Philippine President Joseph Estrada suffered a stinging setback at his impeachment trial yesterday when a surprise witness testified the president had signed a bank agreement under a false name to invest US$10 million.
The apparently damning testimony by Equitable-PCI Bank vice-president and trust officer Clarissa Ocampo proved the former movie actor had amassed "hidden unexplained wealth" in violation of the anti-corruption law, the prosecution said.
It said the funds came from accounts maintained at the bank by Estrada which amounted to 1.2 billion pesos (US$24 million).
Estrada appeared to brush aside the development.
"I don't know what's with her," he said at the presidential palace when asked about Ocampo's testimony. "I will not talk about the case ... let my lawyers answer."
He said he was at a special mass when Ocampo testified and had not watched the live telecast of the proceedings.
Estrada's lawyers strenuously protested against the introduction of Ocampo on the grounds that her testimony was irrelevant.
But they were overruled by the impeachment court in which the country's 22-member Senate is acting as judge.
The trial stems from allegations Estrada took about 400 million pesos in bribes from illegal gambling syndicates and pocketed 130 million pesos of excise taxes.
Estrada will be removed from office if found guilty of any of the charges, which include corruption, bribery, betrayal of public trust and culpable violation of the constitution. He denies any wrongdoing.
A vote by a two-thirds Senate majority is required to convict and remove him from office.
Ocampo said she went to Malacanang presidential palace in February this year with an investment agreement for 500 million pesos (US$10 million).
"The president, Joseph Ejercito Estrada," she said, when asked by a prosecution lawyer who signed the agreement in the name Jose Velarde.
She said she was seated beside Estrada "just a foot away" at the time. Three other people including another bank officer and Estrada's then chief-of-staff, Aprodicio Laquian, were also present, Ocampo said. Ocampo said also that Estrada signed a signature card, relating to the investment, which she said was intended as a loan to a local business group, the Wellex group.
Friday was to have been a short day of proceedings at the trial and the court was scheduled to recess by 4pm and meet again on Jan. 2 after the Christmas break.
But prosecutor Joker Arroyo asked for special permission to present Ocampo, a witness who he said was in danger of her life. He said allowing her to testify would provide the security she needed.
The testimony dragged late into the night as the defense objected time and again to Ocampo's statements and to the introduction of the documents at issue.
The trial was adjourned later after Arroyo said he would prove the funds earmarked for investment were ill-gotten.
He said one other Equitable-PCI official was willing to testify with the consent of the new management of the bank.
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