Bank executive testifies Philippine president used false name

Clarissa Ocampo, senior vice-president of Equitable Bank, testifies in the impeachment trial of Philippine President Estrada on Friday

Documents allegedly link Estrada to secret account worth millions

In this story: Defense fails to stop testimony Questionable finances RELATED STORIES, SITES

MANILA, Philippines (CNN) -- A Philippine bank official testified on Friday that Philippine President Joseph Estrada used a false name to sign bank documents linking him to a secret account containing millions of pesos.

Prosecutors allege that Estrada used money from that account to buy a multimillion house for one of his mistresses.

Estrada is a facing impeachment on multiple charges, including allegations that he accepted more than $11 million in bribes and kickbacks from illegal gambling and tobacco taxes.

PROFILES Key players in the Estrada impeachment case     RESOURCES Follow a timeline showing President Estrada's recent political crisis     MESSAGE BOARD Estrada trial

The former Philippine movie star maintained his innocence on Friday, brushing aside the testimony of Clarissa Ocampo, a vice president and trust officer at Equitable-PCI bank.

"I don't know what's with her," Estrada told reporters at the presidential palace, refusing further comment.

In testimony during the trial in the Philippine Senate, Ocampo said she was sitting "less than a foot away" as Estrada used a false name to sign documents investing 500 million pesos (about $10 million) in her bank.

Ocampo said Estrada also signed a signature card with the name Jose Velarde. Ocampo said she was so shocked she refused to authenticate Estrada's signature.

Jose Velarde is the name on a $2.8 million check used to buy a mansion used by one of Estrada's mistresses.

Defense fails to stop testimony

After Ocampo's testimony, defense attorneys moved to strike it on the grounds that it was irrelevant. The trial's presiding officer, Supreme Court Chief Justice Hilario Davide, rejected the motion, however, provided that the prosecutors later prove that the funds were ill-gotten.

Earlier, Estrada's attorneys had tried to suppress Ocampo's testimony, saying they had been surprised by her appearance at court.

"There can be no fairness if one side is caught by surprise," said chief defense lawyer Estelito Mendoza. "These proceedings can only mean anything to the nation and the country if they are fair."

Prosecuting Congressman Joker Arroyo said that Ocampo's testimony had spurred others to come forward to corroborate her recollection of events, and that Equitable-PCI Bank had cooperated with the investigation.

Earlier this week, bank chairman George Go, a close friend of Estrada, resigned, saying he wanted to keep the bank away from the taint of scandal.

Questionable finances

Last year, Estrada said his net worth was 35 million Philippine pesos (about $700,000), far less than the 500 million pesos Ocampo testified he deposited in the Equitable-PCI account.

"Unexplained wealth" is an impeachable offense under the Philippine constitution.

If he is found guilty by two-thirds of the 22-member Senate on any of the four counts against him, Estrada will be forced from office.

Charges by provincial Gov. Luis Singson, a reputed gambling boss, led to the impeachment trial. Singson said he gave Estrada nearly $11 million in payoffs and kickbacks, including $8.2 million from illegal gambling and $2.8 in tobacco kickbacks.

CNN Correspondent Maria Ressa, The Associated Press and Reuters contributed to this report.

Copyright 2000 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Estrada prosecutors try to show paper trail in impeachment
December 21, 2000
Crucial Estrada case bank records opened in court
December 20, 2000
Philippine impeachment prosecutors to call handwriting expert
December 17, 2000
Philippine president changes statement about $100,000 check
December 16, 2000
Philippine president admits consultant accepted check
December 15, 2000
Estrada denies receiving check from Philippine gambling bosses
December 14, 2000
Estrada, hurt by charges, may testify at trial
December 13, 2000

Equitable PCI Bank
President Joseph "Erap" Ejercito Estrada
BAYAN Movement
Philippine House of Representatives

Note: Pages will open in a new browser window

External sites are not endorsed by CNN Interactive.