Condos bought before QC lots
were sold, Guingona says

SENATOR-JUDGE Teofisto Guingona III said it was curious that the family of Supreme Court Chief Justice Renato Corona claimed that they sold two lots in Quezon City in order to fund the purchase of two condominium units in Taguig, when in fact the condo purchases were made way before the sale of the Quezon City properties.

At the opening of the 32nd day of the impeachment trial, Guingona took the floor to confirm with the defense panel if the Coronas really sold two lots in Quezon City in 2010.

The properties were in Ayala Heights, sold for P 8 million, and La Vista Subdivision, sold for P18 million.

However, Guingona wondered why, in his 2010 statement of assets, liabilities, and net worth (SALN), Corona said: “We sold two parcels of land in Quezon City to pay for loans for the condominium units.”

Guingona however pointed out that if the QC properties were sold to fund the condo units, then how come the condo units were purchased as early as 2004.

“(Bonifacio Ridge) was fully paid in 2004, and (Bellagio) was paid in 2009,” Guingona asked defense counsel Jacinto Jimenez.

“In this case, nauna ang purchase ng condo before the selling of the Quezon City lots,” Guingona pointed out.

Jimenez however said it was possible that the QC lots were sold by the Coronas to pay for outstanding loans contracted as a result of the purchase of the condominiums. Jimenez added that the question will be addressed in later testimonies by defense witnesses.

“The proceeds were used to pay for the condo and the loans,” Jimenez said. “There must still be outstanding loans which were paid from the proceeds of the sale.”