• PIMENTEL TO AMLC:

    Explain why Go spared

    7

    THE Senate blue ribbon committee wants the Anti-Money Laundering Council (AMLC) to explain why it excluded “other players” in the laundering of $81 million stolen funds from Bangladesh from the complaint it filed at the Department of Justice last week.

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    Senator Aquilino Pimentel 3rd, a member of the blue ribbon panel, said if the AMLC found Kam Sin Wong alias Kim Wong and Weikang Xu liable for violating Section 4 (a) and (b) of the Anti-Money Laundering Act (AMLA) of 2001, it should also include the other individuals who made it possible for the two to get the money.

    The senator was referring to businessman William So Go and officials and personnel of Philrem Service Corporation and Rizal Commercial Banking Corp. (RCBC).

    “How come they have not been included in the cases? There must be a reason,” Pimentel said in an interview.

    The AMLC, in a nine-page complaint, accused Wong and Xu of violating the AMLA based on testimonies of witnesses who attended the Senate investigation of the money scam.

    Some witnesses claimed that Wong got $21.6 million while Xu got $59.2 million from the laundered amount.

    In its complaint, the AMLC said Wong received $21.6 million through his firm Eastern Hawaii Leisure Company Limited and transferred most of the amount to his personal account at the Philippine National Bank (PNB).

    Wong’s name appeared as the incorporator of Eastern Hawaii, a company that operates a hotel-casino at the Cagayan Special Economic Zone.

    Xu, on the other hand, received $18 million and P600 million delivered to him by Salud Bautista, president of Philrem from February 5 to 13 this year.

    Another transfer was made to Solaire casino, amounting to $28.7 and was later transferred to Xu, based on testimonies of Solaire Casino Corporate Secretary Silverio Tan.

    Pimentel said if Wong and Xu were indicted, the other persons who facilitated the money transfer should also be charged.

    “I am not insisting that they [Go, Philrem and RCBC] be included but I want to hear the reason why they have not been included,” the senator pointed out.

    Pimentel, who also heads the Senate Committee on Justice, said he will grill AMLC officials on the non-inclusion of other players in the complaint when the Senate resumes its investigation on Tuesday.

    Go is the supposed owner of the account at RCBC Jupiter Branch (Makati City) where most of the $81 million was deposited after it was withdrawn from four fictitious accounts also in the same branch.

    Go, however, denied owning an account in the RCBC Jupiter Branch although he admitted having an account at the bank’s Trinoma branch.

    Senators expect Wong to show up in the next hearing.

    Senator Sergio Osmeña 3rd, chairman of the Senate Committee on Banks, said Wong will have to explain his role in the scandal.

    Osmeña also wants RCBC officials to show that they exercised due diligence over suspicious transactions such as the transfer of the $81 million stolen by hackers from the account of Bangladesh Bank with The Federal Reserve Bank of New York.

    The money was then wired to the RCBC Jupiter Branch, landing in four bank accounts, which bank manager Maia Santos-Deguito helped open last year.

    Last week, RCBC fired Deguito and her assistant, Angela Torres, over the scandal.

    The bank said the two were fired for violating bank policies and procedures and falsification of commercial documents and for facilitating the alleged money-laundering of the $81 million.

    It added that charges will be filed against Deguito and Torres this week.

    Deguito, however, had denied any wrongdoing.

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    7 Comments

    1. This will not be possible without the help of powerful corrupt political allies and brokers inside the Malacanang mafia govt. same with technical smuggling in BoC , illegal mining and illegal logging in DENR , tax evasion in BIR and secret narco-businesses among PNP top officials and corrupt elected politicians.

      • Absolutely correct. These politicians have been bribed, blackmailed and forced to defend the accused. This is the reason why so many Filipinos are against people who have been seen as corrupt or coddling corrupt individuals. It so obvious in this country who are corrupt. Look at their lifestyle, properties they owned and who they are with (birds of the same feather). I hope there are more people like PNOY who will run after corrupt officials. I hope the person elected for President in our country can continue or even perform better.

      • Pnoy is after the corrupt officials? I don’t think so. What about the DAP he introduced/implemented and found later by our SC as illegal? Another, his cabinet secretaries (like Abaya, Alcala, Abad, Soliman, Purisima, and other government officials mostly associated with the Liberal Party) who were already accused at Ombudsman’s office for various offenses prejudicial to good governance?

    2. This is a thorough read but it will help make sense of everything behind the mysterious bank heist. Kudos to chempo for this great presentation.

      It is important to get a background knowledge of the complexities of this scam before we can fully understand how I.N.C. is somehow allegedly involved in this as the presence of INC key players in the scam are starting to surface… unless ofcourse the case get’s railroaded and eventually whitewashed since the members of the Senate Committee, as we all know, also beholden to the powerful and highly influential INC Administration. That is why it is crucial that we educate ourselves regarding this issue and be able to seek the answers because as the investigation goes, so does the saying goes… THE PLOT THICKENS.

      One way or the other, the truth will come out no matter how Maia Santos DeGuito tries to escape from it, no matter Ferdinand Topacio tries to cover up for it, the truth will surface. INC members from the locale of Bel Air knows exactly who DeGuito is and every effort is being done to silence everybody and erase all links to INC. Same modus unfortunately, threats, coercion, intimidation and cover ups.

      One can expect a denial from the INC Administration via the Ministers and all their media/social media mechanism, but it will remain to be obvious that the INC Administration will continue to protect her for “obvious” reasons, they wouldn’t want her to spill the beans on who really are involved.

      So for now, let’s equipped ourselves with the knowledge on how to properly understand what all the hullabaloo is all about. Read on.

      https://incsilentnomore(dot)wordpress(dot)com/2016/03/27/a-breed-of-extremely-intelligent-criminals/

      • Excuse me, that link that your giving us is full of chismis. Deguito is not a member of the INC, Topacio is. Before you recomend and say things, make sure it is base on a fact ha?! Baka libel lng mngyari sa’yo. Kalalaking tao hilig sa chismis.

    3. The stinking denial of RCBC’s big fish, William So Go and Salud Bautista about their collusion in connection with the laundering of $81million from Bangladesh Bank is so shallow that it’s so nauseating.

    4. Eduardo Dizon on

      Well it is interesting that the bank and courier who are the main conduit for this money laundering were not charged and only the recipients. If this is the crude mentality of the ALMC people then I can be a conduit for drugs and smuggling as long as deliver them to every person and I won’t be charged at all. These people appointed by ABNOY are actually not doing their job rather are always favoring someone or are trying to hide something.