After the report on chronic money laundering, President Rodrigo Duterte ordered an in-depth investigation into the reported smuggling of dirty money into the Philippines by Chinese people in the country.
Presidential Spokesman Salvador Panelo said the President has appointed Finance Secretary Carlos Dominguez to investigate what Senator Richard Gordon has revealed in the country's alleged money laundering activities.
“That's really going to be investigated. Secretary Dominguez is the one investigating it. 'That's the report, we don't know for sure that's why there will be a probe,' said Panelo.
On Monday, Sec. The Bureau of Customs (BOC) has been in contact with the Anti-Money Laundering Council (AMLC) to investigate the nation's dollar-laundering syndicates. BSP governor Benjamin Diokno is the chairman of AMLC.
Dominguez referred to the Chinese syndicate as having invested $ 168 million or P8.54 billion, while the Rodriguez Group raised $ 200 million.
P22.69B smuggled in for 5 months
Over the course of five months, $ 447 million or P22.69 billion in dirty money went to the Philippines.
In his privilege speech, Gordon revealed that the amount was introduced by 47 individuals including several Filipinos from September 2019 to February 2020.
"A total of US $ 447 million or P22.69 billion was brought in by 47 individuals (including Filipinos) from September 2019 to February 2020," Gordon said.
Of that amount, Gordon said, some Chinese nationals have invested more than $ 210 million or P10.6 billion.
"The total amount brought in by the Chinese individual was $ 210 million or P10.6 billion (46.98% of the total amount)," said Gordon, chair of the Senate Blue Ribbon Committee.
The dirty money brought by the Chinese and some Filipinos came from Hong Kong, Singapore and Bangkok, Thailand.
Gordon said the money was declared as foreign exchange, investment, travel and casino, business and travel.
Among the Chinese entrants include Kai Lung Choi ($ 9.8 million, 4 transactions), Kei Him Chan ($ 21 million, 7 transactions), Sheung and Rony Hui ($ 24 million, 7 transactions), Wai Yip Leung (P17.8 million, 5 transactions), Chung Shing Wong ($ 26.6 million, 8 transactions) and Ka Hei Lee ($ 8.9 million, 3 transactions).
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