PNoy’s wealth zoomed 345%

PNoy’s wealth zoomed 345%

President Rodrigo Roa Duterte and his immediate family has been on constant attack on their so called unexplained wealth from their detractors and critics.
Duterte’s oldest son and former Vice Mayor of Davao City Paolo “Polong” Duterte has been the recipient of the vicious black propaganda wherein a video tagged him as member of the Chinese triad which has illegal drugs as its main line of business.

Questions abounds since as pubic officials their every move or changes in their lifestyle is always being scrutinized.

Former President Benigno "Noynoy" Simeon Aquino III (photo credit to owner)

Aquino’s own unexplained wealth.

We are quoting significant parts of Mr. Hananeel Bordey of the Manila Times in his article titled ‘Noy’s wealth zoomed 345%” To show that even the former President Benigno Simeon Aquino III has his own explaining to do.

In 2015, President Benigno Aquino III’s last full year as the country’s leader, he declared a net worth of P68.78 million compared to 2009, a year before he was elected to Malacañang, when he declared a net worth of only P15.44 million, or a huge 345.43 percent increase from 2009 to 2015.
The increase in Aquino’s net worth was even higher than the spike in the net worth of his predecessor, Gloria Macapagal-Arroyo.
Aquino’s SALN was also mysterious in that in his last annual filing as senator, it showed a net worth of only P15.44 million in December 2009, and the figure jumped to P50.19 million in June 2010 when he entered the presidency, or a difference of almost P35 million in a span of six months. The filing of SALN is required of newly-elected officials within 30 days after assumption of office.
Then Internal Revenue Commissioner Kim Jacinto-Henares told the PCIJ the excess campaign funds were not recorded in Aquino’s income tax return (ITR) for 2010.
A controversial asset of Aquino was a Porsche 911 Carrera, which he claimed to have sold six months after he bought it in 2011. The SALN does not provide a breakdown of the receivables.
Aquino, just months into his presidency, claimed he bought the car for P5 million, and that he used the money he got when he sold a BMW.
Mr. Duterte’s Land Transportation Office head Edgar Galvante, who was a former police general, said there were no records that Aquino purchased a Porsche 911 nor a BMW.
LTO records showed that the only cars under his name were a 2003 Toyota Land Cruiser he registered in 30 June 2003 and a 2016 Ford Explorer registered 15 June 2016, two weeks before he stepped down as President.
The high growth in Aquino’s SALN surpassed that of Arroyo. Aquino was elected in 2010 while Arroyo began her full six-year term as president in 2004. While his net worth rose by more than 300 percent from 2009 to 2015, Arroyo registered an increase of over 90 percent in her wealth declaration from 2003 to 2009.”

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Report from Daily Tribune

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