There it goes...it has been found. He denied it, oh...really? Why would you deny 1 billion pesos of money?
On the news today:
Making headway in its nearly two-month-long search, the anti-graft court Sandiganbayan has found P1.1 billion worth of assets in the Jose Velarde bank account of deposed president Joseph Estrada.
Edgardo Urieta, the court’s chief sheriff, confirmed that the shares of stock and receivables in Estrada’s account at Equitable-PCIBank, now Banco de Oro-EPCI Inc., were intact.
“This office is now in the process of consultation with Banco de Oro officials regarding the course of action in the delivery or selling at public auction of the shares of stocks of the IMA Trust Account… in order to satisfy the P189,700,000 as stated in the writ of execution in the Jose Velarde account,” Urieta said in his report Thursday to the court’s Special Division.
Estrada distanced himself from the account.
After Estrada was convicted of plunder in September last year, the Sandiganbayan sheriff was ordered to seize in favor of the government P189.700 million in the Jose Velarde account, and P545.291 million in Estrada’s Erap Muslim Youth Foundation.
Jueteng payoffs
The money represented payoffs from the illegal numbers game “jueteng,” and commissions from the trading of Belle Corp. shares using funds from the Government Service Insurance System and Social Security System.
-------------
I hope this gets settled and the money given back to the government.
On the news today:
Making headway in its nearly two-month-long search, the anti-graft court Sandiganbayan has found P1.1 billion worth of assets in the Jose Velarde bank account of deposed president Joseph Estrada.
Edgardo Urieta, the court’s chief sheriff, confirmed that the shares of stock and receivables in Estrada’s account at Equitable-PCIBank, now Banco de Oro-EPCI Inc., were intact.
“This office is now in the process of consultation with Banco de Oro officials regarding the course of action in the delivery or selling at public auction of the shares of stocks of the IMA Trust Account… in order to satisfy the P189,700,000 as stated in the writ of execution in the Jose Velarde account,” Urieta said in his report Thursday to the court’s Special Division.
Estrada distanced himself from the account.
After Estrada was convicted of plunder in September last year, the Sandiganbayan sheriff was ordered to seize in favor of the government P189.700 million in the Jose Velarde account, and P545.291 million in Estrada’s Erap Muslim Youth Foundation.
Jueteng payoffs
The money represented payoffs from the illegal numbers game “jueteng,” and commissions from the trading of Belle Corp. shares using funds from the Government Service Insurance System and Social Security System.
-------------
I hope this gets settled and the money given back to the government.
