Month: April 2016

The money trail back to Bangladesh

We are finally making headway in locating portions of the $81 million stolen from Bangladesh and siphoned into the Philippines.

So far we have confirmed that Solaire Resort & Casino received P1.365 billion ($30 million) and Eastern Hawaii Leisure Company, owned by casino junket operator Kim Wong, received P1 billion ($23 million) of the stolen money.

Based on money transfer firm PhilRem’s testimony before the committee, it was alleged that around $30.64 million, broken down to $18 million and P600 million, was delivered to Weikang Xu over 6 tranches.

It was only during the Senate hearing last March 29 that we were able to dissect further the location of a portion of the stolen money with the testimony of Kim Wong.

Wong contested PhilRem’s testimony and claimed that they only released P400 million and $5 million over 4 tranches.

Wong also testified to receiving P1 billion from Philrem: P450 million ($9.7 million), which he accepted as payment for a debt of one Shuhua Gao, and P550 million entered to Midas Hotel and Casino. However, of the P550 million, P510 million was lost to Midas and only P40 million is left.

Since his statement, Wong has already turned over P38 million ($863,000) and $4.63 million to the Anti-Money Laundering Council (AMLC) for safekeeping. He has also stated his willingness to return the P450 million or $9.7 million paid to him to cover Gao’s debt, but requested for a month to deliver.

Today, a total of about $5.5 million has already been reclaimed from Wong. And once he is able to return the additional $9.7 million, we will have recovered $15.2 million of the $81 million stolen from Bangladesh.

On the other hand, PhilRem offered to return the P10.47 million (about $232,000) representing the fee they purportedly received for conducting the transactions. However, this was rejected by Bangladesh.

In the case of Bloomberry Resorts, operator of Solaire, they’ve stated that they were able to freeze $2.33 million or P107 million of the stolen money in their casino – another amount we can add to the pot for Bangladesh, should they agree to turn it over.

We will continue to probe the money trail through Solaire and will seek to verify if there is still recoverable dirty money in Midas.

Plus, there is the issue of the other junket operators that are still in the process of confirming receipt of over P1 billion from Solaire.

In the next few weeks, we should be able to pinpoint the rest of the illicit funds so we can return as much as we can to Bangladesh.

The AMLC already said that it is within their powers to reclaim money that is laundered ‘regardless of where the money went. However, they would need to go through a court process and the necessary legal proceedings, which will inevitably take time.

The question is whether these institutions will contest a possible civil forfeiture of laundered money still within their coffers.

If I were them, instead of fighting the court case, I would, in good faith, turn over to the AMLC all illicit funds that coursed through their internal systems.

“Yung maduming pera, dapat ibalik,” said Wong. We can hope everyone shares this sentiment.

This flagrant crime perpetrated in our shores with the involvement of Philippine individuals and institutions has tarnished our country’s reputation and now the world is watching our every move.

A crucial step in redeeming ourselves is to return as much of the stolen money to Bangladesh at the soonest possible time.

Are you following the investigation of the stolen $81 million from Bangladesh? Whose story do you believe? What questions would you ask the resource persons?

First Published on Manila Bulletin

Bam lauds staging of ESL One in PH

Sen. Bam Aquino, an avid supporter of the eSports industry, lauds the staging of the ESL One Dota Tournament in the country, saying this is a chance to show cyber athletes from around the world that eSports is more fun in the Philippines.

The ESL One will be held for the first time in Southeast Asia with the first-ever premium Dota 2 tournament at the Mall of Asia Arena from April 23 to 24.

 The event will feature top teams from around the world as they battle for a lion’s share of the $250,000 top purse and the honor of becoming ESL One champion.

 Sen. Bam is expected to grace the event’s kickoff on Saturday (April 23).

Sen. Bam said the event will put the country as the next mecca for eSports and will bring fresh employment and business opportunities for Filipinos.

“ESL coming to the Philippines, will bring business opportunities and prestige to the country,” said Sen. Bam.

The office of Sen. Bam has been extending assistance to the local eSports community as support for the growth of the community and development of the e-industry in the country.

“We’ve been greatly impressed working with our eSports community and our Filipino cyber athletes, not only with their success in global competitions, but also in their dedication to professionalize our local eGaming industry,” said Sen. Bam. 

Through Sen. Bam’s initiative, the Philippine eSports Association (PeSPA) was formed to strengthen the foundation of eSports in the country.

Bam on $81M Scandal: Magkaiba ang Sinasabi nina Wong at ng Philrem

Transcript of Interview on Pasada Sais Trenta

 

Karen Davila: Ano ang future ng pagbabayad sa Bangladesh? Ito muna tayo, Sir, based on your calculation. Iyong puwedeng ibalik ni Kim Wong, puwedeng ibalik ng Pilipino, magkano lang talaga Senator Aquino ang accountability na puwedeng ibalik?

 

Sen. Bam: Actually Karen kung tutuusin may 61 million dollars na pumasok. Iyon ang una nating titignan kung ano ang pwedeng makuha doon sa 61 million. Ang iba pumunta kay Kim Wong, may iba pumunta sa Solaire at ia-analyze natin ang puwede pang ibalik and I think si Mr. Wong said na magbabalik siya ng pera.

Humingi nga ng 30 days para mabuo niya iyong 450 million pesos na nasa kanya pa.

Ang pera na nasa casino, ang tanong diyan, ano diyan ang na encash? Iyon, mahirap ng habulin iyon kasi cash na iyon.

Pero ang nilaro sa kanilang sistema at whether kumita, natalo or anoman, basta nandoon sa loob ng sistema nila, dapat ibalik iyan ng mga casino sa Bangladesh.

 

Karen Davila: Kumbaga ang sinasabi mo, Senator, kasi let’s not be naïve, ayoko naman magsabi na ganito ang Solaire o ang Midas, pero alam mo many casinos all over the world, when the house wins, sabi ko kay Vic dinidistribute na iyan eh. Kasi may agreement na rin iyang mga iyan.

Sen. Bam: Tinanong ko iyan kay Executive Director Abad. Puwede talagang habulin ang pera na yan. Ang sabi niya, pwedeng habulin ang perang iyan through a civil forfeiture case. So ibig sabihin, magpa-file siya ng civil forfeiture, ang tanong, kung ico-confess ba ng mga casino at mga institution ang kasong iyon.

Kasi kapag cinonfess nila ang civil forfeiture case ibig sabihin, they’re claiming its theirs. Diba? Sa amin na ang perang iyan. But kung hindi nila i-coconfess at sabihin nilang, “Sige parang ginagawa ni Kim Wong iyon.”

Hindi po. Ibabalik niya lang kasi he recognized na mali ang pinanggalingan ng perang yan o madumi ang pinanggalingan ng perang iyan para lang ibalik.

That’s why I was telling Executive Director Abad, mag-file na kayo para magkaalaman na.  Kasi lahat nagsasabi na mag-cocooperate po kami, mag-cocooperate kami pero pagbalik kaya ng pera. Hindi iyan totoong cooperation.

Kung madumi ang pinanggagalingan niyan, puwede talaga iyang magpalitan kasi if within our laws, ang kailangan lang ay court order.

Ang tanong, papaabutin ba ng mga casino na 35 years, 30 years ang kasong iyan? Papaabutin pa sa supreme court bago sila mag comply?  Or in good faith dahil alam naman nating galing ito sa ating bansa at nakaw ito, ibalik nalang nila kaagad.

 

Vic: Senator, bakit kailangang makarating sa punto na “hindi, pera namin ito. Knowing na it’s dirty money.” Bakit nila ike-claim na kanila iyon?

 Karen Davila: Kasi casino sila. Iyon iyon eh. Not anything specifically. Tanong ko lang, Senator, iyong junket operator na si Mr. Chao, technically he received the biggest amount, 900 million. And sabi ng abogado niya, tinatally pa raw ni Mr. Chao kung iyon talaga ang binigay sa kanya.

Pero do you remember, Senator, kung magkano ang napanalunan ni Mr. Chao, magkano ang naiwan sa Solaire?

 

Sen. Bam: Wala pa iyon. Pero nangako ang abogado that they will protect the accounting pero last hearing, kanina lang, tinanong ko na rin sila kung ipapabalik ang pera. Kasi kung mayroong na-encash, ibang usapan na iyon. Kasi wala na sa kanila iyon eh diba?

Now secondly, pagbukas natin at ito ang in-account naman po ni AMLC, kung talagang galing sa nakaw iyan, mayroon talagang legal remedy.

Iyong legal remedy diyan ay magbalikan. Hindi imposible iyon. In fact, that’s probably what’s going to happen. Ang tanong lang, pahahabain pa ba natin ang proseso kung from the beginning, in good faith pumayag na tayo. Ibalik nalang natin ang pera.

Nakakahiya. Magkaharap iyong mga resource speakers na siguro may kinalaman dito sa mga taga-Bangladesh. Hindi lang ambassador, nandoon pa ang representative ng AMLC nila, may mga representatives po sila.

Can you imagine Karen? Kung ito ang nangyari sa Pilipinas, can you imagine ang iskandalong nangyayari kung ninakawan tayo ng 81 million dollars?

Kaya ako, the fastest na maibalik natin ang perang iyan, the better for our country.

 

Vic: May tanong dito ah. Hindi ko na sasabihin sa iyo pero galing sa Congressman. Bakit hindi habulin ang mga naglaro? Iyong tao dapat ang hulihin. Si Mr. Chao at iyong mga ibang naglaro.

 

Sen. Bam: I agree. Dapat habulin din. Hindi pa na-poproduce kung sino ang mga taong iyan.

 

Vic: isa pang tanong. Sabi nga ni Sen. Enrile kanina nakikita ko ang body movements ng mga resource speakers, why is it that only Kim Wong ang agresibong magbalik ng pera? What’s happening to Philrem?

Bakit si Kim Wong, kahit iyong utang sa kanyang 450M, utang nga sa kanya iyon, inilabas pa rin niya. How is that?

 

Sen. Bam: Alam mo, Vic, until now sinasabi ng Philrem na wala ng pera na nasa kanila. Ang testimonya nila, wala ng pera sakanila. But again, I will show it out ano? Magkaibang-magkaiba ang kwento ni Kim Wong at ang kwento ng Philrem.

Ang difference nila, 13 million dollars and 200 million pesos. Iyon ang pagkakaiba sa kwento nila. Ang kung totoo nga na na encash nila yan, Karen nandito pa yan sa ating bansa. 13 million dollars and 200 million pesos. In speculation yan kung totoong na encash nila.

And ako kanina, I wanted to point out rin ang inconsistency sa mga kuwento kasi every hearing, paiba-iba ang kuwento.

 

Karen Davila: Actually, Sen. Aquino, I agree with you. Nakakainsulto na nga ito si Deguito at Philrem. Parang grabe ang tolerance ng mga Senador.

Una tama ka, paiba-iba ang kuwento. Pagkatapos niyan ang lakas ng loob gumawa ng ganito, pagkatapos lalabas na kunwari walang nagkakaalaman sa Senado.

Ito sir ang gusto kong tanungin, is it possible in a way, alam mo si Kim Wong maraming bumibilib sa kanya eh. Dahil at least siya ang pakiramdam ng iba, buti pa ito nagsasauli ng pera.

Is it also because, let’s be honest, kasi ang casino, any money you receive today, is not covered under AMLAC so technically hindi mo makasuhan si Kim Wong, is that correct?

 

Sen. Bam: I think if I’m not mistaken kasama na siya, under investigation na siya ah. Kahit itong pagbabalik niya ng pera, hindi ko alam kung mali, kung kakasuhan siya o hindi but kumbaga kapag nasa korte na ito, syempre titingnan ng korte kung sino ba ang nagbalik ng pera? Diba? Siyempre kasama yan sa determination.

Right now, ang line up question ko is ano ang maibabalik natin kaagad? Ang perang dumaan sa Midas, we’re trying to find out kung maibabalik talaga ang pera na iyan.

Ang perang nasa Solaire sabi nila, ang karamihan pumunta doon sa 2 junket operator, pero meron ding nilaro sakanila.

 

Vic: Are we running after the 61 million or just a part of it?

 

Sen. Bam: Dapat lahat. Kasi ito nga ang tanong ko kay AMLC eh. Sabi ni AMLaC basta galing sa money laundering yan, galing sa maduming bagay iyan, ang ending niyan sa korte, civil forfeiture.

Kung ano ang nagamit mo gamit ang perang iyan, magbabalikan. And ako naman, ang tingin ko, if you are a valid and legal institution, bakit mo kikimkimin ang pera na alam mong madumi? Dapat kusa mo nang ibalik yan.

Now, baka sabihin ng mga iba ay wala namang court order. So sabi ko, mag-file na kayo ng civil forfeiture, kasi kaso yan. Pero ang kabilang panig, huwag na nilang i-confess o huwag na nilang i-claim ang perang iyan.

Ibalik na nila kaagad. And there, makikita talaga natin kung sino ang gustong kimkimin ang maduming pera, at sino ang handang magbalik.

 

Karen Davila: Now on another note, ano ang liability or accountability ng isang remittance company katulad ng Philrem? Ipaintindi niyo sa amin, Sir, kaming mga ordinaryong Pilipino, kunwari kami ba ni Vic, pwede ba kaming magtayo na lang ng remittance company tapos may magbibigay sa amin ng 20 million dollars at maghahanap kami ni Vic.  Kami pagpapalit all over, ano po ba ang accountability ng ganoon?  

 

Sen. Bam: Well unang-una, Karen at Vic, talagang mag-uulat ang mga hearing ng mga reporma sa batas kasi marami talagang nagsasabi na ang casino ay hindi under AMLA, pagiging maluwag sa mga remittance company. Iyon talaga ang kailangang baguhin.

 

Karen Davila: Pero actually ang remittance company ay under AMLA no?

 

Sen. Bam: They are a covered institution.

 

Karen Davila: Pero ang isang kumpanya na tulad ng Philrem which is a remittance company, ano ang nakasaad sa batas sir? At a certain amount should they report it?

 

Sen. Bam: Ang alam ko walang ganoong rule.

 

Karen Davila: Ang Philrem, hindi pa inaamin sa Senado kung magkano ang kinita nila sa lahat ng ito. At the very least si Kim Wong alam natin kung magkano ang kinita niya, magkano ang nasa kanya. Itong Philrem, inuuto tayong lahat.

 

Sen. Bam: Ang testimonya nila ay mga 10 million ang kanilang kinita. Although ako, honestly hindi ako naniniwala na ganitong kalaking pera tapos 10 million lang ang kikitain mo.

Now, ako kasi, hangga’t hindi nagtutugma ang testimony ni Kim Wong pati ni Philrem, it clearly shows na mayroong isa diyan na nagsisinungaling.

13 million dollars and 200 million pesos ang pinagkaiba ng kanilang kuwento. Malaki talagang pera iyon.

 

Karen Davila: Alam mo actually, Senator, nakaka-disturb na ang actuation ng Philrem owners specifically iyong Irene Bautista, she’s very casual.

 

Sen. Bam: Ako the fact na every hearing may dumadagdag sa kwento, palagay ko nakita niyo kanina medyo nainis talaga ako. Nainis ako dahil every single time, nag-iiba ang kwento.

Dumadagdag. Ang una, 600 million pesos lang. Iyong pangalawa, naging 680 million.

Iyong pangatlo yata si Wei kansu lang o kasama pala si Kim Wong. Ngayon, may mga transaksyon na hindi pala kasama si Kim Wong, so medyo paiba-iba.

Now, lahat iyan lalabas sa report. Lalabas iyan sa determination namin ng mga nakikinig, lalabas at lalabas ang mga inconsistencies nila.

 

Karen Davila: At hindi lang iyon Sen. Bam. Magkano ang kinita ni Deguito rito? Let’s face it, si Kim Wong nagsasauli ng pera. Si Deguito nagbasa pa ng speech sa Senado kanina na ang drama niya ang ginamit po ako, nagpagamit ako para ma-advance ang career ko pero we are all forgetting iyong testimonya ni Agarato sa bangko na ang lakas ng loob nitong si Deguito na, “Oh magkano retirement mo? Limang milyon ba?”

Nakita niyo sir, ito ay isang babae na in her scope of power, was also bribing people sa range po niya.

 

Sen. Bam: Naniniwala ako na maraming involve dito. At least iyon naniniwala ako doon.

 

Karen Davila: Kanina one of the advances na ginawa ninyo is you made an effort na alamin sa LTO kung totoo ang mga lisensya na sinubmit which I have to say that was quite good entrepreneurial work and in your staff. 

Because ang nangyari ngayon, ang RCBC napa-oo ninyo na dahil nag submit ang LTO na lahat fake, napa-oo ang RCBC that they will open all the fictitious accounts. Tama ba sir?

 

Sen. Bam: Yes. Tama iyon Karen.

 

Karen Davila: Sen. Bam last question po. I’m curious, noong nagbigay ng stop payment order ang Bangladesh government, ang central bank ng Bangladesh ay humingi ng stop payment order.

Was it a US Federal Reserve or iyong Bangladesh ang humingi ng stop payment order?

 

Sen. Bam: Hindi ako sure Karen. On Thursday, masasabi ko po kung sino ang nag decide. I’m just not sure right now.

Bam: Barangay Captains Can Now Administer Oath to Next PH President

Sen. Bam Aquino’s measure empowering barangay captains to administer the oath of office to the country’s next president has been signed into law by President Aquino.
 
The Chief Executive has signed Republic Act No. 10755 last March 29, 2016, which will give barangay chairmen power to administer oath of office of any government official, including the President of the Philippines.
 
“By empowering the Punong Barangay to administer oaths is an affirmation and recognition of its critical role in our society,” said Aquino, co-author of the measure.
 
Aside from carrying out government programs and projects in the barangay level, the Punong Barangay also serves as the leader and a source of legitimacy by its constituents,” the senator added.
 
The new law will amend Chapter 1, Section 41 of Executive Order 292 to include barangay captains among officers who have general authority to administer oath.
 
Barangay captains will join other officials who have the authority to administer oath to any government official, among them the President, Vice President, Members and Secretaries of Both Houses of Congress and Members of the Judiciary.
 
Under EO 292, officials who have the power to administer oath are Members of the judiciary, department secretaries, governors, vice governors, city mayors, municipal mayors, bureau directors, regional directors, clerks of court; registrars of deeds and other civilian officers in the government whose appointments are vested in the President and are subject to confirmation by the Commission on Appointments.
 
Other constitutional officers, public attorney’s office (PAO) and notaries public are also empowered to administer oath.
 
This is Aquino’s 10th law in less than three years as senator. Recently, Sen. Bam’s measure giving value-added tax exemption to persons with disabilities has been signed into law.

NEGOSYO, NOW NA!: Pambansang Sanglaan

Mga Kanegosyo, isa sa mga takbuhan ng mga kababayan tuwing nangangailangan ay ang sanglaan.

Dito, maaari tayong makautang kapalit ng ating alahas, gaya ng singsing, kuwintas, hikaw at relo, bilang sangla.

Isa sa mga kilalang sanglaan sa bansa ay ang Cebuana Lhuillier na mayroon nang 1,800 sangay sa buong Pilipinas.

Ang may-ari nito na si Philippe J. Lhuillier ay lumaki sa industriya ng sanglaan. Ang kanyang ama, si Henry Lhuillier, ay gumawa ng marka sa nasabing negosyo nang itatag niya ang Agencia Cebuana sa Cebu noong 1953.

Habang nag-aaral, maraming oras din ang ginugol ni Philippe sa sanglaan ng kanyang ama. Inaral niya ang lahat ng trabahong may kaugnayan dito, mula sa paglilinis ng alahas, vault custodian at counter supervisor.

Sa matagal niyang paglalagi sa sanlaan, natutunan niyang pahalagahan ang negosyo ng ama.

Nang magtapos sa kursong Management noong 1968, sumunod siya sa yapak ng ama at binuksan ang unang sangay ng Agencia Cebuana sa Libertad, Pasay.

Sa gitna ng kaguluhan sa bansa noong dekada sitenta at otsenta, nadagdagan pa ang kanyang mga sanglaan.

Noong 1987, naging pambansa na ang kanyang negosyo, na kanyang binigyan ng bagong pangalan – Cebuana Lhuillier.

Ito ay nagsisilbi sa halos 100,000 customer bawat araw sa lahat ng sangay nito.

***

Bitbit ang aral na natutunan sa ama, tinitiyak niya na ang serbisyo sa customer ay sinasamahan ng totoong pagkalinga sa nangangailangan.

Sinamahan niya ang sanglaan ng iba’t ibang serbisyo para sa mga nagsasangla, tulad ng Renew Anywhere, kung saan puwede nang mag-renew ng transaction saan mang sangay ng Cebuana Lhuillier.

Ngayon, kilala rin ito bilang one-stop shop na nagbibigay ng maraming serbisyo, gaya ng international at domestic remittance service, micro-insurance, rural bank, foreign exchange, bills payment at e-load service.

Maliban sa pawnshop, sinimulan na rin niya ang iba pang negosyo, gaya ng hotel, paggawa ng alahas, information technology, at kalusugan.

***

Malayo na talaga ang narating ng Cebuana Lhuillier.

Ngunit ayon kay Philippe, isa lang ang hindi nagbago sa kanyang negosyo – ang totoong kalinga sa mga customer na sinimulan ng kanyang ama ilang dekada na ang nakalipas.

Aniya, walang halaga ang pagiging matagumpay na negosyante kung babalewalain mo ang pagbibigay ng de-kalidad na serbisyo sa customer na nangangailangan ng agarang tulong.

Ang marka ng tunay na negosyo ay ang pagbibigay ng magandang serbisyo at ang papasok na kita ay siyang resulta nito.

Bam on Kim Wong

Kim Wong returning 4.6 million dollars is only the first step.

In the previous hearing, we know that he received much more than that. In fact, I am hoping that all institutions that  received the illegally acquired funds will return it at the soonest possible time.

We should insist that the other junket operators, casinos and other institutions return the money that coursed through them, in good faith, and because it is the right thing to do.

Of course, these actions will not absolve any party as the investigation by the authorities is ongoing and the the true picture of what happened is still unclear to the public.

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