Ligot family in 2nd forfeiture case

From Malaya (Jun 4): Ligot family in 2nd forfeiture case

A SECOND forfeiture case was filed yesterday by government against retired Lt. Gen. Jacinto C. Ligot and members of his family, seeking recovery of P55.6 million worth of cash investments and bank accounts that allegedly form part of their ill-gotten wealth.

Ombudsman Conchita Carpio Morales approved the 15-page petition last May 28 based on the recommendation of graft investigation and prosecution officer  Anna Francesca M. Limbo.

Ligot’s co-respondents are his wife Erlinda; children Paulo, Riza and Miguel; brother-in-law Edgardo T. Yambao; and Gilda Y. Alfonso-Velasquez, cousin of Mrs. Ligot.
A previous ill-gotten wealth case filed in 2005 sought forfeiture of real estate assets worth P135.28 million. Named respondents were the Ligot family, Yambao and the former military general’s sister, Miguela L. Paragas. It is still pending.

In the latest case, the government sought confiscation of proceeds of seven investment accounts in the Armed Forces and Police Savings and Loan Association Inc. (AFPSLAI) in the names of Ligot, his wife and their children with a combined value of P1.2 million.

Also eyed by government prosecutors are bank deposits with Equitable PCI Bank, Bank of the Philippine Islands, Land Bank of the Philippines, United Overseas Bank-Philippines, Metrobank, and Citicorp Financial Services and Insurance Brokerage Phil. Inc. (CFSI).

Based on figures obtained by investigators, the CFSI account is under the name of Velasquez and holds P52.525 million.

“With regard to CFSI account No. 5274901001 in the name of Velasquez, evidence indicates that she is not the original owner of this account,” the Ombudsman said.

Based on CFSI’s explanation in a letter to the Court of Appeals dated July 27, 2005, the account was originally in the name of Mrs. Ligot and two of her children, Paulo and Riza Ligot. It was transferred in the name of Velasquez with the submission of “Change of Account Title,” the Ombudsman said.

“That most of the accounts are in the names of Mrs. Ligot, the Ligot children, Yambao and Velasquez is of no moment. They had no sufficient means to open bank deposits or make investment placements in significant sums when the accounts were constituted,” the Ombudsman said.

Ligot retired as comptroller of the Armed Forces in 2004 but the year before he left the military service, he declared a net worth of  P3,248,003.

To preserve the investment placements and bank assets, the Ombudsman asked the Sandiganbayan to immediately issue writs of preliminary attachment over the AFPSLAI, CFSI and bank accounts and to keep them in effect until the case is fully resolved.

http://www.malaya.com.ph/index.php/news/nation/32659-ligot-family-in-2nd-forfeiture-case