Chiz's net worth dips after annulment

His wife wasn't the only thing re-electionist Senator Francis “Chiz” Escudero lost in 2012. A comparison of his statement of assets, liabilities, and net worth (SALN) in 2011 and 2012 showed that his net worth dipped by almost P6 million after having his marriage annulled with Christine Elizabeth Flores. Escudero's declared networth in 2011 was P9,867,082, while his networth in 2012 was down to P4,017,082. In his 2011 SALN, he was still in possession of two condominium units in New Manila, Quezon City, a 1995 Range Rover Classic, a 1969 BMW 2002, and a 1996 Toyota Land Cruiser. But in his 2012 SALN, the condo units were no longer declared under his real properties, Also, his finances went down by P300,000 and his jewelry and other properties by P450,000. Escudero's office told GMA News Online that the senator and his ex-wife decided to transfer their conjugal condo units to each of their children, five-Maria Cecila and Joaquin Cruz, both five years old. The units, bought for P6.6 million in total, are now declared under the real properties of Escudero's dependents, who were also given P520,000 each in cash. Bank waiver Together with his SALN, Escudero also signed and submitted a waiver of secrecy of bank deposits. “I think signing the secrecy waiver is an obligation that each of us should do in the coming days prior to the elections,” he said in an earlier statement.   Because to this, Escudero urged the other candidates to do the same. “Those who have nothing to hide [have] nothing to fear from my transparency challenge,” he said. Government officials and personnel are required to submit sworn SALN documents within 30 days after assuming office but not later than April 30 yearly.   The first senator who submitted his SALN was re-electionist Antonio Trillanes IV, who declared a net worth of P4,432,000. — Kimberly Jane Tan/KBK, GMA News