MANILA — Rizal Commercial Banking Corp. (RCBC) President and CEO Lorenzo Tan is willing to go on leave while investigation on the alleged money laundering involving the bank’s Jupiter branch in Makati City is on-going.
Tan’s lawyer, Atty. Francis Lim, in a statement Friday, clarified that the RCBC chief “has not offered to resign from the bank.”
“He has offered to go on leave to give the bank a free hand in investigating the alleged money laundering issue involving its Jupiter Branch in Makati and its branch manager,” he said.
“The bank’s board thanked him for his gentlemanly and decent gesture but said their trust in him is intact and unshaken,” he added.
Anti-Money Laundering Council (AMLC) is investigating the alleged money laundering activity, which involved some USD 81 million allegedly laundered by hackers from the US account of Bangladesh Bank, Bangladesh’s central bank, with the Federal Reserve of New York in February 2016.
The money was placed in several accounts with the RCBC Jupiter and was consolidated through an account reportedly owned by businessman William Go, owner of DBA Centurytex Trading.
Four individuals, identified as Enrico Teodoro Vasquez, Alfred Santos Vergara, Michael Francisco Cruz and Jessie Christopher Lagrosas, are now under investigation by the Anti-Money Laundering Council (AMLC). They own the RCBC accounts in Jupiter branch that received the questionable funds last Feb. 4.
Reports by a national daily, Philippine Daily Inquirer (PDI), said about USD 25 million was transferred to Vasquez’ account, USD 19.99 million in Vergara’s, USD 6 million in Cruz’ and USD 30 in Lagrosa’s. Joann Santiago/PNA/northboundasia.com