Prosecution witness and forensic financial analyst Alexander B. Cabrera answers questions from defense counsel Atty. Kristine Ferrer during the 38th day of the Senate impeachment trial of Vice President Sara Duterte at the Senate in Pasay City. (Courtesy: Joseph B. Vidal | Wendell D. Alinea | Senate Social Media Unit)
Forensic financial expert Alexander Cabrera told the Senate impeachment court on Monday that Vice President Sara Duterte’s alleged undeclared wealth could reach P1.5 billion under a broader assessment of financial records and assets, up from his original estimate of P817.87 million.
Cabrera gave the higher figure after presiding officer Sen. Francis “Chiz” Escudero asked him to estimate the possible maximum amount if the assumptions used in the prosecution’s financial report were relaxed.
“Around P1.5 billion,” Cabrera replied.
He clarified that the amount was a hypothetical upper estimate, not a revised finding submitted by the prosecution.
Cabrera identified three potential adjustments: about P475 million in confidential funds, additional discrepancies in records from the Anti-Money Laundering Council (AMLC), and a higher assumed ownership interest in GenCorp.
The firm is a Davao‑based company that VP Duterte declared as one of her business interests in her 2024 and 2025 Statements of Assets, Liabilities and Net Worth.
Cabrera said his original computation excluded about P475 million in confidential funds covering a two-year period, citing a legal principle concerning the possible personal use of public funds that had not been properly liquidated.
He referred to the Supreme Court’s ruling in Martinez v. Sandiganbayan in discussing the potential legal implications of unliquidated funds.
However, including the funds in a personal wealth computation would require separate factual and legal justification.
Cabrera said incorporating additional discrepancies identified in AMLC records could increase the estimate by about P100 million.
Another adjustment involved GenCorp, in which he initially attributed a 20-percent ownership interest to Duterte based on her sworn asset declarations and previous business arrangements.
Assuming a 45-percent ownership interest and adjusting the company’s alleged undeclared income could increase the computation by about P250 million, he said.
Escudero asked whether the P1.5-billion figure represented the possible maximum amount of alleged undeclared wealth from 2022 to 2025 without double-counting assets.
“That’s correct,” Cabrera replied.
Escudero also said P463.05 million of Cabrera’s original P817.87-million estimate would remain even if all corporate components involving GenCorp, Cale88 Foods Corporation and Metro City Chow were excluded.
The presiding officer further asked whether unpaid taxes and other liabilities should be deducted when determining the net value of the questioned assets.
Cabrera agreed that established liabilities would have to be deducted from either the original P817.87-million estimate or the hypothetical P1.5-billion upper estimate.
He maintained that his original report used a conservative approach to avoid overstating the alleged financial discrepancies based on the available documents.
The prosecution’s Article II allegations concern wealth allegedly disproportionate to Duterte’s lawful income, inaccurate asset declarations and the continued holding of business interests while serving as Vice President.