Comelec Chairman Andy Bautista Allegedly Owns 70% of LDB deposits

Commission on Elections (Comelec) chairman Juan Andres D. Bautista had been viral lately mostly at Social Media - Facebook, after being exposed by his own wife. And today, another massive expose' had been disclosed by current seating Senator Francis “Chiz” Escudero. 

After the controversial expose' release of Patricia 'Tisha' Paz Bautista, the wife of Comelec Chairman Juan Andres 'Andy' Bautista who have just resigned from his post as COMELEC chair, regarding the enormous amount of P1 billion php unexplained wealth of the latter, Chair. Bautista has yet to face another expose' after Senator Chiz Escudero allegedly state that the latter owns 'a whopping 70% of all the deposits in Luzon Development Bank (LDB).'

Senator Escudero said, “Ang Luzon Development Bank, hindi ganoon kalaking bangko pero hindi ko rin naman sila minamaliit. Ang katuwang assets nila humigit kumulang P5 billion,”

“Ang problema, pag pinagsama-sama mo yung mga accounts ni Chairman Bautista at pinagsama-sama mo yung accounts ng PCGG sequestered corporations na nasa ilalim niya noon, humigit kumulang sisenta hanggang sitenta porsyentong naka-depositong pera sa LDB ay galing sa kanilang dalawa lamang na parehong kontrolado ni Chairman Bautista,” he added

Escudero even said that it is quite suspicious for the PCGG which is under Chair. Andy Bautista that time, to keep bank accounts of sequestered firms at LDB, which is not a government related depository bank.

Since Malacañang has already accepted Andy's resignation which is effective immediately, differ from what the Chair requested till end of this year, Escudero said that it will be much easier to request Andy's presence in the investigation for his now a regular citizen of the Philippines.

Escudero said, “Mas madali na siyang ipatawag ngayon [sa committee hearing] dahil pribadong mamamayan na siya.”

Meaning, the Senate banks committee, which Escudero chairs will continue the investigation of the said case even Bautista is resign.

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