Trial of Joseph Estrada
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trial In law, a trial is a coming together of Party (law), parties to a :wikt:dispute, dispute, to present information (in the form of evidence (law), evidence) in a tribunal, a formal setting with the authority to Adjudication, adjudicate claims or d ...
of
Philippine The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...
president President most commonly refers to: *President (corporate title) *President (education), a leader of a college or university *President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ful ...
Joseph Estrada Joseph Ejercito Estrada, (; born Jose Marcelo Ejercito; April 19, 1937), also known by the nickname Erap, is a Filipino politician and former actor. He served as the 13th president of the Philippines from 1998 to 2001, the 9th vice preside ...
(''People of the Philippines v. Joseph Estrada, et al.'', 26558 Sandiganbayan, September 12, 2007) took place between 2001 and 2007 at the Sandiganbayan. Estrada, popularly called Erap, was resigned from office in 2001 during a popular uprising in Metro Manila after an aborted impeachment trial in which he was charged with
plunder Looting is the act of stealing, or the taking of goods by force, typically in the midst of a military, political, or other social crisis, such as war, natural disasters (where law and civil enforcement are temporarily ineffective), or rioting. ...
and perjury. Soon after his ouster, the same charges were filed against him at the Sandiganbayan. After a lengthy trial, the Sandiganbayan ruled Estrada not guilty of perjury while ruling him as guilty of plunder and sentenced him to
reclusión perpetua (Spanish, from la, reclusio perpetua, lit=permanent imprisonment) is a type of sentence of imprisonment in the Philippines, Argentina, and several other Spanish-speaking countries. Laws by region Philippines In the Philippines, it is one of t ...
. All of his co-accused were acquitted.


The trial


Charges filed

A few months after the January 2001 popular uprising that ousted Estrada, the Philippine Ombudsman filed two charges at the Sandiganbayan on April 4, 2001; one for plunder and the other for perjury. The plunder case consisted of four separate charges: acceptance of 545 million
pesos The peso is the monetary unit of several countries in the Americas, and the Philippines. Originating in the Spanish Empire, the word translates to "weight". In most countries the peso uses the same sign, "$", as many currencies named "dollar" ...
from proceeds of jueteng, an illegal gambling game; misappropriation of 130 million pesos in excise taxes from tobacco; receiving a 189.7-million-peso commission from the sale of the shares of Belle Corporation, a real estate firm; and owning some 3.2 billion pesos in a bank account under the name ''Jose Velarde''. The minor charge of perjury is for Estrada under-reporting his assets in his 1999 statement of assets, liabilities and net worth and for the illegal use of an alias, namely for the Jose Velarde bank account. Estrada's son,
Jinggoy Estrada Jose Pimentel Ejercito Jr. (; born February 17, 1963), also known as Jinggoy Ejercito Estrada or simply Jinggoy Estrada, is a Filipino politician, film actor, and producer serving as a Senator since 2022, and previously from 2004 to 2016. He ...
, a former
senator A senate is a deliberative assembly, often the upper house or chamber of a bicameral legislature. The name comes from the ancient Roman Senate (Latin: ''Senatus''), so-called as an assembly of the senior (Latin: ''senex'' meaning "the el ...
, and Edward Serapio, his personal lawyer, were his co-accused. Also charged were Charlie Ang, Yolanda Ricaforte, Alma Alfaro, Eleuterio Tan, Delia Rajas, and Jaime Dichaves, who was later added. The plunder charge was based upon a complaint filed before the ombudsman by Dante Jimenez, human rights lawyer Romeo Capulong, trial lawyer Leonard de Vera, 1971 Constitutional Convention delegate Ramon A. Gonzales, lawyers
Antonio T. Carpio Antonio Tirol Carpio (; born October 26, 1949) is a former associate justice of the Supreme Court of the Philippines. He was sworn in as member of the High Court by President Gloria Macapagal Arroyo on October 26, 2001, and served until his ret ...
and Dennis B. Funa. One complaint was docketed as OMB-0-00-1756 (Romeo T. Capulong, Leonard de Vera and Dennis B. Funa v. Joseph Ejercito Estrada et al.; see Victor Tan Uy v. Office of the Ombudsman et al., G.R. No. 156399-400, June 27, 2008). On January 22, 2001, two days after his implied resignation from office, President Estrada was ordered by the ombudsman to file his counter-affidavit in answer to the complaints. Finding the probable cause, the complaint would be filed as Criminal Case No. 26558.


Arraignment and plea


Prosecution's case

The Philippine government's prosecution team was led by Special Prosecutor Dennis Villa-Ignacio and other government lawyers. Their case against Joseph Estrada was based on the following:


Defense's case

Former President Joseph Estrada's defense panel, led by Estelito Mendoza and composed of former Supreme Court justices and other celebrated Philippine lawyers, based their defense on the following points: President Estrada recalls the Arroyos plotting with the civil society and the military in January 2000, to take over a year later; The House of Representatives impeaching him without debate and voting; The Senate blue-ribbon committee not hearing him out; The Impeachment Court not citing for contempt the losers in a democratic debate and voting; and the Supreme Court conniving with the elite to swear in then-Vice President Gloria Macapagal Arroyo at 12:20 p.m. of January 20, 2001, -(Manila Times, September 30, 2007) 1. The whole process is against the constitution. a) the legal possibility of removing a sitting president is by impeachment. Paguia, one of Estrada's lawyers, argues former President Estrada was not convicted and removed by the Senate acting as an Impeachment Court, therefore it is unconstitutional to subject him to the jurisdiction of the Sandiganbayan. -(Manila Times, September 14, 2007) b) the Supreme Court relied on a biblical, not constitutional passage, with President Estrada still in the Palace c) the same Court created a special division for President Estrada (not done in the case of the Marcoses and the cronies and the military). d) Actually, the plot to oust President Estrada was planned by the then-Vice President Arroyo, who met with some political and religious leaders calling for a what she called "Transition Government" under her rule. 2. The Sandiganbayan did not find him guilty of stealing a single centavo of public money. (Manila Times, September 30, 2007) Lead counsel Estelito Mendoza insisted there is no evidence Estrada received bribe money from jueteng lords. There was also no evidence he received commission money or checks from the Belle transactions. The one who admitted to receiving bribe money from gambling lords was former governor Chavit Singson of Ilocos Sur. But he was not charged as a co-conspirator. He ran for senator in May 2007 but lost. 3. Fabrication of evidence: Manrique, a former action officer of the Volunteers Against Crime and Corruption (VACC), narrated in his affidavit how he, sometime in the last week of October 2001, was contacted by a lawyer(State Prosecutor Dennis Villa-Ignacio) who represented himself as a member of the prosecution team in the Estrada cases. Manrique said the lawyer convinced him to file another perjury case against the deposed president since the original case filed by the Ombudsman was deemed to be weak and insufficient in evidence. The lawyer added Manrique's complaint against Estrada had to be antedated to make it appear that even before the Ombudsman had filed his own case, 4. Saguisag, one of Estrada's lawyers said the defense will base its legal argument on the prosecution's failure to indicate in the information that Estrada had received jueteng money “by reason of his public office,” “There was no allegation that it was received by reason of his public office. That’s one of the elements of plunder,” (inquirer, September 2007) 5. The Sandigan special graft court has an image problem. It is not perceived as being impartial or independent or even fair. Reynato Puno has one of the worst trust ratings for a public figure. (Manila Times September 12, 2007)


Verdict

Initial reports of the nature of the conviction pronounced Estrada guilty of the PHP 545 million jueteng case and the Belle Corporation case, while the other two charges were dropped. The sentence of
reclusión perpetua (Spanish, from la, reclusio perpetua, lit=permanent imprisonment) is a type of sentence of imprisonment in the Philippines, Argentina, and several other Spanish-speaking countries. Laws by region Philippines In the Philippines, it is one of t ...
also includes the return to the government of the over PHP 200 million Erap Muslim Youth foundation and PHP 189 million Jose Velarde monies, the penalty of civil interdiction, and perpetual absolute exclusion from public office. The Court also ordered the arrest of all the other co-defendants in the case. On September 12, 2007,
Joseph Estrada Joseph Ejercito Estrada, (; born Jose Marcelo Ejercito; April 19, 1937), also known by the nickname Erap, is a Filipino politician and former actor. He served as the 13th president of the Philippines from 1998 to 2001, the 9th vice preside ...
was acquitted of perjury but found guilty of
plunder Looting is the act of stealing, or the taking of goods by force, typically in the midst of a military, political, or other social crisis, such as war, natural disasters (where law and civil enforcement are temporarily ineffective), or rioting. ...
and sentenced to
reclusión perpetua (Spanish, from la, reclusio perpetua, lit=permanent imprisonment) is a type of sentence of imprisonment in the Philippines, Argentina, and several other Spanish-speaking countries. Laws by region Philippines In the Philippines, it is one of t ...
with the accessory
penalties Penalty or The Penalty may refer to: Sports * Penalty (golf) * Penalty (gridiron football) * Penalty (ice hockey) * Penalty (rugby) * Penalty (rugby union) * Penalty kick (association football) * Penalty shoot-out (association football) * Penalty ...
of perpetual disqualification from
public office Public Administration (a form of governance) or Public Policy and Administration (an academic discipline) is the implementation of public policy, administration of government establishment (public governance), management of non-profit establ ...
and forfeiture of ill-gotten
wealth Wealth is the abundance of Value (economics), valuable financial assets or property, physical possessions which can be converted into a form that can be used for financial transaction, transactions. This includes the core meaning as held in the ...
. On September 12, 2007, Sandiganbayan's Presiding
Justice Justice, in its broadest sense, is the principle that people receive that which they deserve, with the interpretation of what then constitutes "deserving" being impacted upon by numerous fields, with many differing viewpoints and perspective ...
Teresita de Castro and two other
magistrates The term magistrate is used in a variety of systems of governments and laws to refer to a civilian officer who administers the law. In ancient Rome, a '' magistratus'' was one of the highest ranking government officers, and possessed both judici ...
unanimously acquitted his son, Senator
Jinggoy Estrada Jose Pimentel Ejercito Jr. (; born February 17, 1963), also known as Jinggoy Ejercito Estrada or simply Jinggoy Estrada, is a Filipino politician, film actor, and producer serving as a Senator since 2022, and previously from 2004 to 2016. He ...
, and a
lawyer A lawyer is a person who practices law. The role of a lawyer varies greatly across different legal jurisdictions. A lawyer can be classified as an advocate, attorney, barrister, canon lawyer, civil law notary, counsel, counselor, solic ...
Edward Serapio of
plunder Looting is the act of stealing, or the taking of goods by force, typically in the midst of a military, political, or other social crisis, such as war, natural disasters (where law and civil enforcement are temporarily ineffective), or rioting. ...
charges. The Fallo of the 262-page Decision declared the forfeiture in favor of the
government A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a ...
: ₱542.701 million (
bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...
accounts including
interest In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct ...
), ₱189 million (Jose Velarde accounts including interest) and the
Boracay Boracay (; often locally shortened to Bora) is a resort island in the Western Visayas region of the Philippines, located off the northwest coast of Panay. It has a total land area of , under the jurisdiction of three barangays in Malay, Akla ...
mansion A mansion is a large dwelling house. The word itself derives through Old French from the Latin word ''mansio'' "dwelling", an abstract noun derived from the verb ''manere'' "to dwell". The English word '' manse'' originally defined a property l ...
in New Manila,
Quezon City Quezon City (, ; fil, Lungsod Quezon ), also known as the City of Quezon and Q.C. (read in Filipino as Kyusi), is the List of cities in the Philippines, most populous city in the Philippines. According to the 2020 census, it has a populatio ...
. Only the fallo or dispositive part of two
judgments Judgement (or US spelling judgment) is also known as ''adjudication'', which means the evaluation of evidence to make a decision. Judgement is also the ability to make considered decisions. The term has at least five distinct uses. Aristotle s ...
were read (resulting to only 15 minutes judicial
proceedings In academia and librarianship, conference proceedings is a collection of academic papers published in the context of an academic conference or workshop. Conference proceedings typically contain the contributions made by researchers at the confere ...
). During the reading of the judgment, witnesses said Joseph Estrada cried; his wife, Luisa Ejercito Estrada, Jackie Ejercito Lopez,
San Juan San Juan, Spanish for Saint John, may refer to: Places Argentina * San Juan Province, Argentina * San Juan, Argentina, the capital of that province * San Juan, Salta, a village in Iruya, Salta Province * San Juan (Buenos Aires Underground), ...
Mayor Joseph Victor "JV" Ejercito, (Estrada's son with Guia Gomez), other family members and
mistresses Mistress is the feminine form of the English word "master" (''master'' + ''-ess'') and may refer to: Romance and relationships * Mistress (lover), a term for a woman who is in a sexual and romantic relationship with a man who is married to a d ...
(including, Laarni Enriquez) all
wept Crying is the dropping of tears (or welling of tears in the eyes) in response to an emotional state, or pain. Emotions that can lead to crying include sadness, anger, and even happiness. The act of crying has been defined as "a complex secreto ...
during the
promulgation Promulgation is the formal proclamation or the declaration that a new statutory or administrative law is enacted after its final approval. In some jurisdictions, this additional step is necessary before the law can take effect. After a new law ...
by the clerk. Estrada's lawyer Estelito Mendoza stated that Estrada will file a
motion In physics, motion is the phenomenon in which an object changes its position with respect to time. Motion is mathematically described in terms of displacement, distance, velocity, acceleration, speed and frame of reference to an observer and mea ...
for reconsideration (before September 27) of the 262-page Judgment and then
appeal In law, an appeal is the process in which cases are reviewed by a higher authority, where parties request a formal change to an official decision. Appeals function both as a process for error correction as well as a process of clarifying and ...
the verdict to the High Tribunal. The Philippine Chamber of Commerce and Industry said it will support a
presidential pardon A pardon is a government decision to allow a person to be relieved of some or all of the legal consequences resulting from a criminal conviction. A pardon may be granted before or after conviction for the crime, depending on the laws of the ju ...
for Estrada.
Jinggoy Estrada Jose Pimentel Ejercito Jr. (; born February 17, 1963), also known as Jinggoy Ejercito Estrada or simply Jinggoy Estrada, is a Filipino politician, film actor, and producer serving as a Senator since 2022, and previously from 2004 to 2016. He ...
said "The people will receive this with moral outrage and disgust. The time of reckoning will come. That time may not be too far now. This verdict is intended to legitimize the occupancy of an illegal tenant in Malacanang." Estrada, in Filipino '' barong tagalog'' (
pineapple The pineapple (''Ananas comosus'') is a tropical plant with an edible fruit; it is the most economically significant plant in the family Bromeliaceae. The pineapple is indigenous to South America, where it has been cultivated for many centuri ...
fibre dress shirt and
cream Cream is a dairy product composed of the higher-fat layer skimmed from the top of milk before homogenization. In un-homogenized milk, the fat, which is less dense, eventually rises to the top. In the industrial production of cream, this process ...
trousers) with his
trademark A trademark (also written trade mark or trade-mark) is a type of intellectual property consisting of a recognizable sign, design, or expression that identifies products or services from a particular source and distinguishes them from others ...
wristband Wristbands are encircling strips worn on the wrist or lower forearm. The term can be used to refer to a bracelet-like band, similar to that of a wristwatch, to the cuff or other part of a sleeve that covers the wrist, or decorative or function ...
stated that "I thought the role of justice would prevail here but really it's a kangaroo court." President
Gloria Macapagal Arroyo Maria Gloria Macaraeg Macapagal Arroyo (, born April 5, 1947), often referred to by her initials GMA, is a Filipino academic and politician serving as one of the Deputy Speaker of the House of Representatives of the Philippines, House Deputy Spe ...
stated that the court's decision must be accepted: "We hope and pray that the rule of law will prevail." Estrada's
counsel A counsel or a counsellor at law is a person who gives advice and deals with various issues, particularly in legal matters. It is a title often used interchangeably with the title of ''lawyer''. The word ''counsel'' can also mean advice given ...
Rene A.V. Saguisag issued the statement:"It's victors' justice. It's ruling class justice. The special division (of the court) was programmed to convict. We never had a chance." Estrada will
appeal In law, an appeal is the process in which cases are reviewed by a higher authority, where parties request a formal change to an official decision. Appeals function both as a process for error correction as well as a process of clarifying and ...
the verdict and would be under automatic review at the
Supreme Court of the Philippines The Supreme Court ( fil, Kataas-taasang Hukuman; colloquially referred to as the ''Korte Suprema'' lso used in formal writing is the highest court in the Philippines. The Supreme Court was established by the Second Philippine Commission on Ju ...
. Estrada told AFP that he was resigned for the latest
drama Drama is the specific mode of fiction represented in performance: a play, opera, mime, ballet, etc., performed in a theatre, or on radio or television.Elam (1980, 98). Considered as a genre of poetry in general, the dramatic mode has been ...
in his
presidency A presidency is an administration or the executive, the collective administrative and governmental entity that exists around an office of president of a state or nation. Although often the executive branch of government, and often personified by a ...
: "last and best performance of my life." The prosecution's lead counsel Dennis Villa-Ignacio proudly asserted: "It shows that our judicial system really works. This is the last chance for the state to show that we can do it, that we can charge, prosecute and convict a public official regardless of his stature." Joseph Estrada rose from obscurity to having been top
Filipino film The Cinema of the Philippines (Filipino: ''Pelikulang Pilipino'' or ''Sine Pilipino'') began with the introduction of the first moving pictures to the country on August 31, 1897, at the ''Salón de Pertierra'' in Manila. The following year, local ...
star, then hit the mark, by claiming the
presidency A presidency is an administration or the executive, the collective administrative and governmental entity that exists around an office of president of a state or nation. Although often the executive branch of government, and often personified by a ...
until destiny sent him to
jail A prison, also known as a jail, gaol (dated, standard English, Australian, and historically in Canada), penitentiary (American English and Canadian English), detention center (or detention centre outside the US), correction center, correc ...
. He stated to AFP "I feel depressed, but it's my style not to show it." Before the release of the fatalistic judgment, he warned that he prevent his fans from making street protests. Estrada returned to his
villa A villa is a type of house that was originally an ancient Roman upper class country house. Since its origins in the Roman villa, the idea and function of a villa have evolved considerably. After the fall of the Roman Republic, villas became s ...
in Tanay,
Rizal Rizal, officially the Province of Rizal ( fil, Lalawigan ng Rizal), is a Provinces of the Philippines, province in the Philippines located in the Calabarzon region in Luzon. Its capital is the city of Antipolo. It is about east of Manila. The p ...
(driven on from a golf cart), to the
helicopter A helicopter is a type of rotorcraft in which lift and thrust are supplied by horizontally spinning rotors. This allows the helicopter to take off and land vertically, to hover, and to fly forward, backward and laterally. These attributes ...
) The court permitted him to return to his villa, "until further orders".


Appeal

On September 26, 2007, Joseph Estrada appealed by filing a 63-page
motion In physics, motion is the phenomenon in which an object changes its position with respect to time. Motion is mathematically described in terms of displacement, distance, velocity, acceleration, speed and frame of reference to an observer and mea ...
for reconsideration of the Sandiganbayan judgment penned by Teresita de Castro (submitting 5 legal grounds). Estrada alleged that the court erred "when it convicted him by acquitting his alleged co-conspirators." On October 5, 2007, the Sandiganbayan's Special Division ruled to have set for October 19, oral argument (instead of a defense reply) on Joseph Estrada's motion for reconsideration. Estrada asked court permission to attend the hearing, since it ordered the prosecution to file comment before October 11.


Pardon and release from detention

On October 22, 2007, Acting Justice Secretary Agnes Devanadera stated that Joseph Estrada is seeking a "full, free, and unconditional pardon" from President
Gloria Macapagal Arroyo Maria Gloria Macaraeg Macapagal Arroyo (, born April 5, 1947), often referred to by her initials GMA, is a Filipino academic and politician serving as one of the Deputy Speaker of the House of Representatives of the Philippines, House Deputy Spe ...
. Estrada's lawyer Jose Flaminiano wrote Arroyo: "The time has come to end President Estrada's fight for justice and vindication before the courts. Today onday we filed a withdrawal of his Motion for Reconsideration." Estrada, 70, stressed the "delicate condition" of his mother in asking for pardon. On October 25, 2007, President Gloria Macapagal Arroyo granted
executive clemency A pardon is a government decision to allow a person to be relieved of some or all of the legal consequences resulting from a criminal conviction. A pardon may be granted before or after conviction for the crime, depending on the laws of the ju ...
to Joseph Estrada based on the recommendation by the Department of Justice. Acting Executive Secretary and Press Secretary Ignacio R. Bunye quoted the signed order: "In view hereof in pursuant of the authority conferred upon me by the Constitution, I hereby grant Executive clemency to Joseph Ejercito Estrada, convicted by the Sandiganbayan of plunder and imposed a penalty of reclusion perpetua. He is hereby restored to his civil and political rights." Bunye noted that Estrada committed in his application not to seek public office, and he would be free from his Tanay resthouse on October 26, noon. On October 26, 2007, after almost seven years of detention, Joseph Estrada was finally released after the Sandiganbayan promulgated the resolution.


Aftermath

On September 14, 2007, chief presidential legal counsel Sergio Antonio Apostol officially stated that Sandiganbayan Justices Teresita de Castro, Diosdado Peralta and Francisco Villaruz Jr. should decline Judicial and Bar Council nomination and await other vacancies to ease pressure on President Gloria Macapagal Arroyo: "Para hindi na maipit ang Presidente (In order to spare the President from pressure), they should withdraw their nomination. Parang iyong nangyari kay Justice (Gregory) Ong (Remember what happened in Justice
Gregory S. Ong Gregory Santos Ong (born May 25, 1953) is a Filipino jurist and a former Justice of the Sandiganbayan. He was initially appointed as an Associate Justice of the Supreme Court of the Philippines, Associate Justice of the Supreme Court of the Philip ...
’s case) ...It’s a sacrifice on her part..Hindi niya maiwanan (ang posisyon) (She cannot leave the Sandiganbayan) because of the case of Joseph Estrada - Erap (Estrada’s nickname)." In the aftermath of the verdict, De Castro, Villaruz and Peralta are now at the receiving end of two unsolicited advices from key officials.
Senate of the Philippines The Senate of the Philippines (Filipino: ''Senado ng Pilipinas'', also ''Mataas na Kapulungan ng Pilipinas'' or "upper chamber") is the upper house of Congress of the bicameral legislature of the Philippines with the House of Representatives as ...
Majority Leader Francis Pangilinan, ex-officio member, Judicial and Bar Council stated that the three Sandiganbayan justices "should have the delicadeza entlenessnot to accept a promotion to the highest tribunal to dispel any suspicion that they pronounced Mr. Estrada guilty expecting a reward from Palace ... We do not want to see a cloud of suspicion over the appointees to the Supreme Court. They should always be above suspicion." On November 5, 2007, Senator Jinggoy Estrada, in a privileged speech vowed to block the appointment to the Supreme Court of Sandiganbayan Justices Teresita De Castro and Francisco Villaruz, Jr. (who convicted his father - President Joseph Estrada). Jinggoy said that: "Such a promotion would seem like a reward in exchange for the guilty verdict against the deposed President. We are convinced, then and now, that the special court created to exclusively try the case of President Estrada was established precisely to convict him, which is what exactly happened." Also, Joseph Estrada opposed court seizure of his assets, stating that: "These properties are mine. I acquired them way back when I was still a movie actor." On December 4, Sandiganbayan Special Division chairperson Teresita de Castro was appointed as the new associate justice of the
Supreme Court of the Philippines The Supreme Court ( fil, Kataas-taasang Hukuman; colloquially referred to as the ''Korte Suprema'' lso used in formal writing is the highest court in the Philippines. The Supreme Court was established by the Second Philippine Commission on Ju ...
. On January 10, 2008, Edgardo Urieta, Sandiganbayan chief of the Sheriff and Security Services Office released the two-page report (based on thirteen-page Banco de Oro to the Sandiganbayan Special Division) which discovered intact due to the 2001 levy by BIR distraint - ₱1.107 billion ($1 = ₱41) account of
Joseph Estrada Joseph Ejercito Estrada, (; born Jose Marcelo Ejercito; April 19, 1937), also known by the nickname Erap, is a Filipino politician and former actor. He served as the 13th president of the Philippines from 1998 to 2001, the 9th vice preside ...
: ₱500 million - "promissory note and chattel mortgage"; 450 million shares of Waterfront Philippines valued at ₱427.5 million; and 300 million shares of Wellex Industries worth ₱84 million; cash deposits in a common trust fund investment account of ₱95.76 million.


Reactions

The Philippine government, through Presidential Spokesperson Ignacio Bunye has issued a statement to the effect of the government's respect and deference to the authority of the Sandiganbayan, and the hope that this "sad" episode in the country's history will not "permanently distract" the country from peace and progress. President
Gloria Macapagal Arroyo Maria Gloria Macaraeg Macapagal Arroyo (, born April 5, 1947), often referred to by her initials GMA, is a Filipino academic and politician serving as one of the Deputy Speaker of the House of Representatives of the Philippines, House Deputy Spe ...
canceled a scheduled attendance at a gathering of business leaders in Makati City that afternoon due to security reasons.Security threats thwart Arroyo attendance in econ briefing
GMANews.tv. Retrieved Sept. 12, 2007. President Arroyo was scheduled to drop by the Philippine Mid-Year Economic Briefing which was to be held 1:30 p.m. at the Rizal Ballroom of the Makati Shangri-La Hotel. The
Philippine Stock Exchange The Philippine Stock Exchange, Inc. ( fil, Pamilihang Sapi ng Pilipinas; ) is the national stock exchange of the Philippines. The exchange was created in 1992 from the merger of the Manila Stock Exchange and the Makati Stock Exchange. Includin ...
recovered from a two-day slump, closing at 3,307.60 points, up by 1.21%. The
Philippine peso The Philippine peso, also referred to by its Tagalog name ''piso'' (Philippine English: , , plural pesos; tl, piso ; sign: ₱; code: PHP), is the official currency of the Philippines. It is subdivided into 100 ''sentimo'', also called ce ...
moderately strengthened against the US dollar.


References


Estrada guilty of plunder; perjury rap dropped
The Philippine Daily Inquirer, September 12, 2007.


Bibliography

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External links


Inquirer.net, Key dates in case of ex-Philippines leader EstradaGMA NEWS.TV, A one-stop, multimedia microsite: The Estrada plunder trial verdictGMA NEWS.TV, Estrada Plunder TrialTOC Plaintiff's MemorandumPlaintiff's MemorandumNOTES ON PLUNDER CLOSING STATEMENTSGMA Video, Court Session on Joseph Estrada's verdict

GMA Video, Sandigan finds Erap guilty of plunderGMA Video, Interview with Estrada after convictionGMA Video, Estradas overcome with sadness, after verdict
{{DEFAULTSORT:Trial Of Joseph Estrada 2001 in the Philippines 2002 in the Philippines 2003 in the Philippines 2004 in the Philippines 2005 in the Philippines 2006 in the Philippines 2007 in the Philippines Political corruption in the Philippines Estrada, Joseph Presidency of Gloria Macapagal Arroyo Joseph Estrada