Escudero: Probe on Duterte’s ‘ill-gotten’ wealth may ‘hit a wall’ sans cooperation of depositors
Without the “depositors” concerned, a Senate investigation into President Rodrigo Duterte’s alleged unexplained wealth might just hit a wall because of the Bank Secrecy Law, Senator Francis “Chiz” Escudero said on Monday.
Escudero is chairman of the Senate committee on banks, financial institutions and currencies, which has just been asked by Senator Antonio Trillanes IV to conduct the investigation.
It would still be up to the committee on rules, however, to decide where to refer Trillanes’ request, which was contained in Senate Resolution No. 602 filed on Monday morning.
“If it is referred to me, it’s my policy to hear all resolutions and bills referred to any of my committees,” Escudero said.
“However, as to how far we can go would depend on the cooperation of the depositors concerned. Without it, we will always be hitting a wall because of the Bank Secrecy Law similar to what we have been encountering in the case of Andy Bautista,” he also said.
Escudero was referring to resigned Commission on Elections chairman Andres Bautista, who is also accused of allegedly having unexplained wealth.
Escudero’s panel has already issued a subpoena against Bautista for repeatedly failing to face the investigation.