VICE President Jejomar Binay should waive his right to the Bank Secrecy Law, to dispute his links to Philrem Service Corp. – a remittance company allegedly involved in the stealing of $81 million from the Bank of Bangladesh reserves from the Federal Reserve of New York.
Liberal Party (LP) Spokesman Edgar Erice, also a Caloocan City representative, was referring to the Anti-Money Laundering Council (AMLC) report showing that in 2014, a law firm owned by Binay sent P100 million to a Citibank, in Hong Kong, through Philrem.
Philrem is now facing investigation from various government authorities for transferring $81 million in dirty money to the RCBC Jupiter Branch, in Makati, from the Bangladesh reserves.
Binay, the standard-bearer of the opposition United Nationalist Alliance (UNA), has said that the report on his links to Philrem was merely a demolition job by his political enemies, with less than two months before the May 9 elections.
“If this is a demolition job, then the Vice President should prove it so,” Erice said in a statement. “We dare him to waive the Bank Secrecy Law and show his bank records involving Philrem – the same company that transferred millions of dollars of stolen money from Bangladesh.”
The P100 million, according to the AMLC report, was for the Three Star Phil. Company based in British Virgin Islands. The report also said that the Three Star is one of the investors in a Binay dummy company.
“It doesn’t look good on him, being the second-highest elected official of our country, to have a connection with a company involved in money laundering,” Erice stressed. “He should answer these allegations squarely, instead of evading it, again.”
During Monday’s Senate hearing, it was revealed that Philrem converted the stolen $81 million to Philippine peso when it was deposited to RCBC Jupiter Branch. LLANESCA PANTI