Comelec chief details family's source of wealth


Posted at Aug 09 2017 06:35 PM

Watch more on iWantTFC

MANILA - Commission on Elections Chairman Andres Bautista on Wednesday claimed part of his wealth came from earnings of his his family's investments.

"People know this: that there were investments made by my family with Forex. This is a problem now, I don't know if you've heard of this, but it was like pyramid scheme," he said.

He added the Bautista family would answer the unexplained wealth allegations "in due time."

Bautista made the claim amid accusations by his own wife that he had millions in undeclared wealth.

He also sought to answer other allegations made by wife Patricia Bautista. 

On Tuesday, Patricia sought to prove her claims by showing documents on live television that Bautista had 32 passbooks, which she claimed contained some P300 million.

"It is true that our family and myself have deposits with Luzon Development Bank. As to the amount, I’m not sure because I said, these bankbooks were stolen," Bautista told ANC's Headstart.

Though the Comelec chief does not know if there were actually 32 passbooks, he explained that he had several passbooks because of the investments he had with his siblings and parents. "We had to demarcate who owns which," he said.

He described as "complete falsehood" Patricia's allegation that P500,000 was funneled to his Luzon Development Bank account everyday.

As "family treasurer," Bautista said he was named as "and/or" in some accounts.

He added, checks from Smartmatic lawyer Nilo Divina were payment for properties that the lawyer bought from the Bautistas.

"We will explain it in due time, but why in media? Why are they doing this as a media play, why don’t you file the necessary cases in court?," he said.