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BY PRINCE GOLEZ
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February 6, 2018
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Trillanes: Call to probe Prez over bank deposits ‘valid’
MANILA – Sen. Antonio Trillanes IV insisted that he was making a “valid” call to investigate President Rodrigo Duterte for allegedly undisclosed bank deposits and investments.
Trillanes said he was just responding to the challenge from Duterte himself for critics to look into what they claim as his possibly ill-gotten wealth.
One of Duterte’s fierce critics, Trillanes filed on Monday Senate Resolution No. 602 that pushed for the investigation. He suspected that the President was engaged in money laundering.
The resolution cited a VERA Files report that Duterte and daughter Sara Duterte-Carpio, mayor of Davao City, failed to declare their joint deposits and investments at the Bank of the Philippine Islands exceeding P100 million.
These included a P48.17-million placement in 2006 that grew to P55.13 million by 2013; a P40.55-million investment in 2009 that stood at P41.72 million in 2013; about P10 million from 2006 to 2012; the purchase of P80 million in insurance policies in 2014; and a P16.85-million investment that began in 2014, the resolution stated.
Trillanes suspected that the amounts in these “covered transactions” were illegally obtained.
“It is the State’s policy to protect the integrity and confidentiality of bank accounts and ensure that the Philippines is not used as a money-laundering site for proceeds of unlawful activities,” read part of his resolution.
Under Rule 3 of the Revised Implementing Rules and Regulations of the Anti-Money Laundering Act, a covered transaction refers to “a transaction in cash or other equivalent monetary instrumental exceeding P500,000” or “a transaction exceeding P1 million in cases of jewelry dealers, dealers in precious metals and dealers in precious stones.”
Earlier Trillanes urged Duterte to “bare it all” and “sign the waiver” to allow scrutiny of his bank transactions.
Duterte “has been dilly-dallying in his statements” and “bluffing the people by publicly ordering the AMLC (Anti-Money Laundering Council) to investigate his alleged bank accounts.”
“We all know that the AMLC would not do it unless he (Duterte) signs a waiver on bank secrecy,” the senator said./PN
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