Robredo net worth dips to P1.114 million

The net worth of Vice President Maria Leonor "Leni" Robredo dropped by more than P7.76 million due to oustanding loans made to cover electoral fees required by the Presidential Electoral Tribunal (PET), according to her 2017 Statement of Assets, Liabilities, and Net Worth (SALN).

Robredo declared a lower net worth of P1,114,102.84 "due to partial counter-protest fee deposited with PET." She reported a net worth of P8,878,111.43 in 2016.

A copy of the SALN obtained by GMA News Online on Wednesday shows that Robredo signed her sworn SALN on April 24, or six days ahead of the April 30 deadline mandated under the Code of Conduct and Ethical Standards for Public Officials and Employees.

The dip in Robredo's net worth was mainly caused by an increase in her liabilities or loans payable, which went up by P5 million from P6.9 million in 2016 to P11.9 million as of December 31, 2017.

Robredo acquired a P1-million loan from Pablito Chua and P2 million loan each from Vicente Hao Chin Jr. and Rafael Bundoc, all of whom are relatives of the late Interior and Local Government Secretary Jesse Robredo.

In a text message, Robredo's legal adviser Barry Gutierrez confirmed that the dip in the wealth of the vice president was due to PET's electoral fees.

"Yes, she had to borrow money to pay the protest fees required by PET. Supportive citizens raised money through contributions and attempted to submit to PET, but their petition was denied. So the VP had to raise the money herself," Gutierrez said.

Aside from personal funds, Robredo had said Cua, Chin, and Bundoc were also her sources in covering the initial P8-million counter-protest fee in the pending poll case filed against her by former Senator Ferdinand "Bongbong" Marcos Jr. at the PET. 

She admitted that it was difficult for her to raise the cash deposit, chiding Marcos for using alleged ill-gotten wealth to fund his “return to power.”

The PET started on May 2 the manual recount of the electoral protest of Marcos, who lost to Robredo by more than 263,000 votes.

Robredo' remaining liabilities in her SALN included loans payable to the estate of Marcelina Robredo (P1 million), to the estate of Jose Robredo (P2 million), to Jose Robredo Jr. (P1.15 million), Jocelyn Austria (P2 million) and Salvacion Gerona (P750,000).

Assets

The real properties, personal properties, and business interests of Robredo remained unchanged.

Robredo's real properties, all of which are located in Naga City, amounted to P1,735,000. These include two residential lots, three agricultural lots, one memorial lot, one orchard lot, and one residential house.

Her furniture, appliance and other assets are worth P1.5 million, jewelry worth P100,000, prepaid insurance worth P630,000, and two vehicles—a Toyota Innova acquired in 2010 and a Toyota Grandia purchased in 2014—totaling P2.87 million.

Robredo also has cash amounting to P6,176,102.84 which includes "shares of stock" at Meralco acquired in "different years." —KG, GMA News