Trader tagged in tax credit scam submits counter affidavit to Ombudsman
In his counter affidavit filed recently with the Ombudsman, Crispulo Pangilinan, president of Royale Fishing Corp., attached photocopies of various checks worth a total of P14,387,891.44.
The checks were drawn from Royale’s bank accounts and issued to Faustino. Pangilinan’s counter affidavit stated that the checks were received by employees of Faustino.
The Chingkoe group of companies was at the center of the tax credit scam in the 1990s which allegedly defrauded the government of more than P2.4 billion through the illegal use of tax credits.
The group is believed to be the single biggest company involved in the tax scam which was discovered during an investigation by Task Force 156, a government anti-corruption unit created in 1999.
The task force found out that a total of 593 tax credit certificates involving an aggregate amount of P2.4 billion had been fraudulently issued to the Chingkoe group of companies.
Petron Corp. and Pilipinas Shell Petroleum Corp. were only two of several companies that used the tax credits of the Chingkoe group. These certificates were cancelled by the Department of Finance after these were found to be fake.
In his counter affidavit, Pangilinan denied the charges against him and his company.
“I am totally ignorant of the circumstances leading to the issuance of said certificates. If ever, I myself, am a victim having been made unaware of the alleged irregularity,” Pangilinan said.
His company issued the checks to companies owned by Faustino on different dates in 1998.
The Chingkoes are currently free on bail and have been able to travel in and out of the country as the cases filed against them continuously grinds.
State prosecutors are worried that the Chingkoes have been able to launder their assets to Canada and that there would be nothing to collect from the couple even if the government wins the case.
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