Senator Teofisto 'TJ' Guingona, at the Philippine Senate hearing of the committee on accountability of public officers and investigation, and committee on banks.
If casinos were under AMLA law, money laundering could have not happened- Guingona.
The US81-million money laundering controversy could not have happened if the casino were covered by the Anti-Money Launder Law (AMLA), Senate blue ribbon chairman Sen. Teofisto ‘TG’ Guingona III said on Tuesday.
”(And) what is clear, this would probably not had happened if the casinos were under the AMLA law,” Guingona told the media after a four-hour Senate hearing on the money laundering involving the Rizal Commercial Banking Corp. (RCBC).
”The funds can easily be traced until the casinos. Once it is in the casino, it seems it was a dark cave, it just one big cave, a black hole which we cannot trace anymore,” he added.
Based on the Senate inquiry, Guingona said the money entered the RCBC from New York and from RCBC, it entered to four fake accounts then went to one account allegedly owned by William So Go.
”It was proven that the account was not belonged to Go. It has been found it is fake. Nevertheless, the USD 81 million found its way to that account then part of it was converted into peso via PhilRem,” Guingona said.
Guingona said the Philrem Service Corp. admitted it already distributed the funds to three entities that were dealing with the casinos.
Asked who will be held liable in what he described as big conspiracy involving not only one person, Guingona said “that thing is not clear because as you saw, both of them are invoking either bank secrecy laws or invoking the right against self-incrimination.”
Maia Santos Deguito, manager of Rizal Commercial Banking Corporation Jupiter branch in Makati City, attended the hearing but invoked his right against self-incrimination.
”She, however, reiterated her intention to testify fully in an executive and confidential session in the best of her ability, while protecting her aforementioned rights at the same time,” Deguito’s lawyer Ferdinand Topacio said in a letter to Guingona.
Guingona said they found a lead from the bank manager.
”But it was clear to us that it is well-planned, more than a year ago and it could not have been done by one person. It need the cooperation of the banks, the remittance company,” Guingona said.
Guingona set another hearing on Thursday. (with PNA reporting by Jelly Musico)
Watch again the Senate of the Philippine’s Blue Ribbon committee hearing on the money laundering controversy below:
Tell us your thoughts on this article. If logged in with any of your Wordpress.com, Twitter, Facebook, Google+, or registered on this site before, then you can simply write your comment below. Thanks and appreciate your feedback. Cancel reply
Her story resembles that of a script lifted direct from a tele-novela. This video is another installment in our continuing coverage of ordinary people sharing their experience during their married life. The resource speaker on this video supports the passage of the divorce bill in the Philippine congress. The speaker […]
Did regret came too late? A girl who transitioned to becoming a boy during teenage year speaks of great regret for having done so. Charlie Evans “became” male for close to ten years before making a turn-around from a decision made. Evans detransitioned in 2018. But will it recoup the […]
This is only a passing question for residents living around the City of Naga and also of towns nearby, and maybe of Camarines Sur province, too. Have you visited the Jesse Robredo museum yet? If not, then come on, let’s join Vice-President Leni Robredo show us around. The VPOP is […]
Canadians react with disdain on government officials, which include PM Justin Trudeau and Environment Minister Catherine McKenna, due to garbage dumping in the Philippines. Watch how independent conservative YouTube channel shares reaction and more below: [At 1:40, notice the government official sitting right of President Duterte make face, reacting to […]
Sharing here the attendance of Vice President Leni Robredo during the 121st Independence Day rites this morning at Rizal Park in Manila. And below is the commemorative message of the vice president for the occasion: Sa araw na ito, bilang nagkakaisang lahi, ipinagdiriwang natin ang ika-isangdaan at dalawampu’t isang taon […]
A short clip derived from a PBS (US tv channel) documentary highlights a woman acquiring a “sense of peace” after aborting her two (twin) babies. The woman was shown getting clear instruction from the doctor on the dosage and timing of taking “medical” abortion pills. The doctor was so blatant […]
The most important and relevant documentary movie drops today. Will it be truth bites the plight of mass migration hurting Europe? We are referring to the much awaited “Borderless” movie by independent Canadian activist-journalist Lauren Southern and her team. After months enduring the rigors (and danger) of (clandestine) location filming, […]
Some world leaders, and even the mainstream media, didn’t get it. But at least, Pope Francis on Easter Sunday speaking after the special Easter ‘Urbi et Orbi’ message and blessing, expressed his “heartfelt closeness to the Christian community [of Sri Lanka] wounded as it was gathered in prayer, and to […]
Daring independent journalist Lauren Southern is on the hot trail of the illegal immigration happening now in most of Europe. On this her latest reportage the daring Canadian exposes the alleged human smugglers and traffickers operating in Greece as NGO’s like the Emergency Response Center International. ERCI is a self-described […]
This should be the first walking tour for inmotion channel, I mean, a walking exploration. So here I was at the churchyard of the main Catholic church in my hometown which is the Parish church of Our Lady of La Porteria. Welcome to inMotion. And many thanks and appreciate for […]
Yes, totally true. The epic fails in Ilocos Norte. One of which was the “cable cart” ride which amused the passengers at first. Then afterwards lost the interest for the operator obviously had difficulty maneuvering the cart up its destination and back. But hey, it was a good try. The […]
Culled from the online news portal itself, Rappler reports agents from the National Bureau of Investigation (NBI) arrested Rappler CEO and executive editor Maria Ressa early Wednesday evening, February 13. The arrest was done in connection with a cyber libel case filed by the justice department. NBI officers in civilian […]
This Philippine province of almost two million people, or 1.9 (1,952,544) million warm bodies according to the official census count of 2015 is the biggest in the Bicol region in terms of population and land area. While it is rich in natural resources and beautiful scenic places, majority of its […]
I am back, yet again, after a long hibernation of sorts. I fixed some personal issues, settled what should have been done before and still in the process of accepting and facing some other health circumstances that is part of life. And then I completely pushed aside into the backburner […]
After posting the article covering the much vaunted Pantao regional port located in Libon town of Albay province we dig a foot deeper and decided to go ahead with an update and rejoinder about the project. Envisioned to boost a “robust economic corridor in southern Luzon, specifically for Daet, Naga […]
Time magazine’s 2018 acknowledged person(s) of the year (POY) received mixed reaction from netizens. Before the end of year, the US-based news magazine picks a POY of their choice who has done the most to influence the events of the year. This 2018, it came out with not one, but […]
As many expected, former Philippine senator Bong Revilla on Friday was acquitted by the Sandiganbayan of the plunder case in relation to the misuse of P224 million pork barrel funds. Pork barrel funds were coated as Priority Development Assistance Fund (PDAF) of previous administrations. His co-accused, bussinesswoman Janet Lim Napoles […]
We get it. Bicolanos and travelers to and from the region will have to get used to flying and landing on four dated airports, one each in Legazpi, Pili (for Naga), Virac and Masbate. The one and only, but much vaunted, Bicol International Airport, or the Southern Luzon International Airport, […]
The domestic airport in Pili serving metropolitan Naga and the provinces of Camarines Sur and Camarines Norte will soon be capable of catering to evening flight take-off and landing operations. The Naga airport, which is operated by the Air transportation Office (ATO) of the Department of Transportation and Communications, has […]
To get a good grasp of the illegal immigrant crisis in the United States (America), and in Europe (European Union), we are sharing below two video coverage, one for each. These are different takes on the massive migrant caravan that began marching from Central America, mostly coming from Honduras, with […]
The town of Daraga in Albay province, has total assets of P1.029 billion making it to the top of the list among the richest municipal local government units (LGU) for 2017, besting 106 others in Bicol region, according to the Commission on Audit (COA). Daraga, aside from topping the list, […]
Ownership of the University of Nueva Caceres change hands. Kind of. For decades, the Hernandez family of Naga city and Libmanan town used to own and manage the first and largest university in Bicol. But not anymore as the education arm of the Ayala Corporation, the AC Education, Inc., (AEI) […]
Naga City, Bicol’s financial, business, educational and religious capital now has a total net worth of over P4.675 billion, making it the richest local government unit (LGU) in the region, according to the Commission on Audit (COA). The City of Ligao, in Albay province, followed far second, with a total […]
Why Fuentebella’s Partido Development Administration got the axe. The administration is cleaning up the mess of the past. Or, so it seems. Recently, Malacañang abolished a Bicol-based Government Owned or Controlled Corporation (GOCC) created during the administration of former president Fidel V. Ramos. The Partido Development Administration (PDA) was snapped […]
While I am not required to explain why I am using English as the medium or language of this channel, I am too happy to explain why. Also, I think it is time to share our reason. Hello friends, Thank you for dropping by and watching this post. At the […]
Today, I temporarily place under my drawer the primary concern of growing more subs. Because today we go Chinese. I mean, I will talk in passing about the Chinese Zodiac as very soon the Chinese New Year will come with a bang on Feb 16, 2018 and end on Feb […]
The Malacanang palace on Saturday made known an official denial it has got no hand in the subpoenas issued by the National Bureau of Investigation to online xocial news network publisher Rappler chief executive officer (CEO) Maria Ressa and two others over cybercrime raps, Presidential Spokesperson Harry Roque said on […]
President Rodrigo Duterte has designated Undersecretary Rosalina Bistoyong as Officer-In-Charge of the Department of Agrarian Reform. She will occupy the vacated post of Rafael Mariano whose nomination was rejected by the powerful joint congressional Commission on Appointments last September 6. Bistoyong is a career executive service professional in the government […]
The residence of Mayor Jed Patrick Mabilog of Iloilo city on Thursday afternoon was the subject of initial inspection from a team of the National Bureau of Investigation.. Witness to the arrival of the inspection team include Ariel Castañeda, the head of the Local Economic Enterprise Office (LEEO) of the […]
My English classes in Grade Six will be the first set of pupils under the K-12 curriculum moving up to Grade 7 come March this school year. At this point, even while it is too early, I try to foresee the probable challenges and impact on their learning curve due […]
President Rodrigo Duterte’s blogger-supporter and now amply rewarded as Assistant Secretary in the office of Presidential Communication Operations Office has courted, again, the ire of netizens, specifically Twitter users. This time, tweets criss cross the internet calling for the ouster or removal of the former sexy dancer from her Malacanang […]
Thanks to the long known advocacy of the Greeenpeace group, the 4th Annual sky lantern flying activity in Legazpi city was eventually canceled by its organizers. The organizers of the 4th Annual sky lantern flying activity have decided today to cancel the event after it was met with strong opposition […]
Bangko Sentral ng Pilipinas wants you to know that it would be very difficult to produce a counterfeit of the new generation Philippine bank notes now in circulation. With the very stringent process, the bank note paper used made up of cotton with Philippine abaca, and all other security features […]
In its disclosure with the Philippine Stock Exchange (PSE) Monday, the Banco de Oro Unibank Inc. (BDO) registered a P13.3-billion net income in the first half of 2017, much higher than the PHP11.7 billion in the same period in 2016. The leading unibank of the country traced the improvement of […]
This should confirm the long suspected plunge of the peso vis-à-vis the US dollar. Now the peso is seen to weaken further beyond the range of 48-50 until the end of year 2017. If it does, which is srongly possible, President Rodrigo Duterte’s economc managers are missing something. Yet, it […]
Watch here another edition of the continuing live stream coverage on the Philippine Senate Blue Ribbon Committee hearing on the alleged $81 million money laundering scam which was coursed through the Rizal Commercial Banking Corporation Jupiter-Makati branch, PhilRem Service Corporation and other financial institutions. Livestream: Senate Blue Ribbon committee hearing […]
The Supreme Court of the Philippines (SCOTP) en banc ruled on Tuesday that Partido Galing at Puso standard bearer Senator Grace Poe-Llamanzares is qualified to run for president in the May 9, 2016 elections. The SC Public Information Office Chief and Spokesman Atty. Theodore O. Te, in a statement, said […]
Many Bicolanos are either living dirt poor, pay check to pay check, do not have money left to put up a bank account, or do not have confidence in the Philippine banking system. Either one of the above could be true. Take a look at the recent finding based on […]
What could be the reason why three Philippine National Police personnel of Bacolod Police Office had to pawn their service firearm issued by the government? This and some boiling questions will have to get prompt and fitting answer from Police Officers 3 Joel Gacho and Eugene Tamayo, and Senior Police […]
LEGAZPI CITY -– Commuters traversing the Yawa bridge here better find an alternative route to avoid inconvenience. Starting Monday, August 6, a traffic rerouting affecting buses, trucks and delivery vans take effect as works on the bridge widening project starts. While the project has an allotment of P140 million approved […]
SC DAP ruling to lead prosecution of erring gov’t officials – CBCP MANILA, Feb 5 — Archbishop Socrates Villegas said people are hoping the recent ruling of the Supreme Court (SC) will pave the way for the investigation and prosecution of those who were involved in the use of the […]
The Bureau of Internal Revenue has collected P101.8 billion for the month of October 2014. The tax revenue collected is 6.5% or P6.2 billion more than in October of 2013. For October this year,2014, collections from operations amounted to P99.64 Billion, which is P6.42 billion or 6.88% more than in […]
We speculate on the fate of Ninio Hilario Fetalvo, Bicol’s man in Washington, USA. Will he stay longer, like maybe beyond August of 2017? Fetalvo earlier worked as Florida Communication Director for the Republican National Committee under Sean Spicer before joining him in the White House as Assistant Press Secretary. […]
“Oh, Calabanga, gem of the province, We will stand with pride and dignity, We will watch your fragile beauty, With much love and care . . . ” The song goes on a never ending refrain as it brings in a hundred and one memories; some happy and some sad. […]
It’s all set. On Thursday, Jan 14, the Supreme Court of the Philippines (SCOTP) en banc begins the preliminary conference on disqualification case of Senator Grace Poe-Llamanzares against the Commission on Elections (Comelec) which earlier ordered the delisting of her name in the ballot for the May 9, 2016 presidential […]
We get it. Bicolanos and travelers to and from the region will have to get used to flying and landing on four dated airports, one each in Legazpi, Pili (for Naga), Virac and Masbate. The one and only, but much vaunted, Bicol International Airport, or the Southern Luzon International Airport, […]
As the new dawn opens up in Geneva, Philippine senator Peter Alan Cayetano may have gotten a good night sleep already and has freshen up for his appearance at the United Nations Human Rights Council (HRC) Universal Periodic review today. Cayetano co-leads the country’s delegation with Senior Deputy Executive Secretary […]
The Philrem Service Corpoation, which is being involved in the alleged money laundering of about US $81 million stolen from Bangladesh Bank (BB), faces possible charges for violation of Bangko Sentral ng Pilipinas rule on third party reliance. During the Senate hearing on Thursday, Philrem owner Salud Bautista was asked […]
”My God, you will be shocked,” Presidential legal counsel Salvador Panelo said, giving mediamen a possible reaction to the new expose about local executives who will soon be identified by Malacanang. This as President Rodrigo Duterte will soon reveal the names of at least 27 local executives allegedly involved in […]
MANILA, June 29 — A day before the formal oath taking into office of Vice-President-elect Leni Robredo, Senator Ferdinand “Bong Bong” Marcos, Jr. on Wednesday personally filed before the Supreme Court (SC), as the Presidential Electoral Tribunal (PET), his election protest against the outgoing 3rd District congresswoman of Camarines Sur. […]
Did regret came too late? A girl who transitioned to becoming a boy during teenage year speaks of great regret for having done so. Charlie Evans “became” male for close to ten years before making a turn-around from a decision made. Evans detransitioned in 2018. But will it recoup the […]
Easily, then, Bicol river is both the queen and mother of all rivers in southern Luzon due to its size and influence. It holds sway and impact on the fertile and floodplains of the provinces, dictating the state of economic well-being and status affecting thousands of lives of people- including farmers, fisherfolks, travellers, etc., around its sphere of natural terrain.
Even as I have discussed and recalled memories, stories and current events about Siruma, I kept missing one more place much nearer our residence and of my father’s hometown. In a way, it is my third hometown, though. I am referring to Bolaobalite, which immediately stirred a chord in my […]
The Philippine Coconut Authority is recommending the inter-cropping strategy to coconut farmers after the devastation brought by killer typhoon “Yolanda” in Samar and Leyte provinces. PCA Albay official Ed Bailon said inter-cropping should be introduced as an alternative income of the affected coco farmers while waiting for the total recovery […]
QUEZON CITY, Nov. 10 — The Human Rights Victims’ Claims Board (HRVCB) has clarified all possible claimants application has until 12:00 midnight of November 10, 2014 to file their paperworks in its main office at ISSI, UP Diliman, and including all regional desks. The assurance of Akbayan Rep. Barry Gutierrez […]
Ex-President Fidel Ramos chides P-Noy on Mamasapano incident Former President Fivel V. Ramos sounded off a somewhat spicy message for President Aquino. “You must balance your actions with hot pursuit, this is law enforcement with peacemaking,” former President Fidel V. Ramos said in a speech during ceremonies in Intramuros marking […]
The Department of Labor and Employment said that about 13.90 per cent of Bicol employers do not comply with the current minimum wage rate as specified in Wage Order No. RBV-16 which stipulates P260.00 per day for establishments with more than 10 workers and P236.00 per day for those with […]
Laguindingan Airport in Misamis Occidental was gripped in fear when a man commandeered a passenger van in the airport compound and breached the main gate on Monday. Police identified the suspect as Victor Samban of Malaybalay City, Bukidnon. Junal Andaya, the driver of the commandeered passenger van, said that the […]
Live Stream: Poe-Llamanzares Vs. Comelec 4rth Oral Arguments at SCOTP This is the fourth live stream coverage of the Poe-Llamanzares Vs. Comelec 4rth Oral Arguments G.R. No. 221697 from the Supreme Court of the Philippines (SCOTP). Follow the update on the disqualification case for the presidential run of Senator Grace […]
