{"id":16187,"date":"2014-06-20T16:55:09","date_gmt":"2014-06-20T08:55:09","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=16187"},"modified":"2014-08-10T17:29:23","modified_gmt":"2014-08-10T09:29:23","slug":"court-questions-p40m-withdrawal-from-frozen-pork-account","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/06\/20\/court-questions-p40m-withdrawal-from-frozen-pork-account\/","title":{"rendered":"Court questions P40M withdrawal from frozen ‘pork’ account"},"content":{"rendered":"
\"ShutterStock<\/a>
ShutterStock image<\/figcaption><\/figure>\n

MANILA — The United Coconut Planters Bank was ordered on Wednesday to explain why P40 million was withdrawn from an account that the Court of Appeals had ordered frozen.<\/p>\n

The transaction\u00a0was brought to court’s attention after a lawyer revealed that P40 million has been subracted from the P46.995 million contained in an account under the name of First Integrated Bonding and Insurance Co.<\/p>\n

During the hearing on the civil forfeiture case, on Thursday, Lawyer Isar Pepito from the Office of the Solicitor General (OSG) said the UCPB confirmed that the transaction\u00a0was made.<\/p>\n

\u201cWe asked the UCPB for details, but they could not provide us. So the judge required them to file a motion to enlighten the court on this transaction,\u201d Pepito said.<\/p>\n

The UCPB insisted that there was nothing wrong with the P40 million transaction saying that it was made after the CA’s freeze order had already expired.<\/p>\n

Pepito, however, argued that any transaction made on frozen assets requires clearance from the Anti Money Laundering Council (AMLC).<\/p>\n

UCPB failed to cite the date the transaction was made, and it also failed to present any\u00a0certification \u00a0coming from the AMLC which\u00a0allows them to make the transaction.<\/p>\n

While proceedings are on going, the OSG filed a civil forfeiture case to allow the government to recover the money and assets involved in the pork barrel scam.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA — The United Coconut Planters Bank was ordered on Wednesday to explain why P40 million was withdrawn from an …<\/p>\n","protected":false},"author":44,"featured_media":15178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482,1145,95],"tags":[5695],"class_list":["post-16187","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","category-headline","category-news-ph","tag-court-questions-withdrawal-of-pork-money","mauthors-lei-fontamillas","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/16187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=16187"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/16187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/15178"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=16187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=16187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=16187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}