Drop in Robredo’s net worth due to Marcos election case

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Drop in Robredo’s net worth due to Marcos election case

Vice President Leni Robredo’s current net worth, which shrank by P2 million in her first 6 months in office, does not include her P8-million deposit on the fee for her counter-protest against former senator Ferdinand ‘Bongbong’ Marcos Jr


Patty Pasion

Published 1:40 PM, May 18, 2017

Updated 10:04 PM, May 18, 2017

POORER SINCE BECOMING VP. Vice President Leni Robredo is expected to have an even lower net worth by the end of 2017 as because of the required multi-million peso fee related to her counterprotest against former senator Ferdinand ‘Bongbong’ Marcos Jr. Photo from Leni Robredo Media Bureau

MANILA, Philippines – Expenses in the election case filed by former senator Ferdinand “Bongbong” Marcos Jr pulled down the net worth of Vice President Leni Robredo, her legal adviser said.

“Vice President Leni Robredo’s net worth decreased due mostly to expenses in relation to the election protest filed by Bongbong Marcos, such as filing fee, as well as family and personal expenses,” lawyer Barry Gutierrez said in a statement on Thursday, May 18.

Gutierrez issued the statement two days after the Office of the Ombudsman released Robredo’s Statement of Assets Liabilities and Net Worth (SALN) as of December 31, 2016.

Based on her December 31, 2016 SALN, Robredo’s net worth is at P8,878,111 – around P2 million less than her net worth of P11,053,138 as of June 30, 2016.

The drop was mostly due to the decrease in her cash assets from P11,115,138 in June 2016, to P8,940,111 in December 2016.

Robredo’s net worth is expected to drop further this year, because of the P16-million fee for the recount of votes in the electoral protest filed by Marcos. She had already paid an P8-million deposit on the fee on May 2, funded from her personal money and loans from relatives, and will pay the rest on installment.

Robredo only entered politics in 2013 as Camarines Sur Second District Representative, in response to a strong clamor for her to join local politics. Her husband, former interior secretary and long-time Naga City Mayor Jesse Robredo, died in 2012.

Her previous SALNs showed that her net worth grew from P8.29 million in December 2013 to P11 million in June 2016, or a month after the elections. This value then dropped to P8.8 million by December 2016, 6 months since assuming the vice presidency. – with reports from Katerina Francisco and Michael Bueza/Rappler.com

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