to accumulate his wealth estimated at P60.118 million, with assets amounting to P66.171 million and liabilities of P6.052 million as of December 31, 2013.
The Binay couple’s consolidated net income from 1986 to 2013 (excluding 2004), meanwhile, amounted to P83.115 million, for which they paid taxes that amounted to P23.054 million.
“Everything is accounted for. We have 100 percent accountability for VP [Vice President] Binay,” Cavite Gov. Jonvic Remulla, the vice president’s spokesperson on political affairs, said.
Martin Subido, vice presidential legal counsel, said Binay’s SALN and income tax returns (ITR) belied allegations that he enriched himself.
“The Vice President’s SALN and ITRs, which are public documents and can be requested by anyone, prove that the allegations [against him]are baseless and unfounded,” Subido said.
When he was elected as mayor of Makati City in 1988, Binay’s net worth was P2.5 million, according to his SALN.
He had pieces of property in San Antonio Village in Makati; Laguna; Alabang Hills and Cupang and Tunasan, both in Muntinlupa City (Metro Manila). He also had real estates in San Pedro, Laguna; Cabagan, Isabela; San Pascual, Batangas; and Bataan that amounted to P635,00 based on market prices that year.
In 1994, Binay started a piggery business in Rosario, Batangas, through a sole proprietorship under the name JCB Farms, which was duly registered in the BIR–Rosario, Batangas office.
A flower shop business owned by Dr. Elenita Binay (Blooms and Bouquet) has also been sourcing its flower requirements from a flower farm in Rosario, Batangas.
That earned for the now-Vice President an additional net income of P44.350 million from 1994 to 2010. During this period, Binay paid taxes amounting to P15.889 million.
After the 2010 elections, the Vice President had excess campaign contributions amounting to P13.541 million out of P231.480 million total contributions.
The amount was derived after deducting from the total contributions the total campaign expenses of P217.938 million.
He also disposed of his business interests for a profit in JCB Farms as well as his investments in shares of stocks, that explained why his net worth in 2010 increased to P58.096 million or P13.306 million higher than his 2009 net worth.
“As the Vice President has been saying, his life is an open book. He is confident that his SALN will pass scrutiny, as it always has even during the time of President Arroyo, when he was subjected to constant harassment,” Subido said.
Meanwhile, Sen. Aquilino Pimentel 3rd said the Senate blue ribbon sub-committee handling the investigation on the controversial Makati City Hall Building 2 will stop its probe if it finds the subject structure is not overpriced.
Pimentel, who heads the sub-panel, said he wanted to make the September 25 hearing the last in so far as Building 2 is concerned.
He promised to convince Sen. Antonio Trillanes 4th, a leading investigator, to let the committee resolve the Building 2 issue first before proceeding to other structures.
Pimentel’s committee will be conducting its sixth hearing on the Makati issue today.