Opposition Sen. Panfilo Lacson, a presidential hopeful, accused First Gentleman Jose Miguel Arroyo yesterday of laundering more than P100 million, using the name Jose Pidal, through dummy bank accounts.
In a privileged speech complete with a visual presentation, Lacson said Mr. Arroyo is keeping a bank account using the assumed name of Jose Pidal in the Union Bank branch on Perea street in Legaspi Village, Makati City, not far from the Arroyos’ LTA building where President Arroyo’s husband holds office.
Lacson said Pidal’s address is 8th Floor, LTA building, the same business address of Mr. Arroyo, whom Lacson referred to as "The Incredible Hulk."
He said a close examination of the signatures of Mr. Arroyo and Pidal showed they were similar.
Both Pidal and the President’s husband have the same foreign financial adviser, Morgan Stanley of San Francisco, California, where the Arroyos have properties, Lacson added.
Lacson’s revelation is reminiscent of the Jose Velarde account that prosecutors claim belongs to ousted President Joseph Estrada.
Besides the Pidal account, Lacson claimed that Mr. Arroyo is using his personal secretary, Victory "Vicky" Toh, her brother Thomas and brother-in-law Kelvin Tan as well as the Arroyos’ Lualhati Foundation as "washing machines" to launder illegal funds.
As of July 30, 2003, Lacson said, the balances of the accounts in the same Union Bank branch where Mr. Arroyo is allegedly keeping his Pidal deposits were P19.3 million for Vicky Toh, P48.2 million for Lualhati Foundation, P21.1 million for Kelvin Tan, and P7.5 million for Thomas Toh.
He said at one time, the Arroyo personal secretary’s account held as much as P53 million.
He added that besides Thomas Toh’s account in Union Bank, he maintains another account in nearby International Exchange Bank (Perea branch) that had a balance of P20.1 million in July 2002.
Lacson pointed out that the Tohs are not a wealthy family and their father is running a small hardware along Kalentong street in Mandaluyong City.
He said the Arroyos’ excess funds in the 2001 election campaign, which he claimed amounted to P277 million, were also "parked" in Lualhati Foundation and secret bank accounts.
"Mr. Jose Pidal aka Mr. Jose Miguel Arroyo better get a copy of the Anti-Money Laundering Act or, better still, get his lawyers now," he said.
As for Mr. Arroyo’s alleged "washing machines," he said "I only hope they declared all those millions in their income tax returns, otherwise, they can always hire ‘The Firm’ of Mr. Jose Miguel Arroyo."
Lacson hinted that the President knows about the alleged secret accounts and corrupt acts of her husband.
"They are partners in everything. It’s one of the most profitable partnerships ever," he said.
He said the laundered amount he exposed is just the tip of the iceberg and a sequel would be forthcoming.
"There are more bank accounts abroad and large tracts of land and real estate properties purchased here and abroad by The Incredible Hulk, Chapter 2 of our story will be more interesting," he stressed.
He described the LTA building as the second most powerful office in the land after Malacañang.
He said it is this building where shady deals are made and fortunes are amassed, and where demolition jobs against enemies of the Arroyo administration are hatched.
He said high government officials, including at least two Supreme Court justices, and media personalities report regularly to the President’s husband in his LTA office.
The opposition presidential hopeful stressed that the issues he raised "are the very issues our people have bewailed about our government."
"There are about the unabated corruption in the highest levels of government, not simply in the lower bureaucracy, nor in the military establishment but right in the heart of Malacañang, or at least in its extension office — the LTA Building," he said.
After hearing the documented speech of their colleague, senators voted to inquire into Mr. Arroyo’s alleged money laundering and other illegal activities.
Lacson said he is ready to present documents and witnesses in the projected inquiry.