House prosecutors in the Philippines are preparing to present Land Bank of the Philippines (LandBank) officials and employees next week. These individuals possess firsthand knowledge concerning the processing and withdrawal of $612.5 million in confidential funds that Vice President Sara Duterte allegedly misused. This presentation will be a key part of the impeachment proceedings against her.
Among those expected to testify are former LandBank Shaw Boulevard Branch manager Violeta Constantino and former LandBank Department of Education (DepEd) branch manager Nenita Camposano. These former branch managers are expected to detail the processing, documentation, and release of the confidential funds outlined in the impeachment complaint. The article on confidential funds accuses Duterte of misusing these funds during her time as Vice President and Education Secretary, citing alleged irregularities in disbursement and liquidation, including questionable acknowledgment receipts.
Separately, the Anti-Money Laundering Council (AMLC) confirmed to the House committee on justice that it found both 'covered' and 'suspicious' transactions involving Vice President Sara Duterte and her relatives. Covered transactions are defined as bank transactions exceeding $500,000, which banks are required to report. Mysterious transactions, while not having a set monetary value, are flagged by banks due to their questionable nature or unclear origin of funds. AMLC Executive Director Ronel Buenaventura testified that their system database contains records of both types of transactions related to Duterte and her kin, although he clarified that the subpoena was for transaction reports, not direct access to bank accounts.
The Bureau of Internal Revenue (BIR) has initiated a tax audit of Vice President Sara Duterte, her husband Manases Carpio, and nine associated businesses. This audit follows reports from the AMLC indicating over 33 suspicious transactions and 630 covered transactions totaling $6.7 billion involving the couple. The AMLC also reported a total of $3.9 billion across 417 transactions from 2005 to 2026. House prosecutor Terry Ridon stated that subpoenaed bank and tax records will be compared against Duterte's declared net worth of $88.5 million in her 2024 Statement of Assets, Liabilities, and Net Worth (SALN) and the AMLC's reported $6.7 billion in financial transactions to determine if her wealth aligns with her lawful income. Ridon noted that Duterte's SALNs from 2019 to 2024 did not include a specific line item for "cash in bank" or "cash on hand", despite liquid assets being declared.
