Impeached Chief Justice Renato Corona reported in his statements of assets, liabilities and net worth (SALNs) in 2003 and 2004 that he had obtained an P11-million cash advance from Basa-Guidote Enterprise Inc. (BGEI).
The alleged loan has turned media attention to BGEI, the company established in 1961 by the family of the Chief Justice’s wife, Cristina Roco-Corona, and the internal squabble that pitted one side of the family against another.
At the impeachment trial, Corona’s lawyers said the money [P32.6 million according to the prosecution] withdrawn by Corona from his three peso time deposit accounts with Philippine Savings Bank (PSBank) on Dec. 12, 2011, came from the proceeds of the sale of a piece of BGEI property to the City of Manila. The withdrawals came on the same day that 188 members of the House of Representatives impeached the Chief Justice.
Jose Ma. Basa III, one of the original BGEI stockholders and Cristina’s uncle, had filed an estafa case against his niece for her alleged failure to account for the P34-million income from the sale of a property on Bustillos Street in Sampaloc, Manila, to the city government.
The case, however, was dismissed by the court, and Cristina won a libel case against Jose Ma. III and his wife for putting out a public notice in the Philippine Daily Inquirer which she alleged was malicious and put her in a bad light. Jose Ma. III died not long after in the United States. [The notice appeared in the Classified Section of the Inquirer on June 4, 1995. It announced that Jose Ma. III, who claimed to be a majority stockholder, had filed a criminal case against Cristina for allegedly misappropriating rentals due BGEI.]
Please read the partial interview from Philippine Daily Inquirer!