Politics · Philippines Bureau
VP Duterte's vague investment generated over P2M returns in four years
A defense witness testified before the Senate impeachment court that Vice President Sara Duterte received more than P2 million in returns from an unspecified investment between 2022 and 2025. The GenCorp counsel characterized the investment arrangement as notably informal.
LSN Philippines ·
MANILA — An attorney representing GenCorp told the Senate impeachment court on Wednesday that Vice President Sara Duterte had placed an undisclosed amount into an investment that generated returns exceeding P2 million over a three-year period.
Atty. Suzette Balucanag-Punay, counsel for GenCorp, described the investment as "loose" in nature while testifying as a defense witness. She indicated that the returns generated during the 2022-to-2025 window represented a substantial sum relative to the initial commitment.
The testimony emerged during ongoing impeachment proceedings examining the Vice President's financial dealings and business arrangements. Balucanag-Punay's characterization of the investment structure as informal raised questions about the nature and documentation of the financial arrangement.
The witness did not provide further details regarding the specific terms of the investment, the identity of other parties involved, or the source of the funds initially committed to the venture. The testimony forms part of a broader examination of the Vice President's financial activities and business interests currently before the Senate.