Update: Blancaflor waves right to bank secrecy;allows his bank account to be examined.
Secretary Blancaflor’s statement on the alleged P2.6 million deposit:
Feb 26 2008 Applied loan as co-borrowers, Ricardo Alejandro Blancaflor and Mercedes Kathryn Yap (then fiancée). Paid Php 2.1M as downpayment which is 30% of Php 7M.
April 30 2008 Two loan documents were made when the loan was approved. One loan was covered by PN No 174514000507803 in the amount of Php 3,220,232.00. Monthly amortization is P36,195.31 starting June 1, 2008.