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By Perfecto R. Yasay Jr.
Former Chairman
, Securities and Exchange Commission
Being the first public official
who stood up against the former President on the issue of corruption
and abuse of power, disobeying and then exposing his unlawful
commands and directives, which eventually led to his impeachment and
ouster from office, I am glad that the trial of Joseph E. Estrada
for plunder is over.
Since the much-awaited verdict of
the Sandiganbayan came down, I received numerous messages from
friends—who were aware of the difficult times I went through
risking my life and the safety of my family in proclaiming the truth
against President Estrada—essentially asking me whether I felt
relieved and perhaps enjoying a sense of triumph that justice and
the rule of law has prevailed with the Court’s decision.
But far from enjoying a sense of
satisfaction I have serious doubts that justice has triumphed and
the rule of law has prevailed in this case.
As to whether or not Mr. Estrada
considers the Court’s decision to be just is a matter that he and
his high-caliber panel of lawyers must evaluate under the umbrella
of options available to him: to reconsider the decision of the
Sandiganbayan, to appeal to the Supreme Court, accept a pardon if
granted to him by the President or, last but not the least, bravely
face the consequences of his conviction.
While I pray that the former
President will find the justice he deserves, I seek justice for the
Filipino people, the real victims of the devastating effects of
large-scale corruption, which continue to be ruthlessly perpetrated
and for which there seem to be no end.
The Sandiganbayan refers to the
hundreds of millions of pesos as “mind- boggling” sums received
by Erap as commissions from “jueteng lords” in return for the
protection of their illegal gambling operations. Yet, this amount
pales in comparison with the P3 billion reported to have been
received by President Estrada for the sale of PLDT shares to
facilitate the disregard of our Securities Law and the disclosure
rules of the Securities and Exchange Commission in less than two
months after he assumed office. Why was there no interest in
investigating and prosecuting the former President for this very
serious offense, when there is no dispute that the sale brokered by
Estrada’s former adviser and financial genius, Mark Jimenez,
took place? Besides, the paper trail of the stock purchase could
have easily proven whether or not “the more mind-boggling”
sums of commissions were paid. Was it because prominent members of
the business community and other influential personalities now close
to the powers that be might have also been involved?
Why has not the former President
been investigated and prosecuted for his involvement as a principal
player in the biggest stock market fraud in our history, known as
the “BW Scandal,” which caused the virtual collapse of the
Philippine Stock Exchange? Could it be because we want the other big
fishes routinely involved in insider trading and stock manipulation
to get away in exchange for political favors?
Unless we have the will to
confront the causes why the Philippines lags far behind our more
progressive Asian neighbors and learn instructive lessons from these
causes, we can never be liberated from our mistakes or take off from
our underdevelopment.
Many Erap supporters have
protested that his conviction was politically motivated, yet our
being fearfully selective in prosecuting him for crimes committed
while in office does not uphold the rule of law and only lends
credence to such protests.
While I believe that the
conviction of Erap would be impossible without convincing evidence
beyond reasonable doubt, we could not deny the fact that the trial
stems from the political motivation of his impeachment and removal
from office. And should Erap’s fate end in pardon granted by
President Gloria Macapagal-Arroyo for the sake of national unity,
then his freedom and relief from the punishment for plunder would
also be politically motivated.
Seen in this light, it is evident
that the verdict on the former President has not produced the spark
that would have rekindled the flame of justice that has long died
out in the hearts of many Filipinos.
For the rule of law to prevail,
the law must be uniformly applied to all, regardless of social
status. Anyone who acts above the law loses any moral authority to
invoke the rule of law in justifying the curtailment of the
legitimate protests of the real victims who still suffer in anguish
and desperation, against the continued abuse of power by the highest
officials of the land.
Indeed, our (graft) laws are
primarily intended to protect the people from the abuses of those in
power. And when the masses rally in the streets to declare their
objections to these improprieties and unlawful acts they serve to
remind all of us that the welfare of the people, which is the
supreme law, must rule.
(Yasay received the EDSA
People Power Freedom Award for undaunted courage as a key witness in
the impeachment trial of President Estrada, and is currently a
visiting professor of law at the Richardson School of Law,
University of Hawaii, in Honolulu.)
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