East West Bank branch head appears at Senate probe on money laundering

The branch manager of East West Bank (EWB) in Bonifacio Global City, who was dragged into the alleged $81-million money laundering scheme, showed up at Thursday’s resumption of the Senate probe on the controversy.

EWB branch manager Allan Peñalosa’s name cropped up during last Tuesday’s hearing of the Senate blue ribbon subcommittee when businessman William So Go pointed to him as the one who facilitated his meeting with Rizal Commercial Banking Corp. (RCBC) branch manager Maia Santos-Deguito.

READ: East West Bank probes P200-M bribe offer

Deguito allegedly facilitated the opening of bank accounts of Go and four other individuals, who received and withdrew the $81 million funds allegedly stolen from the Bank of Bangladesh and laundered into the Philippine financial system.

In the said meeting with Deguito, Go said the RCBC manager allegedly confessed to opening an account in his name. He said Deguito also offered him P10 million to go with the scheme.

READ: Trader says Deguito has confessed to him

Go, Deguito and other RCBC officials were again invited at the resumption of the hearing this Thursday afternoon.

Also invited were the four other account holders—Michael F. Cruz, Jessie Lagrosas, Alfred Vergara and Enrico Vasquez—who could not be located anymore at their given addresses during the first hearing.

Cristino Naguiat, president and chief executive officer of the Philippine Amusement and Gaming Corporation and officials of the Anti-Money Laundering Council were also invited in the hearing. RAM