COA commissioner Lipana’s net worth rose by 120% from 2022 to 2024, SALNs show

The declared net worth of Mario Lipana – one of several government officials linked to the flood control controversy – went up by P14.5 million in the past two years that he served as a commissioner of the Commission on Audit, his Statements of Assets, Liabilities, and Net Worth showed.

GMA Integrated News Research secured copies of Lipana’s SALNs from January 2022 when he was appointed to the COA by then President Rodrigo Duterte until December 2024.

In Saleema Refran’s report on “24 Oras” on Wednesday, a check of Lipana’s SALNs revealed that his net worth went up by 120.532% – from P12.03 million in January 2022 to P26.53 million in December 2024, or a difference of P14.5 million.

Lipana was first linked to the flood control controversy when he was mentioned by ex-DPWH Undersecretary Roberto Bernardo as having asked him for a referral to the DPWH Bulacan 1st District Engineering District.

Ex-district engineer Henry Alcantara said he talked to Lipana in 2022, who asked him for a list of flood control projects in Bulacan that can be funded by the DPWH.

Alcantara claimed that Lipana’s budget request was funded under the unprogrammed appropriations in 2023 at P500 million, 2024 at P400 million, and 2025 at P500 million.

According to Lipana’s first SALN as COA commissioner in January 2022, Lipana declared a net worth of P12.03 million.

A big part of this came from his eight real estate properties valued at P7.03 million. He also had P4.5 million in cash in bank and on hand, but did not report any liabilities.

In December 2022, or in less than a year, his net worth climbed up to P19.03 million. He also got married to Marilou Laurio that year.

Lipana’s wife is the president and general manager of Olympus Mining and Builders Group Inc. that secured P1.89 billion worth of infrastructure projects from 2023 to 2025, according to data from the Department of Public Works and Highways.

Lipana declared his wife as a businesswoman in his SALN, and also did not declare any business interests and financial connections.

His cash on hand and in bank increased by three times, jumping to P12 million in less than a year.

In December 2023, his net worth rose to P23.53 million. His SALN now listed nine real estate properties instead of the previous eight properties. The additional property was a house and lot in Bulacan worth P1.5 million.

Lipana’s cash in bank and on hand also went up to P15 million. His 2023 SALN did not list any liabilities.

By December 2024, the COA commissioner’s net worth has reached P26.53 million according to his SALN, which also reflected his cash on hand and in bank to be at P18 million.

The value of his real estate properties remained at P8.53 million. Just like past years, Lipana did not declare any liabilities in his latest SALN. — JMA, GMA Integrated News