Politics · Philippines Bureau
Expert witness maintains VP Duterte held 20% stake in GenCorp
A forensic accounting expert testifying before the House prosecution reaffirmed Monday that Vice President Sara Duterte possessed a significant financial interest in GenCorp Industries Inc. The finding stands despite the absence of formal written documentation typically required to establish such corporate ownership.
LSN Philippines ·
MANILA — Lawyer-accountant Alexander Cabrera, chairman emeritus of Isla Lipana & Co. (PwC Philippines), testified before House prosecutors on Monday that his forensic analysis supports a determination that Vice President Sara Duterte held a 20-percent interest in GenCorp Industries Inc.
Cabrera's assertion is noteworthy for appearing to rely on evidence beyond conventional corporate documentation. In typical business arrangements, ownership stakes are formalized through written contracts, subscription agreements, or share certificates. The witness maintained his conclusion despite acknowledging the absence of such direct contractual evidence linking the Vice President to the company.
The testimony forms part of an ongoing House investigation into the Vice President's financial interests and business dealings. Cabrera's credentials as a senior partner at one of the Philippines' leading accounting firms lend significant weight to his forensic findings, though the methodological basis for establishing ownership without formal documentation remains central to the inquiry.
The case underscores evolving scrutiny of high-ranking officials' undisclosed business connections and the forensic techniques employed to uncover financial relationships in complex corporate structures.