AMLC on trail of Que ransom

MANILA, Philippines — Financial regulators are on the trail of the P200 million paid in connection with the kidnapping and killing of Chinese-Filipino businessman Anson Que, which was reportedly funneled through casino e-wallets and converted into cryptocurrency to obscure its origin.

In a statement, the Anti-Money Laundering Council (AMLC) said it is working closely with the Philippine National Police (PNP), the Philippine Amusement and Gaming Corp. and casino operators to trace the money trail linked to the P200-million ransom payment.

“The ransom monies were originally paid in Philippine peso and US dollars but were later converted to cryptocurrency,” the AMLC said.

Authorities have identified junket operators 9 Dynasty Group and White Horse Club as being allegedly involved in facilitating the money laundering process.

“The illicit scheme reportedly utilized e-wallets intended exclusively for casino gaming, shell accounts, and cryptocurrency to obscure the money trail,” the dirty money watchdog said.

Both groups reportedly ceased junket operations in Philippine casinos on May 7, with 9 Dynasty also announcing its exit from the local market. However, the AMLC will continue to probe their alleged money laundering activities.