Tuesday, January 20, 2009

AMLA keeps mum on everything

At the Senate Blue Ribbon Committee hearing today, it seems the Anti-Money Laundering Council (AMLC) has effectively stonewalled investigations into the status of the bank accounts allegedly belonging to former Department of Agriculture Undersecretary Jocelyn "Joc-Joc" Bolante.

The status of Joc-Joc's bank accounts once again came up as an issue after the AMLA purportedly notified the banks with accounts supposedly belonging to Bolante that the freeze order on them already lapsed as of December 20. But at the same time, neglected to inform the Senate about the lapsing of the freeze order.

AMLC Executive Director Vicente Aquino however said that he expected the bank accounts to remain intact. But could not say for certain except for that their rules of procedure implied that the banks could not allow the accounts to moved in any way unless

Only an attachment proceeding or the filing of a case against Bolante would have prevented the unfreezing of the Bolante bank accounts.

Ostensible but true, the Solicitor General Agnes Devanadera said that the bank secrecy law prevented her from divulging if cases had been filed against Bolante.

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