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THE Court of Appeals wants more evidence from the Anti-Money
Laundering Council (ALMC) that would prove that the frozen bank
accounts of former Agriculture Undersecretary Jocelyn “Joc-Joc”
Bolante have links to his alleged money laundering activities.
Court of Appeals Presiding Justice Conrado
Vasquez said Tuesday they need additional documentary evidence to
determine whether the 20-day freeze order earlier issued by the
appellate court’s Former First Division on Bolante’s 70 bank
account and insurance policies will be “lifted, extended or
modified.”
“You [AMLC] should submit proof that the
accounts have a direct link to [former] Undersecretary Bolante so
that we can determine if we will extend the freeze order,” Vasquez
said.
The AMLC secretary, lawyer Julia Bacay-Abad, had
earlier told the court that they needed six months to complete their
investigations on Bolante’s money laundering activities.
The freeze order will lapse on July 21.
Abad explained that advances in banking
technology had made their task much more difficult as deposits can
be moved from one financial institution to the other with the touch
of a button.
Abad also showed the justices a complex graph
showing how Bolante’s laundered money, allegedly sourced from the
controversial P728 million fertilizer fund, were diverted.
The appellate court asked for a printed copy of
the graph and the sworn-affidavit of the person who made the graph
as part of the evidence the AMLC should submit within seven days.
The court also ordered Bolante, through his
lawyer Antonio Zulueta, 10 days to contest the freeze order.
On July 1, the appellate court in a 20-page
decision authorized the AMLC to freeze Bolante’s 70 accounts in 23
banks and insurance companies.
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