MANILA – Lawmakers reviewing the financial records of Vice President Sara Duterte flagged what they described as inconsistencies in her statements of assets, liabilities, and net worth (SALNs), particularly the absence of reported liquid assets in recent years and a sharp increase in declared wealth.
During Wednesday’s impeachment proceedings at the House Committee on Justice, Mamamayang Liberal Party-list Rep. Leila de Lima pointed out that Duterte’s SALNs from 2019 to 2024 no longer listed cash on hand or bank deposits, despite such entries being present in earlier filings.
De Lima said the sudden disappearance of these liquid assets raises concerns about the accuracy and completeness of the Vice President’s disclosures, noting that cash holdings are a fundamental component of financial reporting.
She also called attention to changes in how liabilities were declared. Records showed that Duterte previously reported millions of pesos in obligations between 2016 and 2020, with amounts gradually decreasing over time. However, starting in 2021, no liabilities were listed under her name, while similar obligations appeared under her husband, lawyer Manases Carpio.
Officials from the Office of the Ombudsman confirmed during the hearing that the liabilities reflected in Duterte’s more recent SALNs were attributed to Carpio, including personal loans listed in filings from 2021 onward.
For de Lima, the pattern suggests more than a routine change in reporting. She said the shifts could affect how Duterte’s overall financial position is presented and should be carefully examined by the panel.
In addition, lawmakers noted the steady growth of Duterte’s net worth. From approximately PHP34.9 million in 2016, it rose to over PHP71.6 million by 2022, when she assumed office as Vice President, and further increased to about PHP88.5 million in 2024.
De Lima said these developments—rising wealth alongside missing liquid asset declarations and changes in liability reporting—warrant deeper scrutiny as the committee continues its evaluation of the Vice President’s financial records.
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