• P500-M Napoles assets escape freeze order

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    Nearly P500 million belonging to Janet Lim-Napoles and her relatives and “agents has escaped a court order freezing the assets of the alleged brains of the pork barrel scam.

    The money is held in time deposit accounts at a savings and loan cooperative for active and retired officials of the Armed Forces of the Philippines, according to documents shown by lawyer Levito Baligod to the media on Wednesday.

    He said he obtained the documents from his former client and pork barrel scam whistleblower Benhur Luy.

    According to Baligod, the 16 time deposit accounts at the Air Materiel Wing Savings and Loan Association Inc. (AMWSLAI) amounting to P443 million are under the names of Vanessa Eman, maid of Napoles’ daughter, and John Raymond de Asis, the alleged pork scam mastermind’s driver.

    Napoles was able to open accounts at AMWSLAI because her husband, Jaime “Jimmy” Napoles, is a retired Marine major.

    Each of the AMWSLAI accounts earns 13 percent interest yearly, according to Baligod.
    The AMWSLAI accounts of Eman amount to P25 million and those of de Asis, P100 million.

    Eman is now in Hong Kong as a domestic helper.

    De Asis is also the president of the Kaupdanan para sa Mangunguma Foundation used by Napoles in transactions with those who earned millions from kickbacks and commissions from lawmakers’ priority development assistance fund or pork barrel.

    The time deposit accounts, with transaction records from October 2009 to 2011, were not included in the accounts frozen by the Makati Regional Trial Court Branch 22 for assets earlier traced by the Anti-Money Laundering Council (AMLC).

    The court order only covered Napoles’ and her family’s peso bank accounts of P119.917 million and dollar accounts amounting to $696,635.02 (around P29 million).

    The AMWSLAI accounts are also not part of the multimillion-peso insurance policies of Napoles and her children.

    Last March, the AMLC said Napoles had also put pork barrel funds in four insurance policies worth $25,600 under her name, two more worth P5.15 million and $114,218.57 under the name of her daughter Jo Christine.

    Moreover, another two policies were put for her son James Christopher worth P6.7 million, and each for daughter Jeane Catherine worth P5.1 million and son John Christian worth P5 million.

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    2 Comments

    1. It is said in the Bible what good is there in amassing wealth in storage bins when you die you will not bring any of it with you these will just be enjoyed by the people you leave behind. I think it is worst when while still alive you see your “wealth” being enjoyed by others like your lowly driver and maid for one. I am so angry looking at the daughter flaunting on cyberspace the sports car with seats upholstered with leather used for very expensive handbags (my wife could only afford the fake copies). Napoles must be made to suffer the feeling of “kwarta na naging bato pa” and languish in jail knowing that the wealth she hid are now being squandered by her “trusted” alalays. But I wish those in government responsible for unearthing these hidden largesse and freezing them must be truly honest and vigilant themselves because what could be worse is that they themselves will turn into vultures and pocket the wealth themselves which is not far from happening I am sorry to say.

    2. It seems to take this country so long to get anything sorted. What should be a relative simple task can be made so complicated that it can take forever. I think it was all made this way as these people in power all knew they were going to steal money & have therefore made it more difficult to bring them to justice. That seems very clear to me.This is where these people did plan ahead for what they would do, like the bank secrecy law, they made that law to protect all their stolen money & still they keep it under the pretext that removing it will make people lose confidence in the philippine banking system. Its laughable, but in this country thats how it works.