Toledo officials’ SALNs display contrasts in property ownership

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Saturday, July 12, 2014

IS she a homeless councilor? Her statement of assets, liabilities and net worth (SALN) says so.

Toledo City Councilor Helen Jill Espinosa does not own any house and lot, her 2013 SALN said.

Espinosa listed no real property in her asset declaration, but she owns jewelry worth P300,000 and furniture and fixtures valued at P200,000. That made her worth P.5 million. She also had no liability as of Dec. 31, 2013.


Espinosa is the sister-in-law of Councilor Louis Nicholas Espinosa, who declared the most number of real properties in his SALN for 2013.

Louis Nicholas was worth P12.83 million as of Dec. 31, 2013. The bulk of his wealth comes from his real properties totaling P12,830,893.11.

These include six residential lots in Toledo City, residential lots in the provinces of Quezon and Rizal and another residential lot in Pinamungajan town, which are all inheritance.

Louis Nicholas also bought stocks from Philex Mining and Cebu Holdings, Inc.

Mayor John Henry “Sonny” Osmeña is the richest elected official of Toledo City and among the chief executives of Cebu’s five component cities, with a net worth of P148.68 million.

Osmeña’s wealth comes mostly from his personal properties worth P125.88 million. These include investments in stocks in various companies (P113.69 million), household furniture and appliances (P3.6 million), Toyota Hilux and Isuzu Altera (P2.7 million), and cash in bank (P5.88 million).


His real properties totaled P37.02 million. These include an Ayala 1016 residential condominium (P8 million), another residential condominium in Maryville (P6.40 million), a house and lot in Silay City, Negros Occidental (P6.89 million), a residential lot in Don Salvador Benedicto, Negros Occidental (P10 million), an agricultural lot in Pangamihan (P.5 million), a residential lot in Los Banos, Laguna (P980,000), a residential lot in Dumaguete City (P4 million) and an agricultural lot in Tuburan, Cebu (P250,000).

Osmeña also owns stocks at the Pamplona Plantation Holdings, Pamplona Plantation Golf and Country Club, Pamplona Plantation Leisure Corp., and Pueblo De Pamplona, Inc., which are all based in Negros Oriental.

The former senator listed P14.22 million as his liability as of Dec.30, 2013.

Of the 14 elected officials in Toledo City, the ombudsman so far released the asset declarations of seven officials.

Ranked third on the millionaire’s list is Councilor Merly Abad with a net worth of P2.05 million. Abad’s family owns a residential lot in Toledo City and another residential lot in Talamban, Cebu both, which cost P1 million.

Abad also listed personal properties including furniture (P200,000), jewelry (P100,000) and cash on bank (150,000).

Antonio Borja ranks fourth with a net worth of P1.79 million. His personal properties include a Nissan van (P350,000),Mercedes Benz van (P200,000), Hyundai Starex (P350,000), Toyota pickup (500,000) and multi-cab (P180,000).

Councilors Rogelio Caburnay reported a P1.17-million net worth while Councilor Zosimo Abellanosa posted a net worth of P490,000. (GMD)

Published in the Sun.Star Cebu newspaper on July 13, 2014.

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