(Screengrab from Senate livestream)
MANILA – Vice President Sara Duterte received more than Php 2.14 million in payments linked to an investment in a Jollibee branch in Davao City, her own defense witness confirmed during Wednesday’s Senate impeachment trial.
Lawyer Suzette Balucanag-Punay, corporate counsel for GenCorp Industries Inc. and Metro City Chow Foods Corporation, testified that Duterte had what she described as a “loose investment” in the Jollibee Times Square branch.
Punay said the investment originated from Davao Bounty Corporation, where Duterte had previously been a stockholder. Although the company failed to secure the franchise, the investment was allegedly carried over to succeeding operators, including GenCorp.
“So, the same loose investment is now carried over to GenCorp,” Punay testified.
She clarified that Duterte’s investment was limited to the Times Square branch and did not constitute ownership of GenCorp itself.
“It is an investment in the specific branch only, meaning it is only in Times Square branch and not the whole corporation, sir,” she explained.
Based on a transaction summary prepared by GenCorp’s accountant, Punay confirmed that Duterte received a total of Php 2,142,369.14 from 2022 to 2025.
The payments included Php 337,500 in 2022, Php 555,750 in 2023, Php 612,419.14 in 2024 and Php 636,700 in 2025.
Punay classified the payments as a “return of capital,” saying they were issued through checks drawn from the Times Square branch’s bank account.
However, Senate impeachment court Presiding Officer Francis Escudero questioned the basis of the payments after Punay admitted she could not establish how much Duterte originally invested.
“What’s the basis of giving her anything?” Escudero asked.
When pressed about the amount of the original investment and supporting documents, Punay acknowledged that no written records were available.
“Unfortunately, Your Honor, I could not verify also the amount because there are no written records for this investment,” she admitted.
Escudero also questioned how the company could classify the payments as returns of capital without records establishing the amount and nature of Duterte’s original contribution.
Punay maintained that the disbursements were connected to the Times Square branch, citing the checks and the separate bank accounts maintained by each outlet.
Meanwhile, Senator-Judge Risa Hontiveros requested a copy of the document Punay used to explain the return-of-capital payments.
The testimony placed Duterte’s reported investment and the documentation supporting the payments under scrutiny as the impeachment court continued hearing evidence related to allegations of unexplained wealth.
The existence of the payments was supported by the transaction summary presented by the witness, but the amount of Duterte’s original investment remained unverified during her testimony.
