00:01Prosecutors present 96 million pesos in managers' checks to establish a quote-unquote pattern of concealment by Sarah and Rodrigo
00:09Duterte.
00:10The Commission on Audit affirms the disallowance of the Office of the Vice President's 73 million peso confidential funds.
00:17A Makati City Court orders the arrest of Batangas Congressman Leandro Leviste over alleged violation of the Public Service Act.
00:24Investors rush to buy shares in the initial public offering of GCash, with at least one trading app briefly overwhelmed.
00:30And the unemployment rate in the Philippines eases to 5.3% in August 2026.
00:44Prosecutors present 96 million pesos in managers' checks as they sought to establish a pattern of concealment with year-end
00:50balances of Vice President Sarah Duterte and her father
00:53former President Rodrigo Duterte.
00:55Witness BPI Division head Marwin Galvez confirms the father and daughter had a joint time deposit account opened in January
01:022010 with a principal amount of 40.65 million pesos.
01:07The account was renewed 12 times and reached 41.72 million pesos after its final rollover in February 2011.
01:15Defense lawyer Michael Poa objects to the presentation of the bank records and questions their relevance to the case.
01:21Senator Judge Ping Laxon then asks prosecutors whether they were trying to establish a pattern aimed at proving concealment through
01:28their direct examination.
01:29Private Prosecutor James Bryan Ibrahim Ali says,
01:32We wanted to establish a pattern up, but the point eventually is that the manager's check that the manager's check
01:39is not paid in the year-end balance because the money is floating in the year-end balance.
01:44Senator Judge Pam Aquino asks Galvez whether deliberately purchasing manager's checks and leaving them unutilized was a known practice in
01:51banking circles.
01:53Galvez says it was usual for some manager's checks to be unutilized and requested to be returned.
01:58I don't know if I can't answer, Your Honor.
02:02I can't remember if the other clients were purposely going to buy a manager's check to return again after six
02:11months.
02:12Senator Judge Sherwin Gatchalian says he reviewed Duterte's statements of assets, liabilities, and net worth for 2010 and 2011 but
02:19did not find the 96 million peso time deposits.
02:22Meantime, Senator Judge Kiko Pangilinan asks how many insurance policies the vice president and her husband, Mads Carpio, had in
02:29total.
02:30So the total number of insurance policies?
02:35According to our clerk of court, it's 19 insurance policies.
02:3919.
02:40Excluding the shares and bonds that were manifested earlier.
02:4719. Okay, for the record.
02:51The Commission on Audit affirms with finality the disallowance of the Office of the Vice President's 73 million peso confidential
02:58funds under Vice President Sara Duterte.
03:01COA issued a notice of disallowance over 69.78 million pesos spent by Duterte's office for rewards and 3.5
03:08million pesos for tables, chairs, desktop computers, and printers.
03:13The expenses were made from December 21 to 31, 2022.
03:16A notice of disallowance is issued for expenses considered illegal, irregular, unnecessary, excessive, or extravagant.
03:23The Commission also reiterates that Duterte, Special Disbursing Officer Gina Acosta, and Chief Accountant Julieta Villa del Rey are personally
03:31liable for the disallowed amounts and must refund that money to the government.
03:35The alleged misuse of confidential funds is among the allegations against Duterte in her ongoing impeachment trial.
03:43A Makati City Court orders the arrest of Batanga's 1st District Representative Leandro Leviste over alleged violation of the Public
03:51Service Act.
03:51The warrant is issued by Makati City Judge Ricardo Moldez II with a bail set at 72,000 pesos.
03:58The Public Service Act, among others, provides for the proper regulation of public services like electricity.
04:04If found guilty, Section 25 of the law punishes individuals or organizations with a fine not exceeding 2 million pesos
04:11and or jail time of 6 years to 12 years.
04:15Leviste and his mother, Senator Lauren Legarda, have been overseas since August.
04:19News of the mother and son's departure came days after Ombudsman Boeing Rimulya announced that different legal actions, plunder, and
04:26graft complaints are currently pending against Legarda and Leviste over solar energy projects.
04:33At least one trading platform is briefly overwhelmed as investors rush to buy shares in the initial public offering or
04:40IPO of Mint, the parent company of Gcash.
04:43A screenshot of the online trading platform G-Stocks seen by Rappler displayed an error notification hours after Mint's IPO
04:50formally opened on Tuesday, October 6.
04:53Mint president and CEO Martha Sazon says platforms went down because of the traffic and that it is, quote, a
04:59good problem for the company.
05:01A local brokerage source tells Rappler Gcash share allocations were immediately oversubscribed.
05:07This means orders exceeded the available shares.
05:10Mint is selling more than 8 billion shares at 6 pesos and 60 centavos each, with a total of around
05:1653 billion pesos.
05:18If Mint also offers its over-allotment option of another 1.2 billion secondary shares, that total may rise to
05:2460.9 billion pesos.
05:26If it does, that will make it the largest IPO in the history of the Philippine Stock Exchange.
05:33The Philippines' unemployment rate eases to 5.3 percent in August 2026 as more Filipinos found work, particularly in the
05:41agriculture sector.
05:43The preliminary data from the Philippine Statistic Authority shows around 2.77 million Filipinos were unemployed in August, down from
05:513.14 million in July.
05:52The unemployment rate likewise fell from 6 percent in July, when it hit its highest level in more than four
05:59years.
05:59But the August figure is worse than the 3.9 percent unemployment rate recorded in the same month of 2025.
06:07National statistician Dennis Mapa says the improvement from July was partly due to fewer fresh graduates entering the labor force
06:13after a surge to the previous month.
06:17And that's today's wrap. I'm Gina Rabaya. Thank you for watching.
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