November 11, 2000, The Philippine Star, Lawyers shocked by Estrada s admission,

November 11, 2000, The Philippine Star, Lawyers shocked by Estrada s admission,

Lawyers of President Estrada were "shocked" by his revelation that millions of pesos in bribes were deposited in an account controlled by his aide, Executive Secretary Ronaldo Zamora said yesterday. Mr. Estrada told the nation about the bank account on Thursday during successive radio broadcasts, ahead of his looming impeachment for alleged corruption. "Frankly, they were shocked," Zamora said of the panel of lawyers that Mr. Estrada had hired to advise him at the impeachment trial. 

Zamora said the legal team, led by retired Chief Justice Andres Narvasa, is now working overtime to contain the damage. Mr. Estrada's lawyers had previously advised the Pre-sident to hold his tongue until it could be determined what the impeachment charges would be. 

Zamora said the impeachment complaint at the House of Representatives "would probably be issued by Monday." "Some of us met yesterday to determine the implications of the statements of the President," Zamora told radio station dzMM. He said the bank account held between "P220 million and P250 million" as of Thursday. 

The impeachment case is largely based on allegations by former presidential friend, Ilocos Sur Gov. Luis "Chavit" Singson, that he delivered to Mr. Estrada more than P400 million in payoffs from illegal gambling operators between November 1998 and August 2000. 

Under the Constitution, if at least two-thirds of the 22-member Senate find there is a "preponderance of evidence" against Mr. Estrada during a trial, he would be removed from office and face possible criminal prosecution and even imprisonment afterwards. 

The month-old political crisis has shaken investor confidence, putting pressure on the peso, interest rates and the stock market. Mr. Estrada's top aides have warned that the economy could slow down unless the crisis is resolved democratically by yearend. In his first detailed response to allegations, Mr. Estrada said Thursday that Singson's aide, Yolanda Ricaforte, delivered the money to lawyer Edward Serapio, the corporate secretary of a charitable foundation set up by the President when he came to power in 1998. 

The foundation plans to sponsor fresh Muslim graduates, who would be "the next generation of Muslim leaders," to postgraduate "liberal education" in the West, Zamora said. "The money that Singson gave me is in the bank, intact," Mr. Estrada said. "I have not spent a single centavo." But he insisted that he previously rejected the money when Singson attempted to hand it over in person. 

The political opposition swiftly pounced on Mr. Estrada's revelation. Hernani Perez, a spokesman for the Lakas-NUCD party, said it proved that Mr. Estrada and his men resorted to "money laundering just like criminal organizations." At least three opposition senators demanded that the money be brought to the national treasury. 

Zamora said Serapio had not advised the President of the existence of the money "until this thing exploded." The lawyer himself was unaware that the account held the purported bribe money because Singson told him that the deposit was a legitimate donation to the charitable foundation, he added.