Philippine Government Electronic Procurement System (PhilGEPS) Division Chief Rendell Sopeña
A NOMINEE or trustee arrangement is among the possible explanations for why Vice President Sara Z. Duterte allegedly declared a financial interest in Gencorp Industries Inc. even though her name does not appear as a stockholder or director in the company’s corporate filings.
“Ang sabi ho nung witness, ang mga possibilities ho ay meron siyang nominee doon or meron siyang trustee. Ibig sabihin, siya talagang may-ari pero iba ho ’yung naka-reflect sa GIS na kanyang trustee or nominee,” House prosecution legal spokesperson and private prosecutor Benjamin “Jay” Tolosa Jr. alleged in a radio interview over dzMM Wednesday.
Tolosa was recounting the testimony of Securities and Exchange Commission Company Registration and Monitoring Department Director Gerardo del Rosario when senator-judges sought possible explanations for the apparent difference between Duterte’s sworn wealth declarations and Gencorp’s SEC records.
“Again, ’yan ho ’yung possible explanation na sinabi ho nung director doon,” Tolosa clarified.
Duterte listed Gencorp among her business interests and financial connections in her 2024 and 2025 Statements of Assets, Liabilities and Net Worth, while SEC records presented during the trial did not identify her as a Gencorp stockholder or director.
The discrepancy has become significant after Philippine Government Electronic Procurement System records showed that Gencorp secured government contracts during Duterte’s tenure as Vice President, including transactions with the Davao City government.
Tolosa stressed that the prosecution did not create the link between Duterte and the company because it came from her own sworn declarations.
“Hindi naman ho prosecution ang nagsabi na meron siyang financial interest doon. Ang Bise Presidente ho ang nagdeklara niyan sa kanyang SALN,” Tolosa pointed out.
The prosecution is presenting the corporate and procurement records under Article II of the Articles of Impeachment, which includes allegations concerning Duterte’s wealth declarations and her alleged failure to divest or refrain from prohibited business participation while in office.
“Well, we will leave it to the determination of the court. Basta sa amin, maliwanag sinabi ho ng mga testigo natin, kapag President, Vice President, you cannot have direct or indirect participation in business or financial interest, for example, in government contracts,” Tolosa maintained.
Whether a nominee or trustee arrangement actually existed in Gencorp has not been established, and the SEC witness raised it only as one possible explanation for the divergence between Duterte’s SALN and the company’s corporate records.
The prosecution will have to establish the nature of Duterte’s declared financial interest and its legal significance before the senator-judges determine whether it supports the allegations under Article II.
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