UNLIKE the security guards he is supposed to represent, Rep. Juan Miguel ‘Mikey’ Arroyo of Ang Galing Pinoy is one of the wealthiest members of the 15th Congress. His fortune flourished during the same years of his mother’s presidency – from P5.72 million in 2001 to P101.35 million in 2009.
HE WAS one of the biggest guns in the Chicago crime scene, but for the longest time U.S. mobster Alfonse ‘Scarface’ Capone was practically untouchable by the authorities. And when he was finally sent to the slammer, the offense he was found guilty of committing had nothing to do with murder or mulcting money.
THEY ARE EQUATIONS that are simple enough for anyone to follow: Anyone who acquires more properties and assets – net of liabilities – should have earned much more to be able to cover these investments. Anyone who incurs huge loans should have been creditworthy to be trusted as capable of paying up. Anyone who sells any properties should have earned from the deal, and paid the taxes due on such sale.
By law, SALNs must contain detailed information on an official’s real and personal properties, loans and other liabilities, and net worth as well as business interests, financial connections and relatives in government.