AMLC needs court order to return stolen money

The Anti-Money Laundering Council (AMLC) will wait for a court order before turning over the money it had recovered from businessman Kim Wong to Bangladeshi authorities, Sen. Teofisto Guingona III said Wednesday.

Guingona, who chairs the blue ribbon committee looking into the  laundering of $81 million stolen from the Bangladesh central bank, said the AMLC would file a civil forfeiture case for the recovery of the money that Wong had returned in accordance with procedures under Philippine laws.

The AMLC made this decision on Tuesday after the committee’s fourth hearing on the scandal, said Guingona, who met with AMLC officials.

“We arrived [at the conclusion] that the most prudent thing to do was to file a case. That is the process of the law and we should follow the process,” he said in a phone patch interview with reporters.

It would be better, he said, if a confirming authority would determine that the money belongs to Bangladesh and orders its return to the owner. Otherwise, the AMLC might be questioned on what basis it used to hand over the money, he said.

“When they have a court order, that is the time they will turn over the money to Bangladesh,” he said.

Bangladesh Ambassador John Gomes has been asking for the return of the money, Guingona said. Gomes has been assured he would receive the funds following compliance with legal procedures, the senator said.

Wong has so far turned over $4.63 million and P38.28 million of the stolen money to authorities. He promised to return P450 million more in 15 to 30 days.

Wong received the funds in connection with his role as a casino junket operator, but pointed to two other individuals as those who had knowledge of the entry of the $81 million into the Philippines.

Guingona also said the civil forfeiture case was not expected to be lengthy as long as there was nobody expected to contest the forfeiture of the money. The case could be over in one to two weeks, he surmised.

“Usually, these cases take long if there are people contesting these, if they will file something saying this is not the money of Bangladesh, this is my money. In this case, I don’t see anybody filing an intervention saying it is their money and not Bangladesh’s money,” he said.

The first forfeiture cases could be filed concerning the $4.63 million and P38.23 million. The next case could be filed when Wong turns over the P450 million.

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