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Estrada assets to be confiscated

Posted by Mai on October 31st, 2007

ABS-CBN Interactive
Estrada assets to be confiscated

Come November 7, former President Joseph Estrada will be facing a new headache – the Sandiganbayan will issue a Writ of Execution confiscating almost P900 million worth of his assets.

ABS-CBN’s Ces Oreña Drilon reported that this was stipulated in the ruling handed down by the Sandiganbayan last September 12.

The graft court ruled that since Estrada was found guilty of plunder, he would have to return P545 million deposited in the account of the Erap Muslim Youth Foundation, P189 million in another account under the name of Jose Velarde and P142 million in real property consisting of a house and lot dubbed as Boracay mansion located at No. 100, 11th St., New Manila, Quezon City.

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ABS-CBN Interactive

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