Prosecution bombshell at Estrada8217;s trial

MANILA, DEC 7: The Philippine prosecution dropped a bombshell at President Joseph Estrada's impeachment trial on Thursday, producing a che...

MANILA, DEC 7: The Philippine prosecution dropped a bombshell at President Joseph Estrada8217;s impeachment trial on Thursday, producing a cheque for some 3 million as alleged proof that he had amassed wealth in office.

Shortly after the trial began, prosecutor Joker Arroyo showed the Senate impeachment court a copy of a cheque for 146 million pesos which he said was signed by Estrada, albeit in a false name.

As tens of thousands of protesters demanding Estrada8217;s resignation marched on the Senate building at the start of the historic trial, another of the prosecutors accused Estrada of running a criminal syndicate from his presidential palace.

quot;The prosecutors will expose the existence of a criminal syndicate directed from the highest office of the land,quot; prosecutor Sergio Apostol told a hushed court.

quot;This is the gangland mob that threatens to rule us8230;this is the mob that will savage our constitution and the very fabric of our society unless we destroy it now before it destroys us,quot; Apostol warned.

The defence likened Estrada to Julius Caesar and decried the quot;lies and innuendoquot; which had led many to rush to judgment.

quot;Unlike in Julius Caesar8217;s case, we are assured that in this forum, judgment will not flee to brutish beasts and reason will not be lost but will attend every aspect and incident of these proceedings,quot; said Chief Defence Attorney Andres Narvasa.

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quot;It is in light of these familiar norms and precepts which we are certain this honourable tribunal will uphold and apply, the respondent, the President of the Philippines, now confidently faces his accusers.quot;

Estrada is threatened with removal from office on charges of bribery, corruption, betrayal of public trust and culpable violation of the constitution.

He has denied all the charges and has said he will be vindicated at trial.

Prosecutor Arroyo suggested the cheque was used to purchase a mansion for one of Estrada8217;s mistresses.

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quot;We want you to study that cheque very closely,quot; he said. quot;Examine the signature. Then look at the signature of the President on a 500 peso note. You need not be an expert8230;there are unmistakable signs that the signature on the cheque is in the handwriting of the President of the Philippines.quot;

The cheque, Arroyo said, was made out to Jose Luis Yulo, a friend of Estrada, who in turn used part of the funds to finance purchases made by a company called St Peter8217;s Holdings, of which he was the owner.

The company bought a 86-million peso mansion in Manila which newspapers have said is occupied by former starlet Laarni Enriquez, who Estrada has acknowledged is the mother of three of his children.

The reports have called the mansion quot;Boracayquot; because it has a large swimming pool with artificial waves and surrounding white sands in an attempt to re-create the beaches of the famed central Philippine island.

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quot;It follows that President Estrada provided the funds, as the real and beneficial owner of St Peter8217;s Holdings, to buy Boracay,quot; Arroyo said.

quot;Imagine the president of the Philippines maintaining a fictitious account? How far can he go? That is how low the President has gone down in bastardising and prostituting even our banking system,quot; Arroyo said.

quot;We will show that President Estrada cannot explain how he was able to purchase that property when his net worth according to his 1999 Statement of Assets and Liabilities was only 35 million pesos.quot;

Arroyo added: quot;We cannot have the country run by a thief like him.quot;

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The Philippines began Asia8217;s first impeachment trial of ahead of state as an estimated 30,000 protesters, led by former president Corazon Aquino and Vice-President Gloria Macapagal Arroyo, demanded that Estrada resign to save the nation from further turmoil.

Arroyo is next in line of succession if Estrada is removed from office.

About 1,000 pro-Estrada loyalists rallied in support oftheir embattled leader in another part of the Senate complex.

Estrada did not make any public comment but aides said hewatched live television coverage of the proceedings while sipping coffee at the presidential palace.

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quot;He is eager for the process to start and to finish very,very soon so he can then get back to the main business of running the place,quot; presidential spokesman Ricardo Puno said.

Local Financial markets were quiet although dealers saidthey were wary. The peso, which fell to a historic low of 51.95 to the dollar after charges of corruption were first aired against Estrada in October, was stable at about 50.20.

Lawyers for the two sides have said the 22-member Senate isunlikely to reach a verdict before the end of January. Estrada will have to quit if he is convicted by a two-thirds majority on any one of the four charges against him.