VP Leni Robredo’s net worth drop due to poll protest

Vice President Leni Robredo’s net worth significantly decreased in 2017 due to expenses related to the election protest filed by former Senator Ferdinand “Bongbong” Marcos at the Presidential Electoral Tribunal (PET).

In her Statement of Assets, Liabilities and Net Worth (SALN) submitted to the Office of the Ombudsman on April 30, Robredo said her net worth only amounts to P1,114,102.84, as of December 31, 2017, down by P7.76 million from P8,878,111.43 in December 2016.
Robredo noted in her SALN that she has “lower net worth due to partial counter-protest fee deposited with PET.”

Her net worth dropped when her liabilities ballooned to P11.9 million in 2017 — which is an increase of 72.46 percent from P6.9 million in 2016.

She registered additional loans payable to Pablito Chua (P1 million), Vicente Hao Chin, Jr. (P2 million), and Rafael Bundoc (P2 million); in addition to personal loans from her mother Salvacion Gerona (P750,000), her brother-in-law Jose Robredo Jr. (P1.15 million), her sister-in-law Jocelyn Austria (P2 million), and the estates of her parents-in-law Marcelina and Jose Robredo (P3 million).

Her assets also declined, from P15.78 million in 2016, to P13.01 million in 2017.

Her current assets include include two residential lots, three agricultural lots, a house, an orchard and a memorial lot all located in Naga City, with a total cost of P1.735 million.

She also listed cash (P6.176 million), furniture and appliances (P1.5 million), jewelry (P1 million), prepaid insurance (P630,000), Toyota Innova acquired in 2010 (P1.12 million) and Toyota Grandia acquired in 2014 (P1.75 million).

Robredo declared a net worth of P8,711,083 and P8,302,123.70 in 2015 and 2014, respectively.

Robredo had to deposit P8 million to PET as initial payment for her counter-protest against Marcos after the former senator filed a protest against her in June 2016 to contest her victory in the vice presidential race.

“Yes. She had to borrow money to pay the protest fees required by PET. Supportive citizens raised money through contributions and attempted to submit to PET, but their petition was denied. So the VP had to raise the money herself,” Barry Gutierrez, Robredo’s legal counsel, told reporters.

Robredo’s SALN was released by the Office of the Ombudsman, following the release of President Rodrigo Duterte’s SALN last May 11.

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