Prosecutors insist ‘Valhalla’ is Estrada

And Jose Valhalla is...

Members of the prosecution in President Estrada’s impeachment trial maintained yesterday that the mysterious Jose Valhalla is actually Mr. Estrada himself.

"Valhalla is Erap, and we will prove that once we succeed in opening that sealed Equitable-PCIBank envelope," Makati Rep. Joker Arroyo said.

He said the ownership by presidential friend Jaime Dichaves of the controversial Valhalla account means nothing.

"As far as we are concerned, Dichaves is a non-entity," he said, adding that Dichaves suddenly surfaced to own up to the account just to save a friend.

One of the signatories to the impeachment complaint, Bohol Rep. Ernesto Herrera, described Dichaves as "just a fall guy."

He said the President probably told Dichaves to claim ownership of the account "so he can save his own skin."

Another prosecutor, Misamis Oriental Rep. Oscar Moreno, said Dichaves is another distraction in the President’s impeachment trial, and that if his confession is true, then this might mean that most currency in circulation is counterfeit.

"Out of the blue, he owned that Valhalla bank account. What I am worried about is that he would next claim that presidential signature appearing on our peso bills is his. That would make all these bills fake," he said.

Arroyo and Moreno make up the prosecution’s Team B, which is handling the corruption charge against Mr. Estrada and the ill-gotten wealth accusation that includes several controversial mansions allegedly owned by the Chief Executive and his mistresses.

When the trial opened last Dec. 7, Arroyo, in his opening statement said a P142-million check was paid by Valhalla to another presidential friend, Jose Luis Yulo.

Yulo deposited the check in another bank before transferring the money to St. Peter’s Holdings, which then purchased the now famous "Boracay" mansion in New Manila, Quezon City.

Arroyo said the signature of Valhalla is similar to that of Mr. Estrada on the P500 bills.

Moreno, a banker for 20 years, said the money used in the purchase of Boracay took a circuitous route typical of the manner jueteng money allegedly intended for Mr. Estrada was hidden.

He said the opening by alleged jueteng auditor Yolanda Ricaforte of several accounts in different branches of Equitable-PCIBank was a "classic case of money laundering."

For his part, Marinduque Rep. Edmundo Reyes, spokesman for the prosecution panel, said Dichaves is insulting the Filipinos’ intelligence by suddenly claiming he is Jose Valhalla and that he issued the P142 million check.

"If he really is Jose Valhalla and he wanted to have Boracay, why would he entrust his P142 million check to Yulo who remitted the money to St. Peter’s Holdings which then bought the mansion? Why didn’t he buy the property directly from its owners?" he asked.

Reyes said the only explanation for this is that Mr. Estrada’s friends are hiding his ownership of the controversial Boracay mansion.

Valhalla’s bank records are contained in the sealed Equitable PCI envelope which is in custody of Senate officials.

Chief Justice Hilario Davide Jr., presiding officer of the impeachment court, has ordered the opening of the envelope.

Meanwhile, Herrera said the designation of a fall guy is Mr. Estrada’s style.

"The designation of a fall guy or sacrificial lamb has always been Erap’s strategy ever since the jueteng scandal erupted," he said.

Herrera recalled that when the President’s former gambling and drinking buddy, Ilocos Sur Gov. Luis Singson, revealed that P200 million in jueteng money went to Mr. Estrada’s foundation, it was presidential lawyer Edward Serapio who admitted receiving the money.
"Serapio was willing to go to prison to protect Erap," he said.

He said when the jueteng scandal involving the President erupted, he blamed his friend, Charlie Ang, and Singson for it.

"This is also the case with Dichaves, who is a willing fall guy," he added. Not only is Dichaves’ admission incredible, the congressman said, it is also intended to confuse the public. — Jess Diaz