MANILA, Philippines – Ombudsman Conchita Carpio Morales' net worth for 2017 stands at P58.615 million, or P17 million more than when she first became Ombudsman in 2011.
Morales’ entry Statement of Assets, Liabilities and Net Worth (SALN) when she was appointed Ombudsman in July 2011 showed she had a net worth of P40.749 million.
In the last 3 years, Morales’ net worth increased by millions. For example, her net worth in 2015 was P52.106 million, rising to P54.130 million in 2016.
The cause of Morales’ net worth growth? Her cash-on-hand, augmented by her pension and retirement benefits.
In 2015, her cash investments, inclusive of benefits and provident fund, were worth P29.44 million. This became P31.68 million in 2016.
For 2017, Morales declared P35.153 million worth of cash investments, inclusive of retirement benefits, pension, cash on hand, Supreme Court Savings and Loan Association, cooperative and provident funds.
A provident fund is a saving scheme in government offices. For 2017, Morales declared P124,787 worth of provident funds from both the Supreme Court and the Office of the Ombudsman.
The Office of the Ombudsman is Morales’ 5th government agency in her entire public career that started in 1971.
She worked at the Department of Justice (DOJ) for 12 years, after which she served as a trial court judge in Pili City in Camarines Sur and in Pasay City.
In 1994, she was appointed by former president Fidel Ramos as associate justice of the Court of Appeals. In 2002, she was appointed by former president Gloria Macapagal Arroyo as associate justice of the Supreme Court.
Morales was SC justice for 9 years until her mandatory retirement in 2011, after which she was appointed Ombudsman by former president Benigno “Noynoy” Aquino III.
As of 2017, Morales has 11 real property assets worth P19.63 million.
Morales’ car since 2003 worth P390,000 is still her personal car in 2017, in addition to a van she bought in 2011 worth P132,850.
Morales’ only liability in 2017 is P88,000 worth of loans for “personal items” from Rustan’s.
Morales’ relatives in government are her son Eugenio III who is a land examiner at the Registry of Deeds in Muntinlupa City; brother Emmanuel Carpio who is a trial court judge in Davao City; and nephew Waldo Carpio who is an assistant secretary at the Department of Agriculture.
Morales will retire on July 26 as Ombudsman. She is the first Ombudsman in 16 years to complete a full term. (READ: The search for the next Ombudsman)
Among the applicants to succeed her are: Labor Secretary Silvestre Bello II, Special Prosecutor Edilberto Sandoval, Supreme Court Associate Justice Samuel Martires, Sandiganbayan Associate Justice Efren dela Cruz, and lawyer Edna Batacan, who is a former lawyer of President Rodrigo Duterte. – Rappler.com