‘Binay willing to undergo lifestyle check’

MANILA, Philippines - Vice President Jejomar Binay is open to submitting himself to a lifestyle check, according to his spokesman on political affairs Cavite Gov. Jonvic Remulla.

In a press conference yesterday, Remulla said that the real property and cash assets of Binay are all legally acquired through his work as mayor of Makati from 1988 until he became vice president in 2010.

He said Binay is willing to submit all the documents pertaining to his assets and liabilities and to a lifestyle check.

Binay’s legal counsel Martin Subido also said the allegations that Binay has amassed ill-gotten wealth as reflected in his statement of assets, liabilities and net worth (SALN) are unfounded.

Subido said that the increase in Binay’s net worth was mainly due to the JCB farms, a piggery business he started in 1994, as well as the disposition of real properties he owned prior to his election as Makati mayor in 1988.

The flower shop of his wife Elenita and Binay’s salary as mayor were the latter’s only sources of income from 1989 to 1991.

“The piggery and flower farm both explain the Vice President and his family’s visibility in Rosario (Batangas),” Subido said.

“As the Vice President has been saying, his life is an open book. He is confident that his SALN will pass scrutiny, as it always has, even during the time of President Arroyo when he was among the leading individuals in the opposition and was subjected to constant harassment,” Subido said.

During the same press briefing at the Office of the Vice President (OVP) at the Coconut Palace in Pasay City, lawyer Princess Turgano said that in 1988 when Binay was first elected as Makati mayor, he had a net worth of P2,527,724.85 and liabilities amounting to P982,406.

Turgano said that in 1988, Binay had seven real properties in San Antonio Village, valued at P106,800; Laguna, P452,000; Alabang Hills in Cupang, Muntinlupa, P12,500; Tunasan, San Pedro, Laguna, P12,500; Cabagan, Isabela, P25,000 and San Pascual, Batangas, P1,645.

She said that Binay’s source of income from 1988 to 1991 was his salary as mayor of Makati, but his wife had a flower shop business, a sole proprietorship under the name Blooms and Bouquet that reported an annual net income of P500,000, P317,077.67 and P805,817.77 for the years 1989, 1990 and 1991.

“In 1989, the Vice President disposed of the Laguna property and invested P400,000 in shares of stocks,” Turgano said.

Turgano said in view of the combined and consolidated income of Binay and his wife, as well as the disposition of the Laguna property, Binay’s net worth for the years 1989, 1990 and 1991 increased by P341,298.05, P574,466.58 and P1,025,067.86, respectively.

“The rent paid by Blooms and Bouquet is duly reported in its audited financial statements,” Turgano said.

Turgano said that in 1992 and 1993 a court case that Binay had been handling even before he was elected mayor in 1988, was decided in favor of his former clients.

She said that for winning his case Binay was paid by his clients a professional fee of P1,038,000 cash and a residential lot worth P3 million in Alfonso, Cavite.

She said as a result, the total consolidated income of Binay and his wife for 1992 and 1993 increased to P2,673,674.20 and P4,796,178.41, respectively.

Turgano said as a result of the fees received, specifically the Alfonso property, the net worth of the Vice President for 1993 increased to P7,749,315.95, or P3,280,758.61 higher than his 1991 worth.

In 1994, Binay started his piggery business in Rosario through a sole proprietorship under the name JCB Farms. JCB is duly registered in the BIR-Rosario, Batangas office, Turgano said.

She said that from 1994 to 2010, Binay earned additional net income from his piggery business in the amount of P44,350,921.88, with paid taxes of P15,889,581.83.