Sara Duterte’s undeclared wealth as vice president reached P817.87M, forensic expert says

MANILA — Vice President Sara Duterte’s undeclared wealth accumulated to P817.87 million from 2022 to 2025, a financial forensic expert told the Senate impeachment court on Friday as the chamber continued to discuss allegations of the second-in-command’s unexplained wealth.

The figures in the report are based on discrepancies between Duterte’s declarations in her Statements of Assets, Liabilities, and Net Worth (SALN) and records from the Securities and Exchange Commission (SEC), the Bureau of Internal Revenue (BIR), and banks where the vice president and her husband hold accounts, said certified public accountant and lawyer Alexander Cabrera—chairman emeritus of PricewaterhouseCoopers Philippines, who conducted the financial forensic investigation. 

The report shows that the bulk of Duterte’s undeclared cash stems from the bank accounts of her husband, Manases Carpio after the forensic investigation showed the following year-end balances that were not seen in the vice president’s SALNs:

– 2022: P41.55 million

– 2023: P49.20 million

– 2024: P13.43 million

– 2025: P28.41 million

Meanwhile, Duterte’s accounts allegedly held the following undeclared amounts:

– 2022: P8.72 million

– 2023: P11.93 million

– 2024: P8.53 million

– 2025: P12.18 million

Duterte and Carpio’s joint accounts allegedly had the following amounts:

– 2022: P8.79 million

– 2023: P9.86 million

– 2024: P1.02 million

– 2025: P1.81 million

“Ang aming nasuri ay banks lang… Maaring mayroon silang hawak na pera sa bulsa, sa pitaka, nasa safe, nasa vault, nasa GCash,” Cabrera said.

“Hindi po kasama dito foreign currency accounts kasi wala po tayong information doon,” he said.

The financial forensic expert pegged the couple’s undeclared personal assets and real estate properties at P143 million in 4 years, while 4 corporations linked to the vice president allegedly held millions in undeclared income.

Duterte and her husband had also engaged in several “questionable banking behaviors,” including the withdrawal of P41 million from 2 banks in Davao City on August 6, 2024. 

“Masyado pong malalaki yung withdrawal in cash. P41 million hindi po normal na withdrawal po yan,” Cabrera said.

“Nangyare po lahat in a span of one hour,” he added.

Bank and credit card records also showed that the couple had a knack of spending hundreds of thousands of pesos on a single meal, as well as shopping sprees both in the Philippines and abroad, Cabrera said. 

The financial forensic report also showed that one of Carpio’s corporations received millions of remittances from the following countries:

– China: P193.95 million

– Ukraine: P7.64 million

– Russia: P6.40 million

– Kazakhstan: P3.62 million

– Lithuania: P3.11 million

– South Africa: P3.04 million

– Tajikistan: P1.90 million

– Hong Kong: P1.69 million

– United Arab Emirates: P1.24 million

Despite these staggering numbers, Duterte’s defense team maintains that this is not yet the proper time to directly rebut these allegations against the vice president. 

“You’ll have to wait for our presentation of evidence in chief. That’s the nature of legal proceedings not just here but even in regular courts, talagang nauuna yung prosecution,” defense spokesperson Michael Poa said in a press conference.

“What is being presented now and what is being considered now is just really the prosecution’s side of things,” he said.

“The defense has its own story to tell so abangan na lang po siguro nila ‘yun.”

Meanwhile, several senator-judges stood firm that despite the well-respected stature of the financial forensic expert, they are still suspending their judgement as Duterte’s camp is expected to present their own set of experts.

“It is not conclusive, it is not binding and it is up to each senator judge to give accorded weight to the expert’s opinion,” impeachment court presiding officer Francis Escudero said. 

“Lahat sa aming nakikita, tinatanggap namin na ito ay opinion. Hindi namin ito tinatanggap as gospel truth,” Sen. Panfilo Lacson said.

“Kapag nag presenta kayo ng sarili ninyong (defense) expert witness, titimbangin namin sino ang mas kapanipaniwala,” he said. 

The defense panel is expected to conduct its cross-examination of Cabrera next week before the prosecution rests its case.