The prosecution then sought to prove that Corona had amassed unexplained wealth through hidden dollar accounts, vastly exceeding his declared net worth and salary as a public official.
The High Court subsequently granted PSBank’s petition, citing the Foreign Currency Deposit Act (RA 6426) which stipulates that foreign currency deposits are “absolutely confidential” with no legal exceptions for disclosure.
Although the Senate court complied with the Supreme Court’s TRO barring it from compelling PSBank officials to publicly disclose Corona’s foreign currency accounts, Tongol said they do not expect a similar situation to arise in the current trial.
“The impeachment court learned from that experience and the presiding officer (Sen. Chiz Escudero) used it as the basis for preventing a repeat of what happened during the Corona impeachment trial,” Tongol said.
Despite the Supreme Court’s ruling, the Senate impeachment court convicted former Chief Justice Renato Corona of betrayal of public trust for failing to fully disclose his wealth in his Statement of Assets, Liabilities and Net Worth (SALN), leading to his removal from office.
Similarly, prosecutors accuse Vice President Sara Duterte of failing to truthfully declare her assets and properties in her SALN, an allegation under Article II of the impeachment complaint.
On Monday, the Senate impeachment court granted the prosecution’s request to subpoena the bank and tax records of Duterte and her husband, Manases “Mans” Carpio, as well as Anti-Money Laundering Council records involving 19 corporate entities linked to Duterte and the Carpio & Carpio Lawyers partnership.
The court, however, denied requests for records from JTC Group of Companies Philippines Inc. and Pikimong Pikimong Philippines Corporation, and ruled that Duterte’s and Carpio’s foreign currency deposits could not be compelled without their written consent, as required under Republic Act 6426.
Former Far Eastern University law dean Mel Sta. Maria said access to foreign currency accounts is crucial in determining whether Duterte’s wealth was lawfully acquired, adding that the Foreign Currency Deposit Act should be amended because it has been exploited to conceal illicit assets.