Aug 16, 2017 @ 10:18

The House of Representatives will look into allegations of cash laundering involving Commission on Elections Chair Andy Bautista and Luzon Development Bank owned by the Limcaoco household.

In an interview with ANC’s Karen Davila, Alvarez stated Bautista’s alleged P320 million deposits in 35 accounts with Luzon Bank deserved to be appeared into for doable cash laundering particularly after his spouse, Tish, claimed that Bautista had made deposits of P400,000 for 26 days straight in 2016.

“It looks like maliit na bangko, Luzon Development Bank, doon dinadaan ang pera. Sino naman magdedeposit doon?” requested Alvarez.

“Pwede natin tingnan yan pag inembistigahan, maglabasan lahat yan,” stated Alvarez.

One of Luzon Bank’s administrators is former Transportation Undersecretary Rene “Timmy” Okay. Limchaoco, an appointee of then Transportation Secretary Mar Roxas and an Ateneo High School classmate of Bautista.

Tish’s authorized adviser, lawyer Lorna Kapunan, claimed that Luzon Bank was “bankrupt.”

Source: politics.com.ph