Estrada Falsified Papers, Banker Testifies
In a shocking revelation, a bank executive Friday told the impeachment trial of Philippine President Joseph Estrada that she saw him sign a false name to documents withdrawing $10 million from a secret personal account.
The allegation, the most damaging evidence yet in Estrada’s case, would be in violation of graft laws. The news stunned the Senate impeachment court and put the nation on edge.
The vice president of the nation’s third-largest bank told the court that she watched Estrada sign the fictitious name “Jose Velarde” to draw $10 million from an undeclared personal account.
“When he signed Jose Velarde, I just couldn’t believe it,” said Clarissa Ocampo, a senior vice president at Equitable PCI Bank. “He did not sign his real name, so I decided not to authenticate the signatures.”
Ocampo said she took the documents to the presidential palace for Estrada to sign on Feb. 4, 1999. Ocampo said the money was for a loan to a private company.
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