PSBank head submits written explanation on refusal to divulge Corona dollar accounts

Complying with orders from the Senate, Philippine Savings Bank president Pascual Garcia III on Thursday submitted a written explanation why he chose to withhold information on impeached Chief Justice Renato Corona's dollar accounts.

 

At the resumption of the impeachment proceedings, Majority Leader Vicente Sotto III informed his colleagues — all sitting as senator-judges — that the Senate received Garcia's letter before noon Thursday.

 

"In compliance, PSBank president Pascual Garcia submitted at noon today compliance why he cannot and did not give information pertaining to [Corona's dollar accounts]," said Sotto.

 

The senator did not immediately divulge the contents of Garcia's letter. Sotto said the impeachment court will first discuss Garcia's letter in a caucus on Monday at 11 a.m. 

 

During last Wednesday's trial, Garcia testified on Corona's five peso accounts with the PSBank totalling to more than P20 million from 2007 to 2010. The witness, however, refused to touch on the magistrate's dollar accounts, saying his counsels advised him not to do so to avoid criminal liability under the country's foreign currency law. 

 

The refusal triggered a debate among senators whether to have Garcia cited in contempt. Sen. Franklin Drilon said Garcia should explain why he did not bring documents on Corona's dollar accounts. Sen. Joker Arroyo, meanwhile, opposed to the idea of citing the witnes in contempt, saying the court should be more "considerate." — Mark Merueñas/RSJ, GMA News