Kim Wong returns P38.28 M

MANILA, Philippines - Casino junket operator Kim Wong yesterday turned over another P38.28 million to the Anti-Money Laundering Council (AMLC) for safekeeping as he sought more time to raise the remaining P450 million that was part of the $81 million stolen electronically from the Bank of Bangladesh.

Wong’s legal counsels Inocencio Ferrer Jr. and Victor Fernandez delivered the amount to the AMLC.

Fernandez revealed Wong’s request at the Senate Blue Ribbon committee during last week’s hearing for 15 to 30 days to raise the P450 million that he got from Gao Shu Hua as payment for a loan. The AMLC detected two counterfeit P500 bills and Wong’s lawyers promptly replaced them.

Fernandez said Wong is still raising the amount and is even looking at selling some of his properties to be able to return the money.

In a letter to AMLC chair Amando Tetangco Jr., Fernandez and Ferrer said Wong and Eastern Hawaii Leisure Co. turned over P38.28 million abandoned by Gao in Eastern Hawaii and Midas Casino.

“We reiterate that this token of utmost sincerity and effort to cooperate and retrieve the funds abandoned by Gao in Eastern Hawaii and/or Midas Casino should not be interpreted or construed, directly or indirectly, as an admission by Eastern Hawaii or Wong of any guilt, or participation in, or complicity to the offense for which Wong is being charged by AMLC or any suits, cases or proceedings relating to or in connection with the subject matter of the aforementioned hearing or investigation,” the lawyers stated in a letter.

In a press conference, AMLC executive director Julia Bacay-Abad confirmed the receipt of P38.28 million from Wong’s lawyers.

2 hours of counting

Abad said the money turned over by Wong’s lawyers – consisting of bundles of P1,000 and P500 bills – was counted and verified for two hours by the cash department of the Bangko Sentral ng Pilipinas and kept in the vault of the central bank.

“The money arrived at AMLC office at about 11 a.m. Immediately the money was counted with the assistance of the Cash Department of the BSP,” she said, adding the process of counting and verification was completed at around 1 p.m.

 “After the money was counted, we issued an acknowledgement receipt,” she added.

The AMLC executive director said Wong may return the money directly to the Bangladesh Bank.

“Yes, because this money belongs to the Bangladesh government. The AMLC and BSP’s participation is to facilitate the return of the money to the Bangladesh government. We are just safekeeping the money while the Bangladesh government is making the necessary arrangement for the transfer of the money to their country,” Abad said.

Also yesterday, the lawyers of Wong argued “we have no mandate” to turn over the amount directly to Bangladesh.

“Our client, Wong, has no business speaking directly with the Bangladeshis. Our clear understanding is that after turning over the funds to AMLC for safekeeping, its disposition should be subject to a government-to-government agreement,” Fernandez said.

Last Thursday, Wong returned $4.63 million of the P1 billion that ended up in his company, Eastern Hawaii.

At the resumption today of the Senate Blue Ribbon committee hearing on the issue, Wong is expected to make good his promise to reveal more information, committee chairman Teofisto Guingona III told ABS-CBN News Channel yesterday.

“He promised to present more evidence in (today’s) hearing,” Guingona said.

He said although Wong has returned $4.6 million of the $21 million he received out of the stolen funds, “he is not yet off the hook on the money laundering charges the Anti-Money Laundering Council has filed against him.” - Lawrence Agcaoli, Jess Diaz, Paolo Romero, Christina Mendez