Vice President Sara Duterte and her husband, Atty. Carpio, allegedly accumulated a total of more than P817 million in undeclared assets and income from 2022 to 2025, according to financial expert witness Alexander Cabrera.
Cabrera, a lawyer-accountant presented as the final witness for Article III of the impeachment complaint, testified before the Senate impeachment court regarding allegations of unexplained wealth following direct examination by House prosecutor and Akbayan Rep. Jose Manuel “Chel” Diokno.
Diokno questioned Cabrera at length about his educational background, work experience as an auditor, accountant-lawyer, involvement with private institutions, advocacies, and qualifications to establish him as an expert witness.
Cabrera then presented a 37-page report analyzing the Statements of Assets, Liabilities, and Net Worth (SALNs) of the Vice President alongside Carpio’s assets, bank balances from 2022 to 2025, declared real properties, insurance policies, investments, and corporate stakes in GenCorp, CALE88 Foods Corp., and Metro City Chow Foods Corp.
According to Cabrera’s report, the couple held total undeclared cash amounting to P60.2 million at the end of 2022, P80.7 million in 2023, P23.2 million in 2024, and P43.6 million in 2025.
The report also showed that total undeclared other personal and real properties stood at P76.1 million in 2022, P3.9 million in 2023, P52 million in 2024, and P11.4 million in 2025.
In addition to unlisted cash and real properties, Cabrera’s analysis calculated total computed undeclared income at P50.5 million in 2022, P12.2 million in 2023, P28 million in 2024, and P21.1 million in 2025.
Computed undeclared income from corporate interests in CALE88 and Metro City reached P3.8 million in 2022, P14.8 million in 2023, P86.9 million in 2024, and P36.7 million in 2025.
From GenCorp, computed undeclared income totaled P55.7 million in 2023, P74.1 million in 2024, and P82.9 million in 2025, with no unreported income listed for 2022.
In total, the undeclared assets and earnings reached P190.6 million in 2022, P167.3 million in 2023, P264.2 million in 2024, and P195.7 million in 2025, combining for P817.9 million over the four-year period.
CALE88 Foods Corp., established in 2021 as a banana chips and snacks exporter, lists Carpio as a 47.5-percent owner alongside a business partner holding equal ownership. An Anti-Money Laundering Council report submitted to the court indicated the company received P776 million in inward remittances from 2022 to 2025, including P319.2 million from Chinese firms, before an entity named Pikimong-Pikimong acquired majority ownership in 2025 according to Securities and Exchange Commission (SEC) filings.
Regarding GenCorp, the Vice President included the firm in her SALN, though an SEC witness previously testified that she does not appear as a shareholder in the company’s general information sheets. Senator-judge Paolo Benigno Aquino noted during the proceedings that GenCorp reported P360 million in sales in 2024 while declaring a net profit of P3 million.