Why does Maia Santos Deguito’s testimony have to be in executive session? And why does she want Anti-Money Laundering Council officials excluded from the closed-door hearing? It had to take Senator Juan Ponce Enrile to reject Deguito’s request for executive session to give full disclosure. But in the end he was outvoted by the majority in the Senate banking committee inquiring into the $81 million hacked from the Bangladesh bank account in New York.
“Who are you to ask for an executive session? You can tell all at this hearing, and if you have a death threat, tell us,” fumed an exasperated Enrile who threatened to cite Deguito for contempt. Enrile’s motion to cite Deguito for contempt prompted committee chairman Teofisto Guingona III to call for a recess. Senators Tito Sotto, Alan Cayetano, and Guingona favored an executive session for Deguito’s testimony and convinced the committee to hold the executive session.
The RCBC Jupiter branch manager is a major player and her role in this whole sordid affair has to be unraveled. The guilty have to be punished. This is a transnational crime that has sent shock waves to the banking world. It has given the Philippines a black eye—from a transshipment point for drug trafficking to the world’s money laundering capital, how can it get any worse? This is a country awash with cash but sadly nothing trickles down to the down-trodden.
This latest caper is an intricate web of conspiracy involving bank officials and the suspect beneficiaries who opened a paltry $500 account, left it dormant for a year until the huge $81 million hacked from the Bank of Bangladesh account came in. There must also have been collusion at the other end of the Bangladesh bank in Dhaka. The Bangladesh bank’s printer was not working during the four days the bank could have received instructions to stop payment of the siphoned $81 million. The RCBC Jupiter branch’s CCTV camera was also not working on Feb. 5 when some P20 million was withdrawn by Deguito.The withdrawal slip allegedly signed by depositor William Go was placed in a bag and taken to Deguito’s car which immediately took off. This was according to branch official Romualdo Agarrado who said he witnessed the whole proceedings.
When off-loaded from a PAL flight about to take off, Maia Deguito said she and her husband were taking their son to Disneyworld in Tokyo. Was she fleeing when the whole thing blew up and made news headlines? The senators should have asked for the Deguitos’ plane tickets to determine whether there was no onward flight from Tokyo. Their booking and flight itinerary can be easily secured from the airline. It would lend credence to Deguito’s claim if she can show they only bought and booked a Manila-Tokyo-Manila round-trip ticket without any onward flight to the US. Her claim she acted with the full knowledge of bank higher-ups was disputed by RCBC president Lorenzo Tan who said he does not know and has never met his branch manager.
“She [Deguito] is five layers below me,” said Tan as he dismissed her claim like saying he does not get involved with the household help. We thought all along that hands-on bank presidents meet with branch managers at least once a year to see how business is doing. Raul Tan, RCBC treasurer, however, testified Jason Go, a valued bank client and close friend of Lorenzo Tan, had a hand in the assignment of Maia Deguito to RCBC Jupiter branch which was approved by the board.
Philrem head Salud Bautista, on the other hand, smiled, made faces and stalled for time when answering questions. She claimed Philrem earned a pittance in the handling of the $81-million remittance converted to pesos which purportedly ended at the casinos. Because they boost tourism and earn foreign currency revenue, casinos are exempted from the purview of the AMLC’s prying eyes. The Senate inquiry supposed to be in aid of legislation is considering including casinos financial operations under the scope of the anti-money laundering law to plug this loophole.
Questions are also being raised as to the effectiveness of the Philippine Amusements and Gaming Corp. and its role in regulating casino operations.
The senators also did not ask the lawyer representing suspect Kam Sin Wong a.k.a Kim Wong for a doctor’s certificate to prove his client was unable to attend the hearing because he was in Singapore for medical treatment. How convenient. The senators left it that without asking when Wong would be able to attend the next hearing.