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Loot beats Greg as richest official

First Posted 08:47:00 11/14/2008

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Daanbantayan Vice Mayor Maria Luisa Loot has surpassed Cebu Vice Gov. Gregorio Sanchez Jr. as the richest local government official in the Province of Cebu.

With P106,701,628 to her name, Loot surpassed Sanchez?s net worth of P99,210,647.01 by over P7,490,980.99, according to the Statements of Assets, Liabilities and Net Worth (SALN) for 2007 released by the Office of the Ombudsman in the Visayas.

In 2006, Sanchez was the wealthiest official in Cebu with a net worth of at least P93 million.

In her latest SALN, Loot declared total assets of P123,061,628 from real property (P107,333,900), investments (P6,485,728), cash on hand in bank (P1,000,000); deposits (P242,000), furniture and antiques (P2,000,000) and jewelries (P6,000,000).

Her liabilities amounted to P16,360,000.

Also, Loot stated in her SALN four companies with which her family is connected: Eigado Real Estate, Gallera De Mandaue Cockpit, and Sabungan Canteen, all located in Mandaue City, and Eigado Lending, located in Mandaue City and Daanbantayan.

Loot declared that her SALN also reflected that of her spouse, Senior Supt. Vicente Loot, head of the Regional Human Resources Department of the Police Regional Office in Central Visayas.


The SALN of seven out of nine city mayors in Cebu were included in the latest batch released by the Ombudsman.

Of the seven, Toledo City?s Arlene Zambo is the richest, with a total net worth of P14,695,821.74.

Zambo?s total assets totaled P15,180,821, composed of real property worth P11,755,821.74, investments of P2,400,000 and other personal property of P1,025,000.

Zambo?s liabilities amounted to P485,000.

Trailing Zambo is Carcar City Mayor Mario Barcenas, with a net worth of P12,090,000, while Danao City Mayor Ramon Durano is third with P9,661,550.

Mandaue City Mayor Jonas Cortes came in next with a net worth of P8,338,414.74.

Cebu City Mayor Tomas Osmena?s SALN was included in the first batch released by the Ombudsman earlier this week. His net worth totaled P5.1 million, making him the fifth richest among mayors with known SALNs.

Osmeña is followed by Naga City Mayor Valdemar Chiong with a P2,200,000 net worth.

Coming in seventh is Talisay City Mayor Socrates Fernandez with P990,450.

The SALNs of Bogo City Mayor Celestino Martinez Jr. and Lapu-Lapu City Mayor Arturo Radaza have yet to be released.



Among the vice mayors of Cebu, Ramon Durano Jr. of Danao City is the richest, according to the latest SALNs released by the Ombudsman. He has a net worth of P30,900,000.

Behind Durano is Toledo City Vice Mayor Aurelio Espinosa with a net worth of P12,404,529.

Talisay City?s Lani Abarquez came in third with a net worth of P7,081,000, while Naga City Vice Mayor Delfin Senor has P3,430,000.

The vice mayor with the least net worth according to the latest SALNs is Mandaue City?s Carlo Fortuna, with P600,000 to his name.



Loot, as vice mayor of Daanbantayan, is also the richest vice mayor in the province.

She is followed by Argao Vice Mayor Azucena Sesaldo, whose net worth totaled P30,332,200.

Next to Sesaldo is Malabuyoc Vice Mayor Lito Creus with a net worth of P29,188,208.39, then Medellin Vice Mayor Michael Miranda with P15,900,000.

All other vice mayors whose SALN have been released had net worths of at least P10 million.

Meanwhile, Cebu City Sanguniang Kabataan Federation (SK) president Rengelle Pelayo submitted her SALN for 2007 last Wednesday.

She declared a total net worth of P32,000, composed of P25,000 in annual gross income for 2007 and P7,000 in personal belongings. She stated no liabilities.

Pelayo, 18, said she had little to declare because she was still dependent on her parents.

She said most of her P20,000-a-month salary from being an ex-officio member of the City Council is spent for activities of the city's SK Federation.

?I have very little assets. I have no savings because I spend it for our activities in the SK. I also spend it for school,? she said.

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