Wednesday, June 13, 2007 Gwen second richest among Capitol execs
GWENDOLYN Garcia begins her second term as governor of Cebu with a total net worth of just over P82 million.
Based on documents submitted to the Office of the Ombudsman-Visayas, she is the second richest government official at the Capitol, next only to Vice Gov. Gregorio Sanchez Jr.
She also has the most number of relatives working in government, at 15.
That number includes her father, former Cebu governor Pablo Garcia, who used to serve as one of her consultants but is now congressman-elect of the second district. It also includes her brother, Pablo John, who too was once her consultant but is now the incoming congressman of the third district.
The governor’s net worth is P10 million less than what was contained in the Statement of Assets, Liabilities and Net Worth (SALN) submitted to the anti-graft office in 2005.
Garcia, in her updated SALN for last year, posted a P2- million increase in real properties and declared additional assets of P8,660,535 in cars and jewelry, although her accumulated assets with the GGC Group Inc. and GGC Enterprises Inc. have basically remained the same, at P49,250,656.86.
But she also declared an increase in personal liabilities – P36,119.666.89 in bank loans and P6,100.854.96 in other payables.
In 2005, her stated liabilities only reached P21,085,460, representing loans and mortgages of GGC Enterprises. The GGC Group and the GGC Enterprises are both based in Ormoc City.
Sanchez, for his part, declared a net worth of P93,272,114.
In an independent accountant’s report signed by Grace Socorro Larceña-Yomo, the vice governor—the man behind the Lacto Pafi Techno Resource Corp.—declared 29 parcels of land, nine automobiles and two cabin cruiser yachts.
He also posted P74 million more in other assets over an accrued business-related liability of P53 million because of long-term payables and advances made by affiliated companies.
In 2005, his declared net worth was pegged at P75, 282,275.
However, not all Capitol officials have submitted their SALN, a financial statement mandated by Republic Act 6713, the Code of Conduct and Ethical Standards for Public Officials.
Among Provincial Board (PB) members, for example, only five SALNs were available at the anti-graft office: those of Agnes Magpale, Estrella Yapha, Rose Marie Durano, Jose Ma. Gastardo and Raul Bacaltos.
Magpale, wife of Executive Justice Arsenio Magpale of the Court of Appeals Cebu Station and president of the Northeastern Cebu Colleges and the JDA Corp., declared a total net worth pf P29.9 million. She declared real properties and other assets worth some P42.9 million, versus a P13-million payable to Metrobank.
Yapha, for her part, declared a net worth of P8.3 million, followed by Durano with P4.08 million, Gastardo with P2.97 million and Bacaltos with P2.08 million.
Board Member Yapha is the wife of Rep. Antonio Yapha who ran for governor against Garcia during the last election but lost.
Yapha, herself ran for congresswoman of the third district, but lost to the governor’s brother, Pablo John. (KNR)
