AMLC: suspects took P25M from UP revolving funds

First Posted 05:37:00 11/22/2010

http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20101122-304605/4-face-money-laundering-charges

MANILA, Philippines—The Anti-Money Laundering Council (AMLC) has filed charges against two employees of the Philippine National Bank (PNB) at the University of the Philippines-Diliman branch and two depositors for allegedly pocketing P25.18 million from the premier state university’s revolving fund account.

Accused before the Department of Justice (DoJ) for violating Republic Act No. 9160 or the Anti-Money Laundering Act of 2001 were Rosemarie Ann Pamplona, former junior sales and service officer of the PNB-UP campus branch; Evangeline Domingo, former senior sales and service associate; and depositors Jamie Santos and Ely Zanda Clemente.

The four are all at large. The UP has so far been unable to recover the money.

Based on its investigation, the AMLC said the UP’s revolving fund account was pre-terminated by Pamplona and Domingo without the university’s authority and knowledge on Jan. 4, 2007.

The council said the proceeds of the account were then deposited in three “suspicious” accounts under the names of Clemente (Account No. 612750007298002, P9,148,980.94); Santos (Account No. 275-8123084, P8 million); and UP Cons (a joint account of Clemente and Santos, P8 million).

It eventually discovered that UP Cons was a non-existent business entity and other details pertaining to the account were fictitious.

The four, “acting in conspiracy with each other,” were also liable for qualified theft under Section 310 of the Revised Penal Code for benefiting from the transfer of the accounts, it said.

“The respondents had full knowledge of the illegal nature of the proceeds that they transacted. (A)ll the elements of money laundering are present,” the AMLC said.

The council earlier filed a petition for a freeze order on the accounts before the Court of Appeals, which granted it on Nov. 18, 2008.

Earlier, the Manila Regional Trial Court granted an AMLC petition seeking to conduct an inquiry into the bank accounts.

On Jan. 16, 2008, the DoJ, through the Office of the Quezon City Prosecutor found probable cause to indict the four suspects for qualified theft.

The case originated from a complaint filed by Malou Francisco, assistant manager and regional review officer of the PNB.

Armed with the DoJ resolution, AMLC took nine months just to get the freeze order on the accounts of the suspects, and well over two years to file the case before the department.