Senate grills general's in-law over P255-M cash deposits

UPDATED 11:10 p.m. - Edgardo Yambao, the brother-in-law of former military comptroller Lt. Gen. Jacinto Ligot, was grilled during a Senate hearing on Thursday because of the supposed P255 million cash inflow to his bank accounts from 2001 to 2005. Senator Franklin Drilon said records of the Anti-Money Laundering Council (AMLC) indicate that around P255 million in peso and dollar deposits were made to the Citibank, Metrobank, and United Overseas Bank accounts of Yambao. "Our records indicate that you deposited and withdrew in about three accounts dollars and pesos sizable sums of money," said the senator, who also chairs the Senate finance committee. Yambao initially denied being the owner of the accounts but then recanted when Drilon asked if he would waive his right to the accounts as these were supposedly not his. "Meron po akong account dati sa Citibank, Metrobank, UOB (pero) di ko matandaan yung figures (I had accounts with Citibank, Metrobank, and UOB but I don't remember those figures)," Yambao said during the hearing. Senate President Juan Ponce Enrile asked Yambao whether anyone can withdraw and deposit money to his accounts without his knowledge. Yambao, however, denied knowing about the deposits supposedly made to his account. "So far wala po akong natatandaan (So far I cannot remember)," he said. Bank records Yambao then asked Drilon how they obtained his bank records. "As far as I am concerned, hindi ko po winaive ang aking karapatan under the bank secrecy law (I did not waive my right to the bank secrecy law)," he said. Drilon explained that the AMLC secured the permission of the court to look into his accounts on suspicion that he was a tax evader. Acquired P300 million while unemployed During the hearing, Drilon also revealed that Yambao supposedly acquired P300 million in cash and assets from 1999 to 2004 even though he was unemployed. These assets allegedly include a 290-square meter unit in Essensa Forbes Condominium in Fort Bonifacio, Global City that Yambao reportedly bought in 2005 for P25 million. The property is now said to be valued at P35 million. Yambao admitted that the condominium unit was his and that he pays monthly dues for it. However, he refused to divulge who lives there. Yambao also revealed that he had gone abroad several times since 1987, usually for supposed business transactions. He said he specifically went to Europe, Japan, Las Vegas in the United States and to Sydney and Melbourne in Australia. He admitted that he has owned a house in Australia for eight or nine years now, for which he supposedly pays taxes. Drilon said Yambao retired in 1999 and did not file an income tax return from then until 2004. Yambao, however, said it was unfair to accuse him of illegally accumulating wealth because he supposedly earned enough money to buy the luxuries that he has. He said he has been a businessman since the 1980s, mainly a trader and item supplier to local supermarkets. However, Yambao refused to reveal his income. He also said he had undergone several "transactions" with some people for additional income. He even said he had paid a final tax for the transactions through the bank. However, when asked to present a certificate of payment, Yambao said he failed to keep the records. Transfer of funds Aside from the cash deposits, Drilon also asked Yambao whether he knew a certain Ma. Cristina Mercado Laurel, to whom the accounts of the Ligots were suppposedly transferred. Yambao admitted that Laurel was his friend but said it wasn't true that the Ligots' accounts were transferred to the Laurels. Asked to explain further, Yambao refused, saying the matter is still pending with the Sandiganbayan. Yambao also pointed out he was not a "dummy" of his brother-in-law. "Hindi ko rin po kasalanan na ako ay naging brother-in-law ng isang dating heneral ng AFP (It is not my fault that I became the brother-in-law of a general of the AFP)," he said. Jacinto Ligot was the predecessor of Carlos Garcia, who is also accused of amassing more than P300 million in state funds while he was still in service. Ligot was comptroller from 1999 to 2001. 'Ligot, Yambao liable for tax fraud' After the hearing, Drilon told reporters that based on the revelations made during Thursday's Senate inquiry, Ligot and Yambao are liable for tax fraud. "I’m calling on [Commissioner] Kim Henares [of the Bureau of Internal Revenue] to start working on a tax evasion case against Ligot and Yambao," he said. He explained that for the P255 million cash deposits alone, Yambao is liable for P91 million in unpaid taxes while Ligot is liable for over P120 million in income taxes given the cash inflow that can be traced to him. Drilon, however, said that he does not plan to question the two anymore in the next hearing, saying that the documents in his possession are enough to prove that Yambao served as the dummy for Ligot. "Yambao is lying through his teeth and I did not want to ask for his detention because it will ...[merely] divert the attention," he said. - VVP/JV, GMA News