Analyst: VP Duterte declared only 20% of properties ‘on average’

MANILA, Philippines — Vice President Sara Duterte declared only about 20 percent of her properties “on average,” lawyer Alexander Cabrera, a forensic financial analyst, confirmed on Monday during his cross-examination by defense counsel Kristine Ferrer on the 38th day of Duterte’s Senate impeachment trial.Cabrera, the chairman emeritus of Isla Lipana & Co. (PwC Philippines), said his finding was based on the methodology his team used to examine financial records involving Duterte and her husband, lawyer Manases “Mans” Carpio.

Ferrer referred to Table 17 of Cabrera’s forensic report, which summarized the properties identified through his examination, and asked whether his calculations showed that Duterte had disclosed only 20 percent of her properties.

“On average po,” Cabrera replied.

Article continues after this advertisement

READ: Analyst: VP Sara didn’t declare P817-million wealth

FEATURED STORIES

NEWSINFO

NEWSINFO

NEWSINFO

GenCorp capital

Ferrer also questioned Cabrera about the 20-percent capital interest he attributed to Duterte in GenCorp Industries Inc., which operates five Jollibee franchises in Davao.

Though admitting that he did not examine stock certificates, subscription agreements, the company’s stock and transfer book, or its franchise agreements, Cabrera said his attribution was based on the financial and corporate records available to his team.

Ferrer also questioned the advances attributed to Carpio in Cale88 Foods Corp., which Cabrera’s report amounted to the following:

• P8.7 million in 2022
• P9.5 million in 2023
• P11.1 million in 2024
• P9.5 million in 2025

According to Cabrera, the amounts were based on the company’s financial statements, although his team did not examine the underlying loan documents or books of account.

Article continues after this advertisement

“Only the financial statements po,” he said.

READ: VP’s total unexplained wealth at P817.87M – witness’ report

Article continues after this advertisement

The forensic expert earlier identified approximately P817.87 million in alleged unexplained wealth involving Duterte and Carpio from 2022 to 2025.

His findings form part of the House prosecution’s evidence under the second impeachment article, which accuses Duterte of unexplained and undeclared wealth. /atm