Corona: SALN law in conflict with FCDA

Posted at May 25 2012 05:31 PM | Updated as of May 26 2012 02:58 AM

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MANILA, Philippines – Chief Justice Renato Corona on Friday reiterated that he did not declare his dollar deposits because it goes against the Foreign Currency Deposits Act.

He said the reason why he offered the waiver opening his accounts is to allow the Senate impeachment court to check with the banks if the dollar deposits existed over the years.

“My account officer in BPI can attest to legitimacy of savings,” he said.

Asked why he did not declare the commingled peso funds as a liability, he said: “Hindi po ako accountant…Ang pagkakaintindi ng abogado, it’s not mine. I didn’t borrow it so I don’t have to report it.”

Corona admitted that the FCDA goes in conflict with the SALN law. “I relied on the law,” he added.

The chief magistrate, meanwhile, admitted that he withdrew his funds from PSBank last December 2011 because he received a tip from some friends in Malacañang that his assets would be frozen.

ANC Chief Justice on Trial, May 25, 2012