COA commissioner’s wealth grows by P14.5 million

MANILA, Philippines — Commission on Audit (COA) commissioner Mario Lipana, who is currently under investigation by the Office of the Ombudsman over his alleged involvement in the flood control scam, had a P14.5-million increase in his wealth from his first day in office on Jan. 27, 2022 up to the end of 2024, his statements of assets, liabilities and net worth (SALNs), obtained by The STAR from the ombudsman, showed.

Based on Lipana’s entry SALN filed with the ombudsman on Feb. 3, 2022, he started his term as COA commissioner with a net worth of P12.03 million, comprised of P7.03 million in real properties and P5 million in personal properties as of Jan. 27, 2022.

In a span of 11 months, Lipana’s net worth grew by P7 million or to P19.03 million as of Dec. 31, 2022, owing to the increase in his cash on hand and in bank to P12 million from just P4.5 million declared in his entry SALN.

The value of his real properties remained at P7.03 million as of Dec. 31, 2022, while a Toyota Camry vehicle valued at P500,000 declared in his entry SALN was no longer declared as of year-end.

Lipana’s net worth grew to P23.53 million as of Dec. 31, 2023, owing to the increase in his cash on hand/bank to P15 million. The value of his real properties also increased to P8.53 million from P7.03 million in the previous year. This was mainly due to his acquisition of a house and lot in Bulacan worth P1.5 million.

By Dec. 31, 2024, his net worth stood at P26.53 million, due to the increase in his cash on hand/bank to P18 million. The value of Lipana’s real properties remained at P8.53 million.

In all his filed SALNs, Lipana declared zero liabilities.

Lipana, who hailed from San Ildefonso, Bulacan was appointed as commissioner by former president Rodrigo Duterte with a term of until Feb. 2, 2027.

He previously served as director of the COA Regional Office IV-A (Southern Tagalog) and concurrent director of the COA Intelligence and Confidential Fund Audit Office.

Lipana is among the public officials currently under preliminary investigation by the ombudsman in connection with the flood control project anomalies.

In an interim report filed by the Independent Commission on Infrastructure (ICI) before the ombudsman last month, it recommended charges of plunder, graft as well as direct and indirect bribery against Lipana, senators Jinggoy Estrada and Joel Villanueva, and resigned congressman Zaldy Co, among others, over their alleged involvement in the systematic “kickback scheme” in the flood control projects.

It was earlier revealed during the House appropriations committee hearing on the COA’s proposed budget last Sept. 11 that Lipana’s wife, Marilou Laurio Lipana, president and general manager of Olympus Mining and Builders Group Philippines, has nine ongoing projects with the Department of Public Works and Highways (DPWH) in Bulacan with total contract cost of P326.609 million involving flood control projects and farm-to-market roads.

It was further revealed that Olympus Mining and Builders Group Philippines previously completed flood control projects amounting to P178.52 million also with DPWH Bulacan.

During the Senate Blue Ribbon Committee hearing in September, dismissed DPWH Bulacan First District Engineering Office (DEO) district engineer Henry Alcantara revealed that sometime in 2022, COA commissioner Lipana requested from his office a list of flood control projects in Bulacan.

Alcantara said that based on the list of projects he provided to Lipana, the latter was able to secure a total of P1.4 billion in budget insertions for the projects – P500 million in 2023, P400 million in 2024 and P500 million in 2025.

The STAR had earlier requested a statement from the COA regarding the allegations against Lipana, and inquired on whether it is conducting or will conduct any internal investigation on him, but its Public Information Office (PIO) merely acknowledged the query without answering the issue.

“This is to acknowledge receipt of your email. We have forwarded your query to the Office of the Chairperson,” the COA PIO said.

COA chair Cordoba

Meanwhile, COA chairperson Gamaliel Cordoba’s wealth had increased by P5.437 million from 2022 up to the end of 2024.

Cordoba, who officially started his term as chairperson on Nov. 29, 2022, declared a net worth of P93.705 million as of Dec. 31, 2022, composed of P34.746 million in real properties and P63.959 million in personal properties as against P5 million in liabilities in the form of personal loan.

By Dec. 31, 2023, Cordoba’s net worth slightly decreased to P91.465 million, as the value of his “cash, jewelry, furniture and other personal effects” was down to P58.618 million from P60.859 million in the previous year.

Cordoba’s net worth went up the following year to P96.879 million as of Dec. 31, 2024, owing to the increased value of his “cash, jewelry, furniture and other personal effects” to P64.033 million.

The value of his real properties and liabilities remained at P34.746 million and P5 million, respectively.