Garcia owned P1.2-M house in Baguio


Posted at Feb 10 2011 08:19 PM | Updated as of Feb 11 2011 04:19 AM

MANILA, Philippines - The government has confiscated a suspected ill-gotten property of retired military comptroller Maj. Gen. Carlos F. Garcia in Baguio City.

Garcia owned a house and 1,000-square-meter lot along Cliff Drive in Loakan proper in the summer capital. The government sequestered the house and lot in August 11, 2010.

Based on the deed of absolute sale, Garcia bought the lot in 1999 for P1.4 million from a certain Gilopez Kabayao. Immediately after, he had the house built. The house now has a market value of P1.2 million.

The Loakan property is only one of the many assets that the government has seized from Garcia and his family over the last few years.

The confiscations were done in relation to a forfeiture case against the former Armed forces of the Philippines comptroller before the Sandiganbayan. Garcia has been accused of amassing at least P300 million in ill-gotten wealth.

Garcia's property in Baguio is located near a lot owned by ex-AFP chief of staff Angelo Reyes, who also reportedly pocketed millions of pesos in military funds when he was still in service.

Reyes' property spans 480 square meters and has a market value of P410,000. Neighbors said Reyes last visited the property in 2008.

Reyes, who was invited to testify before Congress over the plea bargain deal entered into by the government and Garcia, committed suicide on Tuesday. - Based on a report by Maira Wallis, ABS-CBN News