Stories tagged
‘estrada wealth’

The other women

THE TRAIL of houses frequented or occupied by President Joseph Estrada and his mistresses leads to some of his closest friends such as businessmen Dante Tan, Mark Jimenez, Lucio Co and Jaime Dichaves. Other presidential friends such as Lucio Tan and Eduardo ‘Danding’ Cojuangco are also said to have made sure that the President’s women would be well provided for, and have even given them or members of their families either businesses or jobs that come with huge incomes.

A transaction marred by fraud

SHORTLY AFTER their wedding in September 1999, presidential daughter Jacqueline Ejercito and her husband Manuel ‘Beaver’ Lopez became the proud new owners of a choice 3,000-square meter property at 518 Buendia Street in snooty Forbes Park, Makati, the most exclusive among all the gated communities in the country.

Estrada’s entrepreneurial families

IN 1998, Jose Victor ‘JV’ Ejercito, then 29 years old, became the biggest shareholder of the newly formed Best World Construction Corp., an affiliate of BW Resources Corp., the gaming company now in the dock for stock manipulation and insider trading.

Estrada family tree

Estrada’s Statements of Assets and Liabilities, 1985-1999

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Can Estrada explain his wealth?

PRESIDENT ESTRADA says his life is an open book. He does not deny the complications of his private life—that he has several mistresses, and that he has sired children by them.

The President, however, has not exactly been forthright about the financial aspects of his private life and the complex ethical issues—such as conflicts of interest—posed by the many and varied business involvements of his various families.