Congresswoman Jinky Luistro Grilled Harry Roque Over Sudden Wealth Increase

 

Congressional Hearing Reveals Discrepancies in Asset Declarations of Prominent Public Figure

In a riveting congressional hearing, former Presidential Spokesperson Atty. Harry Roque, faced intense scrutiny over the accuracy and transparency of his financial declarations. The inquiry, spearheaded by Congresswoman Jinky Luistro, delved deep into the intricate details of Roque’s Statement of Assets, Liabilities, and Net Worth (SALN), raising serious questions about his compliance with the law.

Roque's SALN Under the Microscope

Atty. Roque confidently asserted that his SALN was a true reflection of his audited financial statements, emphasizing his adherence to Republic Act No. 3019, the Anti-Graft and Corrupt Practices Act, as well as Republic Act No. 6713, the Code of Conduct and Ethical Standards for Public Officials and Employees. He revealed that his latest declared net worth stood at an impressive ₱124 million, underscoring his claim of full transparency.

However, the session took a dramatic turn when Congresswoman Luistro presented two conflicting General Information Sheets (GIS) from Biancham Holdings, dated March 2020 and October 2020, respectively. The March document listed Atty. Roque and his wife as major shareholders, with Roque holding 98% of the company's shares. Astonishingly, by October, their names had vanished, replaced by a certain Percival Ortega, who now owned 99.99% of the company.

The Mystery of the Vanishing Shares

Faced with this startling revelation, Roque explained that the shares had been transferred under a trust agreement to Atty. Ortega, a move necessitated by the involvement of family members in a significant real estate investment in Bataan. Roque disclosed that a substantial portion of the investment came from the proceeds of a 1.8-hectare property sale in Parañaque, a transaction that was partly funded by his elderly aunt, who had since passed away.

Roque asserted that the transfer to Ortega was a temporary arrangement to ensure the proper distribution of the property among his family members, particularly in light of the ongoing settlement of his aunt's estate. This explanation, however, only intensified the committee's interest, prompting further investigation into the legitimacy and transparency of the transfer.

Tax Implications and Legal Consequences

As the hearing progressed, Congresswoman Luistro raised critical concerns about the potential tax liabilities associated with the transfer of shares. She emphasized that if the transfer was executed through sale or assignment, it would necessitate the payment of corresponding taxes. Citing Sections 254 and 255 of the tax code, Luistro warned of the possibility of criminal charges for tax evasion if the proper taxes were not duly paid.

In response, Roque agreed to submit the relevant trust agreements and deed of sale to the committee but expressed unease over the increasingly personal nature of the inquiry. He assured the committee that the funds used in the Bataan property purchase were legally sourced, distancing himself from any involvement with Pogos (Philippine Offshore Gaming Operators), which had been a lingering suspicion throughout the hearing.

Call for Further Disclosure

The committee, not entirely satisfied with Roque's explanations, moved to require the submission of his Income Tax Return (ITR) for the year 2018, filed in 2019, to verify the legitimacy of the financial transactions in question. Roque, while reiterating that the income from the real estate sale was subject to final tax and thus not reflected in his ITR, committed to providing all necessary documents to support his claims.

A Tense Conclusion

The hearing concluded with a directive for Atty. Roque to submit his ITR for 2020 as well, as the committee sought to ensure full compliance with legal requirements. Despite the intense scrutiny, Roque remained firm in his stance, challenging the committee's interpretation of the evidence and defending his professional integrity.

This high-stakes investigation highlights the critical importance of transparency and accountability among public officials. As the inquiry continues, all eyes will be on the next developments, as the committee seeks to uncover the full truth behind the financial dealings of one of the nation's one of the most controversial legal figures.