Lawyer: Mike Arroyo sold LTA shares in March 2001


Posted at Aug 12 2011 10:49 AM | Updated as of Aug 12 2011 10:01 PM

MANILA, Philippines - Despite the increasing number of witnesses against him, former First Gentleman Jose Miguel Arroyo still insists he is not the owner of 2 pre-owned choppers that were sold as brand new to the Philippine National Police (PNP).

His lawyer Inocencio Ferrer said Mike Arroyo has divested himself of his interests in LTA Incorporated since March 2001 when his wife became President of the Republic.

He said he has documents to prove the divestment, which he will show at the proper time.

Ferrer also said Lion Air president Archibald Po was the one who signed a lease contract for the 5 choppers and this was part of the evidence they submitted in the perjury case against Po.

"Binenta nya na lahat ng pag-aari nya sa lta incorporated. Pangalawa ito pong si Archibald Po ay gumawa ng lease contract. He and his general manager made the contract of lease for the 5 helicopters, had it notarized and sent it to the LTA. Ito pong dokumento ay kasama dun sa kasong sinampa ni Ginoong Arroyo sa Pasay City fiscal's office," he said.

However, Senate Blue Ribbon Committee chairman Teofisto Guingona III presented the general information sheet of LTA Inc. for year 2011, which showed that Mike Arroyo is still one of the company's top stockholders.

Guingona said he believes a lot of people will go to jail for the anomalous procurement of second hand choppers.

"Maliwanag may makukulong dito. Maraming makukulong. Pati yung dating PNP chief Jesus Verzosa may pananagutan kasi sya ang pumirma sa supply contract," he said.