Prosecution presents docs of Corona firm
February 1, 2012 | 2:22pm
MANILA, Philippines -- At the start of the hearing today, the prosecution panel presented Benito Cataran, director of the Securities and Exchange Commission (SEC), to testify on a company allegedly owned by the wife of Chief Justice Renato Corona.
The prosecution aimed to unveil evidence that the firm, Basa-Guidote Enterprises, was the source of Corona's P11 million cash advance.
Cataran said the firm owned by Corona's wife, Cristina, did not file general information sheet before SEC from 1991-1997.
Prosecution wanted to prove that the P11 million cash advance, as indicated in Corona's statement of assets, liabilities and networth (SALN), is fictitious.
Cataran also said the SEC revoked BGEI registration after it failed to submit general info sheets and financial statements for several years.
But Senator Presiding-Judge Juan Ponce Enrile doubted that the SEC has authority to dissolve a corporation.
The Senate President also pointed out that the SEC official may have misinterpreted the corporation law.
For his part, Senator-Judge Edgardo Angara asked the SEC director on a legal memo regarding dissolution or revocation of the Basa-Guidote Enterprises.
Meantime, former President Joseph Estrada attended the impeachment hearing against Chief Justice Renato Corona today.
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