Thursday, January 19, 2012

CJ Renato Corona's SALN 2002 - 2010



Year
Properties
Cash
Total Assets
Liabilities
Net Worth
2002
10,138,000.00
4,830,000.00
14,968,000.00
0
14,968,000.00
2003
14,059,080.00
4,300,000.00
18,359,080.00
11,000,000.00
7,359,080.00
2004
14,059,080.00
4,300,000.00
18,359,080.00
11,000,000.00
7,359,080.00
2005
14,059,080.00
4,300,000.00
18,359,080.00
10,000,000.00
8,359,080.00
2006
14,059,080.00
3,500,000.00
17,559,080.00
8,000,000.00
9,559,080.00
2007
14,059,080.00
3,500,000.00
17,559,080.00
6,500,000.00
11,059,080.00
2008
14,059,080.00
3,500,000.00
17,559,080.00
5,000,000.00
12,559,080.00
2009
14,059,080.00
3,500,000.00
17,559,080.00
3,000,000.00
14,559,080.00
2010
18,438,980.00
4,500,000.00
22,938,980.00
0
22,938,980.00

I copied the above summary of Chief Justice Renato Corona's Statement of Assets, Liabilities & Networth (SALN) from 2002 to 2010 from ABS-CBN news online. Judging from the look of the figures, they seem to be just an estimate and do not really correspond to actual figures. I am not sure if this is allowed under the law.

In 2002, CJ Corona did not have any liability or loan. Yet in 2003, CJ Corona was able to secure a loan/liability of 11M or 60% of his total asset. What he did with this loan? Spent it all? His assets did not increase in value during the time he took the loan. Something fishy here. In 2004, his SALN is the same as in 2003. It means to say that all his salaries were spent to nothing tangible. There was no increase in his money in the bank. Even the bank interest on his savings deposit was spent. In 2005, he was able to pay 1M to his loan which means he was able to save 1M or 83,333.33 monthly from his salary. How much is his yearly salary? Did the 1M come from the earnings of his properties? 

In 2006, he paid 2M, 1.5M in 2007 and 2008, 2M in 2009 and 3M in 2010. Where did this amount of money come from? Notice that his properties are not increasing nor decreasing in value. 

I think the SALNs of Chief Justice Corona are bogus and do not represent his true networth. I think he made them just to satisfy the requirement of the law without realizing that they might be made public. With this, his dishonesty is tantamount to betrayal of public trust and he must be removed from office. After that, he must be sued criminally if some of his assets are proved to be ill-gotten wealth. No one is above the law!

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