Coming at the heels of the reports scrutinizing the President’s assets and liabilities comes reporters zeroing in on the properties of the President’s sons. The other day, Vera Files broke an investigative story on Arroyo sons acquire U.S. homes, businesses after election to Congress. The report focused on two properties, each owned by one of the President’s sons.
The first is a property on Park Street in Foster City belonging to Rep. Juan Miguel Arroyo and his wife:
Readers who commented on this document suggest that:
1. The property was bought for $925,000 with a downpayment of $185,000 and a mortgage of $740,000.
2. Rep. Arroyo then essentially sold the property to his wife for $1,320,000 with a $264,000 downpayment and two mortgages totaling $1,056,000.
While the Palace has asked the public not to jump to conclusions, the President’s combative eldest son,in the clip above, stated two things which complicates the story.
First, he stated the property attributed to him was actually owned by a corporation in which he had shares. But Vera Files pointed out California property still in Angela’s name, records show. Here’s the online record of the history of the property’s ownership (via San Mateo Country LandDocs website; click here for a larger view):
Second, he also stated no one lives in the property. Perhaps that assertion will stand or fall on a lawyerly appreciation of what constitutes habitation.
If you go to Google, you can find the property as follows (click here for a larger view):
And if you go to Google Street View (which began in 2007, a year after the Pampanga Representative acquired his property; therefore any photo published by Google was taken after the property was already in the hands of Rep. Arroyo) you will see this (click here for a larger view):
And if you zoom in, you can get a closer view of the house and its garage (click here for a larger view):
Potentially, that’s a Mercedes SL550R in the garage and a Mercedes R350 parked outside. With a Ford pickup truck disgorging or loading something into the garage at the time Google took its picture. Proof of habitation or just a visit?
The second item in the Ver Files story is a property on California Street, in San Francisco, belonging to Rep. Diosdado Arroyo and his wife:
Scrutiny of this property has only begun, and is more difficult because it’s an apartment.
As far as both properties go, while questions have been raised, the Arroyo sons can say they have, at least, declared the properties. What might truly be explosive is if there are other properties, but that would require possibly having to pierce various corporate veils. But the press smells blood.
Reporters will probably be tracking down Premier Financing, which facilitated the purchase of a few properties here. Premier Investments,a real estate brokerage firm (property sales, mortgages, etc.) run by a certain Anthony J. Arroyo and wife Maybelline, who supposedly meets the President and family when they’re in the USA, will be a firm reporters will look into, too.
Raissa Robles has done the spadework on the official disclosures of Rep. Mikey Arroyo from 1993 to the present. It makes for very intriguing reading.
Note: My appreciation to “thegreatest” (also commenting in Robles’ blog) for assistance with the documents and photos used in this entry.