Andres Bautista P1 Billion ill-gotten wealth

Andres Bautista’s P1 Billion ill-gotten wealth

On August 7, 2017 Monday, Patricia Cruz-Bautista appeared in public accusing her husband Andres Bautista to have ill-gotten wealth amounting to P1 billion.

Commission on Elections Chairperson (COMELEC) Andres Bautista was under fire when his wife, Patricia Cruz-Bautista, announced in public that he has P1 billion unexplained wealth. The alleged amount is not declared in the Chairman’s Statement of Assets, Liabilities and Net Worth (SALN).

Bautista is the wealthiest among the heads of five constitutional bodies of government. He declared P176.3 million in his SALN as of December 31, 2016 but Patricia said that he has more than that. Patricia gave evidences to the National Bureau of Investigation (NBI) of the said transaction records of cash and accounts of Bautista’s undeclared wealth.

In Patricia’s sworn affidavit to the National Bureau of Investigation (NBI), she accused the chairperson of having more than P336 million in bank accounts and real estate which were all undeclared in Bautista’s SALN. SALN is required to all public officials.

Patricia said that she was so shocked upon discovering those substantial finances, properties and money and she also discovered documents and papers about the chairman’s hidden wealth.

“He has always been frugal in his spending, to say at the least, so to find all this is absolutely shocking,” Patricia said.

“For the record, I was completely shocked and surprised with the discoveries I made about Andy’s substantial finances, properties and money. The time I discovered the documents and papers was actually the first time I learned of Andy’s hidden wealth,” she added.

Bautista’s hidden wealth

Here is the list of the alleged hidden wealth of Chairperson Bautista:

  1. 35 Luzon Development Bank (LDB) passbooks with the amount of P329,220,962
  2. Foreign currency account with Rizal Commercial Banking Corporation (RCBC) worth $12,778.30
  3. RCBC peso account P257,931.60
  4. HSBC account with HKD948,358.97
  5. Unit 17A, The Suite One Bonifacio High Street at Bonifacio Global City
  6. A property in The District in San Francisco California
  7. Investments in loan agreements and interests in corporations:
    a. Mantoya International Ltd., established in Brunei Darussalam on April 26, 2011
    b. Bauman Interprises Ltd., established in British Virgin Islands on September 29,2010
    c. Mega Achieve Inc., established in the British Overseas territory of Anguilla in the Carribean on July 15, 2014

The alleged documents and passbooks were discovered by Patricia at their conjugal house. Patricia submitted all documents to the NBI along with her affidavit.

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