House prosec flags P174M discrepancy, P6M loss in VP Sara-linked banana chips firm

THE House prosecution on Friday questioned a P174.21-million financial discrepancy involving Cale88 Foods Corp., a banana chips company linked to Vice President Sara Z. Duterte and her husband, lawyer Manases Carpio, which also reported a P6.13-million loss despite more than P150 million in sales in 2024.

House private prosecutor Lorna Kapunan said the discrepancies were identified in the financial analysis of prosecution expert witness Alexander Cabrera, who examined the company’s audited financial statements, bank transactions and other corporate records.

“Sa 2024 lang, umabot ng 174.21 million [pesos] ang hindi dineclare ng Vice President sa kanyang SALN. Ito ay ayon sa final report ni Atty. Cabrera,” Kapunan said at a press briefing.

Kapunan said Cale88 reported P150.77 million in sales in 2024, while bank records showed P172.95 million in deposits to its peso accounts and another P152.3 million equivalent in foreign-currency accounts.

She questioned why the company reported a loss despite its substantial sales and financial transactions.

“Magkano ang benta noong 2024? 150 million [pesos],worth of banana chips ang nakalagay sa libro. Pero ang dineclare na taxable net income ay negative,” she said.

Cale88 reported a negative taxable net income of P6.128 million that year.

Kapunan also questioned the apparent absence of inventory, accounts receivable and accounts payable in the company’s financial records.

“Eh ito bang company ng Cale, walang receivable, payable or inventory according to our expert witness,” she said.

She explained that even small businesses normally maintain records of goods, money owed by customers and payments due to suppliers.

The lawyer said the prosecution’s findings raised questions about Cale88’s actual operations, particularly its reported sales and financial transactions.

She also cited discrepancies of about P23 million in 2023 and P60 million in 2025 identified in Cabrera’s analysis.

“Ayon sa final report ni Atty. Cabrera, maalala n’yo na si Atty. Cabrera ang expert witness ng prosecution na nagtali-tali, na nag-connect-connect ng lahat ng mga dokumento namin,” Kapunan said.

Cabrera, a lawyer and former chairman of PwC Isla Lipana & Co., previously presented financial findings based on bank records, tax documents, corporate filings and Duterte’s Statements of Assets, Liabilities and Net Worth (SALNs).

Kapunan also noted that Cale88 reported no employees in its 2023 and 2024 corporate filings and only two workers in 2025.

Carpio previously held a 47.5% stake in the company, which Duterte also declared in her SALN.

The Bureau of Internal Revenue has initiated an audit of Cale88 to examine its reported transactions and supporting documents.

The prosecution examined whether the company’s financial records and business interests were properly reflected in Duterte’s asset declarations.

Article II, involving allegations of unexplained wealth, is the sole remaining impeachment charge against Duterte.

The defense has disputed the prosecution’s financial findings and is scheduled to begin presenting evidence before the Senate impeachment court on Monday, November 9.