Abi Binay explains parents’ P630-M wealth includes dad’s campaign contributions

Makati City Rep. Mar-len Abigail Binay on Wednesday said that the P630-million cash flow her parents had accumulated in the last 27 years include the P231 million in campaign contributions that her father, Vice President Jejomar Binay, received for the 2010 elections.

In a statement, Abi explained that the P630.88-million total gross cash flow of her father and mother, former Makati Mayor Dr. Elenita Binay, consists of the following:

• P331.34 million from JCB Farms, the piggery business that the Vice President started in 1994;
• P14.06 million in salaries as a public official from 1986 to 2013;
• P4.65 million from the Vice President’s professional fees as a lawyer from 1986 to 1988 and 1992 to 1993;
• P49.35 million from Blooms and Bouquet, the flower shop owned by Dr. Binay; and
• P231.48 million in total campaign contributions that the Vice President received for the previous national polls.

The Vice President previously served as Makati mayor from 1986 to 1998, and from 2001 onwards before winning in the 2010 elections.

Over the weekend, Abi explained the sources of her parents’ earnings to show they did not amass any ill-gotten wealth.

The lawmaker said her parents’ wealth and their sources can be verified in the annual Statement of Assets, Liabilities and Net Worth (SALN) and income tax returns (ITR) they have filed over the years.

“These and other official documents, such as the Statement of Contribution and Expenditure filed with the Comelec after elections, can clearly show that their earnings were made through honest means,” she said.

The Vice President has dismissed the allegations of corruption against him as part of a well-oiled and well-financed plan to derail his presidential bid in 2016. — BM, GMA News