Contreras: Robredo’s Meralco stocks could be at least P6.46 million pesos. She did not declare this. This is an impeachable offense

Uh-oh! If we follow the logic behind the Corona impeachment, the future looks bleak for Robredo as the latter has been accused of misdeclaring her SALN.

Here’s why?

According to Prof. Antonio Contreras, Robredo misdeclared her Meralco stocks worth millions of pesos in today’s share value.


Leni Robredo admitted to Mike Enriquez during a radio interview on May 9 that she owned stocks at Meralco. She also admitted that such had a value of 95k pesos in 1995.

Robredo did not declare the value of these stocks, and while she declared owning stocks, the value of such is not listed in her SALN as an asset.

Now after doing some crowd-sourcing and math, here is what I found out.

I could not get the share prices of Meralco stocks in 1995. What I got thanks to Carlos A Jr Cortes is the value in 2000 which is 4 pesos per share.

Using this, and this is even conservative since the price in 1995 must have been lower than 4 pesos, then Robredo owned at least 23,750 shares of stocks (95k divided by 4).

The current share price of Meralco is 272 pesos per share. If we use this value, then Robredo has at least 6.46 milion pesos (at least 23,750 shares multiplied by 272 pesos per share) of assets which she failed to declare in her SALN.

Using the Corona precedent, this is an impeachable offense.

And this does not even include the fact that she did not divest from Meralco, in violation of Article VII, Section 13 of the 1987 Constitution.

Robredo admitted this during an interview with Mike Enriquez. Here’s the transcript of the convo between Robredo and Enriquez.

ROBREDO: Siguro dahil wala naman talagang basehan. Wala kaming kopya nung impeachment complaint, pero yung nakukuha namin sa balita ay iyong mga sinabi nilang mga basehan. Parang hindi naman ito…hindi naman ito pang-impeachment. Alam ninyo iyong impeachment, dapat siya iyong last recourse, pero iyong mga sinasabi nila, hindi din totoo. Halimbawa iyong reklamo nilang meron akong Meralco shares na hindi dineclare, naka-declare po iyon sa SALN.
ENRIQUEZ: Share sa Meralco, gaano katagal na kayong meron noon?
ROBREDO: 1995 po.
ROBREDO: 95,000 worth.
ENRIQUEZ: Magkano?
ROBREDO: P95,000.
ENRIQUEZ: Nung 1995, magkano na ngayon iyon?
ROBREDO: Actually, hindi ko alam.
ENRIQUEZ: So mula nung 1995, hindi ninyo binebenta, hindi ninyo—
ROBREDO: Hindi, kaunti lang naman siya. Parang—kung hindi ako nagkakamali, 10 pesos o 100 pesos iyong isang share.
ENRIQUEZ: Ah ganoon.
ROBREDO: Alam ninyo iyong 1995, may mga nagbenta noon doon sa amin, bumili iyong asawa, pero every year, after 1995, naka-declare siya.
ENRIQUEZ: Opo. Bukod po sa mga shares sa Meralco, may iba pa bang korporasyon kung saan kayo may sapi o share?
ROBREDO: Ngayon po, wala na. Dahil nung nag-Congresswoman ako, nag-divest kami. Pero dati kasi may korporasyon iyong pamilya ng asawa ko. Nung public official pa iyong asawa ko, kabahagi ako ng korporasyon, pero nung nag-Congresswoman ako, nag-divest ako.

Prof. Antonio Contreras shared his observations below.

1. She admits to having shares in Meralco.
2. She admits that the value of the shares in 1995 was 95k (22 years ago)
3. She admits divesting in other business interests but not in Meralco.

Fact is, while Robredo declared the shares in her SALN, SHE DID NOT INDICATE THE VOLUME OR VALUE, and such was not included in her assets.
Hence, she misdeclared in her SALN.
And by the Corona precedent, that is an impeachable offense.

In case you’ve missed this, Atty. Bruce Rivera and company is set to file an impeachment case against Robredo on the ground of failing to properly declare her Meralco shares in her SALN.

On Twitter, Atty. Barry Gutierrez insists in the ANC interview that Robredo’s Meralco shares were listed in her SALN.

Rivera’s statement below should give us an idea why Robredo will have sleepless nights in the event the impeachment case against her will start rolling in Congress.

“We looked at her Statement of Assets, Liabilities, and Net Worth and we found that she has Meralco shares that are stated only as business interest without any amount. That is, by itself, a misdeclaration. And that was the reason why [Chief Justice Renato] Corona was impeached,” said Rivera.

Your thoughts, please!

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