LIVE: Blue Ribbon inquiry into $81-million laundering

MANILA, Philippines — The Senate Blue Ribbon subcommittee on Tuesday is set to start its investigation into the alleged money laundering activities involving $81 million coursed through the Rizal Commercial Banking Corp.

The Senate panel summoned RCBC President Lorenzo Tan, RCBC Jupiter branch manager Maia Santos-Deguito, account holders William Go, Michael Francisco Cruz, Jessie Christopher Lagrosas, Alfred Santos Vergara, Enrico Vasquez and Kam Sin Wong (Kim Wong), to shed light to the alleged money laundering transaction.

De Guito allegedly facilitated the transfer of the $81 million that suspiciously went through the country’s financial system including local casinos, to five accounts in her branch.

Philippine National Bank president Reynaldo Maclang, BDO Unibank president Nestor Tan and East West Banking Corp. President Antonio Moncupa Jr. Bangko Sentral ng Pilipinas governor and Anti-Money Laundering Council Chairman Amado Tetangco, Jr. Securities and Exchange chairperson Teresita Herbosa, AMLC Secretariat Executive Director Julia Bacay-Abad, Philippine Amusement and Gaming Corp Chairman Cristino Naguiat, Jr. PRCBP President Lorenzo Tan, among others were also invited to participate at the hearing chaired by Sen. Teofisto “TG” Guingona III.

Watch the proceedings LIVE starting 1:30 p.m.: