Erap may face another plunder rap for P2-B money laundering

Deposed President Estrada may have to face yet another case of plunder, this time for allegedly laundering some P2.07 billion by forging the signature of a former Filipina beauty queen, according to administration lawmakers.

Rep. Exequiel Javier of Antique, a lawyer by profession, hinted that Estrada, now undergoing trial at the Sandiganbayan for attaining some P4.1 billion in allegedly unexplained wealth, "might face another plunder case if he cannot give a good explanation."

Estrada, for his part, angrily denied the allegation of former 1999 Binibining Pilipinas Joelle Marie Henson Pelaez, who lodged a P500-million lawsuit in connection with Estrada’s purported laundering of government bonds and commercial papers.

"Assuming, I knew her, sino ba siya? Bakit ko naman siya gagamitin (Who is she? Why should I use her)?" Estrada told The STAR by telephone from his resthouse in Tanay, Rizal, where he is being detained.

Estrada alleged that the latest charge against him came from his estranged drinking buddy, Ilocos Sur Luis "Chavit" Singson, the government’s main witness in Estrada’s corruption trial.

Singson’s corruption accusations resulted in Estrada’s impeachment in late 2000.

"That’s perhaps another diversionary attack on me by Chavit," Estrada fumed. "He has been panicking because I have already discredited his testimony in court."

In his recent testimony, Estrada told the Sandiganbayan that he was being framed by Singson.

But Javier said Estrada "has a lot of explaining to do. This is yet another illegal financial transaction allegedly involving Erap, using government bonds, securities and other debt instruments as exposed by the supposed victim herself," Javier said.

The story related by the 29-year-old beauty queen is "easy to believe" in light of the involvement of Estrada crony Jaime Dichavez, who is still in hiding, since he is a "close ally who claimed ownership of the controversial Jose Velarde account," Javier said.

He was referring to Estrada’s supposed alias which he allegedly used to conceal billions in payoffs amassed from an illegal gambling protection racket that he ran during his aborted presidency.

Estrada is currently on trial on plunder and other charges stemming from the bribery accusations.

Javier’s colleague, Douglas Cagas of Davao del Sur, said "Erap cannot just dismiss this case because it happened during his term and involved three of alleged cronies, namely Dichavez, Jimmy Borromeo and Robert Sobrepeña."

Pelaez, who is now based in Los Angeles, charged that Estrada and his cohorts forged her signature from March to December 2000 by making it appear she traded government bonds and commercial paper worth millions of pesos, which she claims was beyond her financial capability.

Bank documents she unearthed revealed that one single transaction even totaled P600 million.

The evidence also showed that she opened peso and dollar accounts in government-sequestered United Coconut Planters Bank (UCPB), where some PCGG commissioners serve as board members.

It was also shown that she sold P1 billion worth of securities to UCPB worth P2.3 million. Another document indicated she had bought from UCPB P1 billion worth of debt instruments from firms heavily indebted to UCPB.

Pelaez said she was shocked upon learning that her signatures had been falsified. "I would not know how to enter into such commercial transactions, and clearly, the amounts involved were beyond my financial capacity."

Justice Secretary Raul Gonzalez ordered the National Bureau of Investigation (NBI) yesterday to look into the allegations. — With Marichu Villanueva, Jose Rodel Clapano