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Philippines: Bank VP Says Estrada Has Secret Accounts
JAKARTA (IslamOnline & News Agencies) - Equitable PCI Bank senior vice president Clarissa Emerita Ocampo, a surprise witness for the prosecution in the impeachment case of Philippine President Joseph Estrada, said on Friday it was Estrada who signed bank documents under the name of Jose Velarde.
The shocking statement by Ocampo is considered a fatal blow for Estrada and could lead to his dismissal as President since the alleged fraud falls under the country’s anti-graft laws.
Ocampo said she saw Estrada sign a false name to documents withdrawing $10 million from a secret personal account that the President denied possessing. The leader also denied knowing Ocampo and dismissed her testimony.
Prosecutors believe Estrada used that money to buy a mansion for one of his mistresses who will also be called to give testimony in the ongoing impeachment trial.
"Everything she said was the truth except as to who signed the documents...who was [an individual named] Dichaves," lawyer Raymund Parsifal Fortun, a member of the defense panel said, as reported by the Philippines news agency.
Ocampo provided other damaging testimony stating that Estrada signed an investment management agreement, an initial document presented by the prosecution, in her presence in the presidential palace.
She said other bank officials were also present when Estrada signed the documents, including signature cards to attest to the depositor’s identity. Ocampo said she was a foot away from Estrada when he signed the documents.
Prosecutors said they would pin graft charges on Estrada through bank documents signed under the account of Jose Velarde, the name, according to prosecutors, Estrada assumed to hide the bank account.
Prosecutors added that the bankers' testimony "will show that the President owned assets which he had not declared."
The defense has insisted that the incident is not covered by the articles of impeachment that was the basis of the trial against Estrada.
Ocampo had taken the stand Friday afternoon to testify on Estrada's alleged dealings with her bank, Equitable PCI Bank.
Joker Arroyo, one of the congressmen acting as prosecutors in the Senate trial, alleged that people close to Estrada had uncovered the prosecution's plan to present a vital witness which he said has put the life of the witness in grave danger.
He said the only way to protect the witness was to make her take the stand earlier than planned. Thus, taking out the incentive of possible harm to the witness.
Sources state that an unknown individual approached Ocampo informing her to produce fake bank records related to the Velarde account, suspected by the prosecution to be Estrada’s secret account.
Estrada is charged with bribery, graft, betrayal of public trust and violating the constitution. A guilty verdict by two-thirds of the 22-member Senate on any of the four counts would force him from office.
The prosecution has argued throughout the trial that Estrada hid proceeds from graft in a network of bank accounts, most in the Equitable PCI Bank.
The defense team argued they were unprepared for the witness, whose identity was kept secret until she entered the courtroom, but agreed to hear the testimony. The court is scheduled to take a ten-day recess starting Saturday.
In a reaction to the decisive blow, Estrada said he wished the trial were over as soon as possible. He still believes that there are no grounds for the impeachment court to find him guilty.
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