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Digong explains source of Duterte family wealth

  • Written by Efren Montano
  • Published in Top Stories
  • Read: 355

“NO ill gotten wealth,” President Rodrigo Duterte said as he bared the source of his and his family’s
wealth.

Duterte said he and his siblings made “millions” selling inherited land.
    
In a talk with reporters in Davao City, the president said he and his siblings decided to sell
off pieces of real estate property they inherited from their parents because they were already
quarreling over it.
    
Duterte’s  four siblings are Eleonor, Emmanuel, Benjamin and Jocelyn.
    
“We siblings quarreled over (some pieces of property). So I said, sell,” the President said.
    
“I was a lawyer then,” Duterte said
    
The President said that even before when he was just a student he had already about t P3 million
although he did not explain where the money came from.
    
He said he found it revolting to be accused without basis of amassing wealth from corruption
because his detractors could have easily checked how the Duterte family made money in real estate
transactions.
    
Among the family-owned pieces of real estate property sold was a parcel of land in the village
of Ulas, where a biscuit factory used to be, according to Duterte.
    
The President also mentioned a piece of land near an ice plant in the village of Dumoy which he
and his siblings agreed to sell, too.
    
He also mentioned another family-owned land in “Carriedo.”
    
No details were made available on the land in Dumoy or Carriedo.
    
The President said his siblings wanted to have the lot near the ice plant in Dumoy because it
was prime property. So instead of quarreling, they decided to sell it.
    
“So when we divided (proceeds from the sale), we had our first millions already,”   Duterte
said.
    
He said all the money representing his share from the real estate deals was deposited with the
then “Insular Bank of Asia.”
    
He dared his critics to do the math but he did not provide numbers.
    
“You have to compute it because that was the time we divided our properties when my father
died,” the President said.
    
 Duterte’s father died in 1968.
    
All the land sold sometime in the 1970s were in Talomo District where, according to Bureau of
Internal Revenue Order No. 97 in 2002, the value of land ranged from a low of P550 per square meters for
agricultural lots to a high of P4,500 per square meter for industrial ones.

Applying those rates, the Duterte property in Ulas village would have sold for P90 million.
    
Duterte said many people were knowledgeable about the real estate transactions and could back up
his narration because “a lot of them are still alive.” “
    
“This (is) for all to know. You go back to the trace of … you have to trace it,” he said.
    
He said the pieces of land that were sold and the ones he got as his share were part of
“hereditary properties.”
    
“But those titles now are in the name of my children. All (my) properties,” Duterte said.
    
He also said that his family’s wealth came from logging.

On his bank deposits, he said they could not be more than P600,000 because of expenses. “I have more or
less in the bank. It could be more than P500,000 something or below,” he said.
    
“Maybe almost nearing P500,000. That was my last. They should look at it,”  Duterte said.
    
The one in Unionbank. I hope (Sen. Antonio) Trillanes (IV) would see it,” he added.
 
Duterte said he was hoping some people would get enlightened by his narration.
    
“If you want really to trace my money, start from there (real estate deals),” he said.
    
He repeated a promise that if critics were able to prove that he had ill-gotten funds in the
bank, he would gladly resign as President.
    
“I am telling you, you show any bank account, foreign (or otherwise) and I will step down
tomorrow. I will do that. I am telling you the truth, you are all witnesses to my career,” the President
said.