DZIQ: Banco Filipino closure linked to money laundering, says lawyer

MANILA, Philippines – The closure of Banco Filipino was intended to protect a prominent family allegedly involved in money laundering activities in the bank, a lawyer for the bank told Radyo Inquirer in an interview Wednesday.

“Ang masasabi ko lang ay may isang pamilya na tuwang-tuwa na nasarado ang Banco Filipino dahil ang money laundering activity nila ay hindi na mabubuksan [All I can say is that there is one family who is very happy about the closure of Banco Filipino because it would mean that their money laundering activities won’t be discovered],” said Attorney Harry Roque, one of the lawyers of Banco Filipino.

Roque promised to reveal to Radyo Inquirer the family’s identity not later than next week.

The BSP had alleged that Roque benefitted from the P245 million legal fees paid by Banco Filipino.

But Roque denied this, saying, “Baka mamaya may maniwala kidnapin pa ang mga mahal ko sa buhay [Somebody might believe them and members of my family might be kidnapped].”

He also claimed that the reason why the BSP did not help Banco Filipino was out of pride because the bank was the only one that won a case against the BSP.

“Ang binibigyan ng Central Bank ng tulong ay hindi ang mga nangangailangan, kundi ang malalaking bangko [Central Bank extends help not to those (banks) who need help but to big banks],” Roque said.

He said that BSP, particularly its Governor Amando Tetangco Jr, would only help the big banks that were close to the BSP. “May favoritism (BSP) kung sino lang ang malapit, yun lang ang tutulungan [There is favouritism.  The BSP helps only those who are close to it].”

Roque revealed that the BSP recently issued an emergency loan income to support a very big bank, which he refused to name.

He added that only four of the required five votes by monetary board members approved the loan.

He also said that there was no valid reason for the BSP not to help Banco Filipino.

He called on bank officials to come out against the BSP.

For the full report, listen to DZIQ 990AM