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Incorporators in real estate firm

MANILA, Philippines—In the amended impeachment complaint filed in 2005, President Arroyo was accused of betraying public trust by “deliberately concealing ownership of various properties and business interests.”

Among the businesses cited was Eva Development Corp., a company that is involved mainly in real estate, where the President and her husband Jose Miguel Arroyo have been listed as incorporators and stockholders since May 1993.

In its latest filing with the Securities and Exchange Commission, the company reported total assets worth P28 million and a net income of P24 million as of 2008. Inquirer Research

Sources: Inquirer Archives, Securities and Exchange Commission

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