‘Estrada foundation’s transactions legal’

Transactions of the controversial Erap Muslim Youth Foundation were legal and its P200-million fund did not come from jueteng, the defense panel said yesterday.

Lawyer Sabino Acut, counsel of lawyer Edward Serapio, former legal adviser and co-accused of former President Joseph Estrada in the plunder case, presented in court the minutes of the foundation’s meetings on June 5 and July 1, 2000, signed by treasurer George Go, showing the P200 million was supposedly contributed by anonymous donors.

At that time, Go chaired the board of Equitable PCI Bank.

Acut said the minutes of the June 5, 2000 meeting also showed that P10 million came from the Erap Cup golf tournament while the foundation’s trustees personally donated P100,000.

The trustees included Raul de Guzman, Estrada’s brother-in-law and the foundation’s chairman.

Acut said the minutes of the second meeting detailed the proposed mechanics for the evaluation of scholarship applications and set aside money for the grants.

It was in this meeting, Acut said, that Go reported that the foundation had funds amounting to P200,090,201.10, exclusive of interest, at the Equitable PCI Bank branch in Ortigas, and P10 million at the United Coconut Planters Bank head office.

Lawyer Raymund Fortun, Estrada’s spokesman, said the documents clearly showed that the foundation was legitimate. — Jose Rodel Clapano