While most senators are getting richer, this neophyte congressman became poorer by P31.2 million within six months.
Based on the summary of assets and liabilities of members of the House of Representatives as of July 1, 2004, Batangas Rep. Hermilando Mandanas was No. 58 among the wealthiest congressmen.
He had assets worth P31.6 million and liabilities of P192,012, or a net worth of P31.4 million.
Six months later, as of the end of December, he was the fourth poorest member of the House. His assets had dwindled to only P137,497. He had no liabilities.
Sought to explain the sudden disappearance of his assets, Mandanas, who was governor of Batangas for nine years and the principal proponent in the House for the abolition of the Philippine Amusement and Gaming Corp., said he was himself surprised at the supposed dissipation of his wealth.
Examining the summary prepared by the office of Roberto Nazareno, House secretary general, which was shown to him by The STAR, Mandanas said Nazareno’s people erred in preparing their report.
"They put my liabilities in the net worth column and my net worth in the liabilities column. That explains the huge discrepancy. My liabilities as of July should have been P31.4 million and my net worth P192,012," he said.
He added that he had decided to pay off his creditors with his assets when he was elected congressman so he could start his lawmaking job with a clean slate.
"Mabuti na ’yun para wala akong pinagkakautangan (That’s better so that I don’t owe anyone anything)," he stressed.