During the weekly press conference, Wednesday, where Koshiba was an invited guest supposedly to clear issues involving the ongoing investigation on the collapse of the defunct Pacific Saving Banks (PSB), he asked the president whether he was willing to show the media documents regarding lands he currently owns.Remengesau answered Koshiba’s question with a “no” but said his assets and liabilities are open for scrutiny once he submit it before the Code of Ethics Commission.Koshiba told reporters that Remengesau has purchased 47 lands during his term.“Where did he get the money to purchase this? Is his salary enough to pay for 47 properties,” Koshiba later told reporters.“It that Taiwan money or PSB money?,” he askedKoshiba said on top of these properties, the president also build a $200,000 house in Chol, Ngaraard.The president, Koshiba said has also bought a property in Las Vegas, Nevada this year.Koshiba also asked the president to explain where he got the money to purchase two vehicles- Lexus and an SUV and a Harley Davidson motorcycle.The president told Koshiba that the Lexus was a trade-in and that he has secured a loan from the bank to make payments on the remaining balance, while the SUV he said is a government property because the vehicle was donated by the Taiwan government.He said that he also purchased the motorcycle through a bank loan.Remengesau for his part questioned Koshiba’s alleged shares of stocks with the United Micronesia Development Association (UMDA).He said that Koshiba has shares that is now valued at $600,000.Koshiba admitted to buying 1,000 shares of stocks with UMDA. The president then questioned Koshiba’s claim that he will defend the Constitution when he tried to install earlier to install him and became Senate President despite the lack of quorum.However the court found the move unconstitutional, Senator Surangel Whipps Sr. then became the new senate president.“You like to sing that you know the Constitution but you were involved in power grabbing,” Remengesau told Koshiba during the press conference.
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