‘Loose investment’ bared during trial

One of the witnesses that the lawyers of Vice President Sara Duterte presented in her ongoing impeachment trial strengthened the prosecution’s allegations, as it was shown that she had a “loose investment” during her incumbency, a lawmaker said.

Public prosecutor and Batangas 2nd District Rep. Gerville Luistro said Friday that Atty. Suzette Balucanag-Punay, corporate counsel for GenCorp Industries Incorporated and Metro City Chow Foods Corporation, made numerous admissions that affirmed Duterte’s investment in the company.

Luistro said the allegations failed to dispute the prosecution’s claim that Duterte failed to divest her business interests when she assumed her current post in 2022.

“You heard the testimony of Atty. Punay... she did not deny the investment in GenCorp. She in fact admitted the investment in GenCorp, even explaining that she calls it ‘loose investment,’” the lawmaker said.

“Whether loose or otherwise, the same is still investment and it only validates the declaration of the respondent Vice President in her [Statement of Assets, Liabilities, and Net Worth] that she is a shareholder in GenCorp Industries, Inc.,” she added.

The lead prosecutor also pointed out that Punay similarly disclosed that the Vice President was listed as a member of the Compensation Committee of Metro City Chow, indicating that Duterte was a shareholder of the company.

Amid the testimonies, Luistro recalled a previous statement by fellow prosecutor Rep. Joel Chua regarding the witness, quipping that Punay seemed like a witness for the prosecution.

“[Chua] said he mistook the witnesses presented by the defense as prosecution witnesses because they did not deny anything; instead, they strengthened the allegation of the prosecution,” she stated.

During her testimony before the Senate impeachment, Punay said Duterte was receiving what she described as a return of capital from GenCorp between 2022 and 2025, amounting to P2.14 million.

The witness described the matter as a “loose investment,” later admitting it was tantamount to “income” when answering the court’s questions.

The amount reportedly came from Duterte’s previous contribution to a Jollibee branch in Times Square, Davao City, which was initially meant to be operated by Davao Bounty Times Food Corporation.

The branch, however, was eventually taken over by Great Jolly Times Foods Corporation, an entity later known as GenCorp.

Vouch for witness competence, defense told

Luistro also called on the defense lawyers to ensure their remaining witnesses were competent to answer the allegations raised against their client, believing that the lack of substantial testimony only wasted the court’s time.