Laoag City treasurer flies to Hawaii following loss of P85-M

By: - Correspondent / @leiadrianoINQ
/ 02:39 PM June 16, 2016
A bank teller prepares stacks of 500 Philippine peso denomination for the banks automated cash dispenser 02 July 2007 with the local currency closing stronger at 45.905 to the US dollar. Asia may need to establish its own monetary fund if it is to cope with future financial shocks similar to that which rocked the region 10 years ago officials conveyed at the Asian Development Bank, regional forum in Manila.  AFP PHOTO/ROMEO GACAD

Philippine’s P500 bills in bunches. AFP PHOTO/ROMEO GACAD

LAOAG CITY—- The city government is tracking down its treasurer, Elena Asuncion, following the loss of P85 million from Laoag’s coffers.

Asuncion flew out of the country on Tuesday (June 14) on board a Philippine Airlines jet bound for Hawaii, after officials tried to secure a hold departure order against the city official, the Bureau of Immigration Office in Ilocos Norte said.


Asuncion was last seen attending the June 12 Independence Day celebrations here but she reportedly left before Laoag City Mayor Chevylle Fariñas could serve her a relief order for the discrepancies uncovered in the city government’s accounts.

At press time, the Provincial Treasury Office was assisting a team sent out by the Bureau of Local Government Finance (BLGF), which arrived here on Thursday to investigate the missing funds.


Lawyer Marlon Wayne Manuel, city legal officer, said the Commission and Audit would also conduct a parallel investigation.

Fariñas announced that she had re-assigned seven employees manning the cash division of the City Treasurer’s Office.

The mayor also sealed the treasurer’s office to preserve evidence until the completion of the audit report.  SFM/rga

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TAGS: Bureau of Immigration, Bureau of Local Government Finance, Cheville Fariñas, City Treasurer's Office, Commission On Audit, Crime, Elena Asuncion, Escape, fund discrepancy, government funds, Graft and Corruption, Hawaii, HDO, Hold Departure Order, Ilocos Norte, investigation, Justice, Laoag City, Laoag City Legal Officer Marlon Wayne Manuel, Laoag City Mayor Cheville Fariñas, Laoag City treasurer, law, Local authorities, Local Governments, Marlon Wayne Manuel, mayor, missing public funds, news, Provincial Treasury Office, Public funds, Regions
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