Vice President Sara Duterte received ₱2.14 million in “return of capital” payments from GenCorp Industries Inc. between 2022 and 2025, according to defense witness and corporate lawyer Suzette Balucanag-Punay.
She said the payments came from the Jollibee Times Square branch, where Duterte had an earlier investment, but denied that the Vice President was involved in its operations.
Senate Presiding Officer Francis Escudero questioned why the payments were 45 times higher than Duterte’s original ₱46,875 investment.
Punay admitted she could not explain the difference and agreed that the amount could be considered income.
Her testimony was presented during Duterte’s impeachment trial concerning allegations of ill-gotten wealth and incomplete disclosure of assets.
Source: PhilNews24 | November 12, 2026
SARA DUTERTE RECEIVED GENCORP CAPITAL REFUND WORTH ₱2.14M, WITNESS SAYS
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