• Corona posts P160,000 bail in SALN case

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    Former Chief Justice Renato Corona on Wednesday posted bail at the Sandiganbayan where he is charged with 16 counts of misdeclaring his Statement of Assets, Liabilities and Net Worth (SALN).

    Corona showed up at the Sandiganbayan with his wife, Cristina, to post a P160,000 bail.

    His case was raffled to the court’s Third Division.

    The Ombudsman, who filed the charges against Corona, presented documents to prove that he undervalued his net worth and real estate properties.

    Government officials are required to fully disclose their SALN.

    Bail was set at P10,000 for each count, or a total of P160,000.

    The civil case against Corona and his wife still stands as forfeiture cases are non-bailable, and it will be tried by the Second Division headed by Associate Justice Teresita V. Diaz-Baldos with Associate Justices Napoleon E. Inoturan and Oscar C. Herrera Jr. as members.

    The Ombudsman also wants P130 million worth of the couple’s assets frozen.

    “With a combined income of just over 30 million from 2001 to 2010, respondents have been able to amass and accumulate assets worth more than P160 million for the same period,” the Ombudsman’s petition for the forfeiture of Corona assets read.

    “The disparity between respondents’ incomes and wealth – more than P130 million – is too glaring to be capable of any acceptable explanation,” it added.

    The only business interest declared in Corona’s SALN is Cristina’s share in Basa Guidote Enterprises.

    REINA TOLENTINO

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    1 Comment

    1. Siony Camacho Bana on

      Lets hope that this investigation will disclose many inflated (appraisal) values of most condominiums being built by many developers who monopolizes and dictates the value of condominiums (mostly overvalued) they sell to investors ( local citizens and foreign investors).it’s unfortunate that Congress and Senate has not acted and passed a law at all to regulate what is the fair market value of any real estate property being sold that would serve as a standard guideline both for buyer and seller to avoid overpricing practices done by many realtor agent BIR has the responsibility to inform every citizens of how they will be taxed on everything , not just hearsay and ghost policies that the public hardly know if it exists. And BIR could be suit for harassing anyone and a Filipino citizen has every right to due process, to amend ,correct the error of SALN they filed , and they entitled to be represented by a lawyer/accountant they trust.