FACT-CHECK: Marcoleta’s wife not an ‘executive director’ of insurance firms linked to Discayas

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CLAIM: Edna Marcoleta is an “executive director” of insurance companies linked to the Discayas, the wealthy couple at the center of the flood-control corruption controversy.

 

RATING: FALSE

 

Following a report on Sen. Rodante Marcoleta’s wife Edna, which detailed her connections to insurance firms linked with the Discayas, several social media pages misquoted the news story and claimed she held the position of “executive director.”

Flagged content: A number of posts on Facebook have gained considerable traction after erroneously claiming that Edna Marcoleta held “executive” director positions in Stronghold Insurance Inc. and Milestone Guaranty and Assurance Corp.

  • The posts misquoted the report by Bilyonaryo News Channel published Sept. 28, alleging that Senator Marcoleta could have been protecting the wealthy contractors due to his wife Edna’s connections with the insurers of the Discaya’s construction companies.

Our debunk: Bilyonaryo News Channel stated in its report that Mrs. Marcoleta was listed by Stronghold on its website as an “independent director,” while Milestone named her as a “non-executive director.” Neither positions participate in managing and operating companies as defined by the Securities and Exchange Commission in its Revised Code of Corporate Governance.

  • An “executive director” refers to a person who is part of the board of directors, the highest decision-making body in a corporation, and simultaneously a member of the executive team or management. This was not the case with Mrs. Marcoleta.
  • SEC defines an independent director as “a person who, apart from his or her fees and shareholdings, is independent of management and free from any business or other relationship which could, or could reasonably be perceived to, materially interfere with his or her exercise of independent judgment in carrying out his or her responsibilities as a director.”
  • Milestone listed her on its General Information Sheet (filed 2023) as a “non-executive” director. This means Mrs. Marcoleta sat on the board of directors, and thus held shares of stock, but was not part of management.
  • In its GIS filing (2022), Stronghold listed her as a “non-officer,” but she also served as chairman of the company’s audit committee.
  • According to the SEC, independent directors must hold no more than 2% of shares and should not exercise executive roles.

Rewind: On Sept. 8, then-Senate Blue Ribbon Committee chair Rodante Marcoleta urged Justice Secretary Jesus Crispin Remulla in a letter to place contractors Curlee and Sarah Discaya under the Witness Protection Program.

  • Senate President Vicente “Tito” Sotto declined to sign Senator Marcoleta’s Sept. 8 letter, explaining that he would first speak with Sen. Panfilo “Ping” Lacson, the committee’s new chair, before making a decision.
  • The Discaya couple submitted their affidavits to the DOJ on Sept. 19 for initial evaluation to assess their eligibility for the Witness Protection Program.
  • On Sept. 24, the Discayas were granted protection as witnesses by the DOJ, but they were not designated as state witnesses.

Spot the fake: With the controversial flood control projects at the backdrop, false information and assumptions are easy to amplify, especially within echo chambers.

  • Always take claims on social media with a grain of salt.
  • Check sources and always verify. 

Look for inconsistencies and presentation of certain arguments and quotations. Hurt Allauigan, Leigh San Diego (with reports from Felipe Salvosa II and Nikko Balbedina III)


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