According to official sources, Tan had no immediately traceable accounts in the Philippines but AMLC investigators were able to trace several accounts in his name to Hong Kong and "other jurisdictions."
Sources said the AMLC has already sought the help of Hong Kong authorities in freezing Tan’s accounts and similar actions were being considered for his accounts in other jurisdictions.
Tan has pending cases before the regional trial court of Mandaue City, Cebu and he was recently extradited to the Philippines to face trial.
He was charged for violating the Dangerous Drugs Act along with foreign nationals Joseph Yu, Hung Chin Chang, Siew Kin Weng, Liew Kam Song, Lin Li Ku, Bao Xianfu, Wu Tiao Yi, Tao Fei, and Liu Bo.
Two Filipino nationals, namely Allan Yap Garcia and Joseph Lopez, were named as Tan’s co-respondents.
The AMLC would not directly confirm reports but sources said the proceeds of Tan’s illegal drug activities were deposited in several accounts.
"Operators like that, especially the masterminds, normally do not hold accounts locally," they said. "They would open offshore accounts and put them in someone else’s name. Fortunately for us, these accounts are in Tan’s own name."
It was not known how much money was still left in Tan’s accounts but sources said they were likely to be frozen as soon as the authorization comes through.
Sources said Tan’s co-accused might have domestic bank accounts but so far, only Tan’s offshore accounts have been successfully traced.
"Tan probably thought we would not be able to trace his offshore accounts," one source said. "But the government has the capability to do this now. It is no longer as easy to hide as it was before."
Sources said the AMLC filed a request before the Department of Justice (DOJ) yesterday, seeking "legal assistance in criminal matters" related to the case.
The AMLC is the primary agency responsible for tracing laundered funds and prosecuting the perpetrators for money laundering. Sources said Tan will be prosecuted for his alleged drug-related activities but he would also face money-laundering charges.
Under the Anti-Money Laundering Act, funds generated by illegal activities, or so-called predicate crimes, could be investigated and seized by the government while the case is being prosecuted.
If there are claimants to the funds, the government is mandated to oversee the settlement of claims. In the case of drug-related activities, however, successful prosecution means the government can confiscate the funds.
The AMLC also has various memoranda of agreement and understanding with other jurisdictions, allowing it to cooperate with other financial intelligence units in the investigation and prosecution of transnational crimes such as drug trafficking, kidnapping, and terrorism.
Last April 28, Justice Secretary Raul Gonzalez said Hong Kong judge Allan Weith had granted the Philippine government’s petition to extradite Tan, who is allegedly operating a big shabu laboratory in Mandaue City. — With Jose Rodel Clapano