During the impeachment trial of Philippine Vice President Sara Duterte, a financial expert highlighted unusual banking activities involving her and her husband, suggesting possible signs of money laundering.
In the ongoing impeachment trial of Vice President Sara Duterte in the Philippines, certified public accountant and lawyer Alexander Cabrera testified about financial records linked to Duterte and her husband, Manases Carpio, revealing patterns that may indicate money laundering activities. Cabrera analyzed bank transactions, tax records, and corporate documents, citing significant movements of substantial sums via manager’s checks within joint accounts involving the Vice President and her father, former President Rodrigo Duterte.
He detailed instances such as the issuance of P41 million and P55 million unused manager’s checks, with withdrawals and payouts occurring on the same days, including a P41 million over-the-counter cash withdrawal by Carpio. Cabrera noted that these rapid in-and-out fund movements do not add value to any company, a hallmark of possible fraudulent reporting. Additionally, he pointed out that converting time deposit funds into manager’s checks led to loss of interest, an economically disadvantageous move typically unnecessary absent concealment intentions.
While Cabrera did not assert definitive proof of money laundering, he emphasized these were symptomatic indicators, highlighting the suspicious nature of the transactions, including the preference for large cash withdrawals that obscure audit trails. The Anti-Money Laundering Council’s testimony supported the cash withdrawal details, emphasizing typical behaviors seen in concealment efforts.
Sara Duterte’s spokesperson declined immediate comment. The trial continues to examine financial activities reportedly connected to the Vice President and her family. This development underscores ongoing scrutiny of political figures’ financial dealings in the Philippines, contextualized within broader concerns about transparency and accountability in public office.
Sources referenced:
- https://www.gmanetwork.com/news/topstories/nation/1005639/witness-sara-duterte-husband-s-financial-records-show-symptoms-of-money-laundering/story/