$81-M launder probe resumes after elections

MANILA, Philippines - The Senate has suspended its inquiry into the laundering of $81 million stolen by hackers from the Bangladesh central bank and diverted to four bogus accounts in Rizal Commercial Banking Corp. (RCBC).

“We have suspended the investigation because many members of the Blue Ribbon committee are on the campaign trail,” committee vice chairman Sen. Sergio Osmeña III said over the weekend.

He said they would resume the inquiry after the May 9 elections or after Congress reconvenes on May 23. “We still have time for more hearings when we reconvene,” he said.

He said the inquiry can continue even while Congress is canvassing the votes for president and vice president.

Lawmakers will meet principally as a canvassing board. They will proclaim the winners after the canvass.

Aside from Osmeña, senators who had been active in the Blue Ribbon hearings on the issue were committee chairman Teofisto Guingona III, Vicente Sotto III, Ralph Recto, Aquilino Pimentel III, Juan Edgardo Angara, Joseph Victor Ejercito, Paolo Beningo Aquino IV and Juan Ponce Enrile. Osmeña, Guingona, Sotto and Recto are seeking reelection.

Osmeña, chairman of the committee on banks, said he would propose amendments to the Anti-Money Laundering Law (AMLA) to include casinos and real estate companies in its coverage.

He said he has been pushing for the inclusion of casinos and real estate firms in the series of amendments that Congress had introduced in the law, but to no avail.

“On record, Senator Enrile has admitted opposing the inclusion of casinos,” he said.

He refused to identify his Senate colleagues who blocked putting real estate developers within the coverage of AMLA.

He expressed confidence that this time, due to the controversy generated by the $81-million money laundering scandal, Congress would approve the proposed amendments.

Most of the stolen Bangladeshi funds ended up in two casinos – Solaire in Entertainment City and Midas on Roxas Boulevard in Pasay City.

Osmeña has expressed confidence that the Senate would be able to recover between $32 million and $34 million of the $81 million.

Senators have urged all those who received or handled the stolen funds, including casinos and their regulator, Philippine Amusement and Gaming Corp., to return the money.