{"id":49546,"date":"2015-05-15T14:52:13","date_gmt":"2015-05-15T06:52:13","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=49546"},"modified":"2015-05-15T14:52:13","modified_gmt":"2015-05-15T06:52:13","slug":"amlc-binays-withdrawals-and-deposits-done-almost-at-same-time","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/05\/15\/amlc-binays-withdrawals-and-deposits-done-almost-at-same-time\/","title":{"rendered":"AMLC: Binay\u2019s withdrawals and deposits done almost at same time"},"content":{"rendered":"
\"Vice<\/a>
Vice President Jejomar Binay (Facebook photo)<\/figcaption><\/figure>\n

MANILA \u2013 The Anti-Money Laundering Council (AMLC) petitioned to the Court of Appeals (CA) to freeze 242 accounts in banks, insurances and securities companies of Vice President Binay, as well as the accounts of his son Makati City Mayor Junjun Binay, wife Dra. Elenita Binay, and his alleged \u2018dummies.\u2019<\/p>\n

The petition was in connection with the AMLC\u2019s finding that Vice President Binay\u2019s accounts may have been used as conduits of funds as his withdrawals and deposits were done almost at the same time.<\/p>\n

\u201cThe amount transacted through Vice President Jejomar Binay\u2019s accounts originated from illicit and\/or undeclared activities. Moreover because of the near equivalence of deposits and withdrawals his bank accounts were used as mere conduits of funds derived from such activities,\u201d the AMLC concluded.<\/p>\n

The CA then issued a freeze order for six months on Binay\u2019s accounts.<\/p>\n

Vice President Binay\u2019s withdrawals amounted to P266 million while his deposits totaled to P253 million, from the period of 2009 to 2013. These were transacted in several banks.<\/p>\n

The AMLC pointed out that Binay\u2019s accounts were seemingly used as \u2018conduits\u2019 as the amounts of withdrawals and deposits, which were done almost simultaneously, were identical.<\/p>\n

\u201cThere is a wide gap between his legitimate income and his total bank accounts,\u201d the AMLC added, questioning what Binay\u2019s other source of income was when he was not into any businesses.<\/p>\n

Furthermore, Vice President Binay\u2019s statement of assets, liabilities and net worth (SALN) as Makati City Mayor reached only P937,000 in 2009 and P541,000 in 2010. His salaries from 2007 to 2014 was also only P13 million.<\/p>\n

Aside from having several accounts in the Philippines, Vice President Binay also has two bank accounts in Canada, which he used to remit money abroad. In both accounts, Binay\u2019s withdrawals and deposits reached P29 million, yet again identical. These accounts were purportedly also used as \u2018conduits.\u2019<\/p>\n

According to whistle-blower and former Makati City Vice Mayor Ernesto Mercado, Vice President Binay\u2019s financial adviser Gerry Limlingan and aide Eduviges Baloloy got the largest share in Binay\u2019s 242 accounts ordered frozen.<\/p>\n

Mercado also revealed that of Binay\u2019s 242 accounts, 110 were controlled by Limlingan and 44 were controlled by Baloloy.<\/p>\n

\u201cI\u2019m very happy with the AMLC report because it confirmed all of the things that I told the Senate. At least we now know who has been lying,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA \u2013 The Anti-Money Laundering Council (AMLC) petitioned to the Court of Appeals (CA) to freeze 242 accounts in banks, …<\/p>\n","protected":false},"author":33,"featured_media":24487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482,1145,95,483,4377],"tags":[],"class_list":["post-49546","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","category-headline","category-news-ph","category-politics","category-public-probe","mauthors-jane-moraleda","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/49546","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\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=49546"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/49546\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/24487"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=49546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=49546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=49546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}