A Senate investigation looms over the doable violation of the money-laundering act by Commission on Elections Chairman Andres Bautista.
The probe by the Senate banks committee stemmed from a resolution signed by Senate majority chief Vicente Sotto III and Sen. Panfilo Lacson.
In their resolution, Sotto and Lacson cited stories that Bautista had 35 separate accounts with Luzon Development Bank, together with 30 in Taguig City and 5 in Makati City, totaling P329 million.
“The splitting of accounts of the Comelec Chair in one small thrift bank so as not to be under the radar of the Anti-Money Laundering Council likewise needs to be further looked into,” they stated.
They added the LDB is a lined establishment below the AMLA, whereas Bautista is a “politically exposed person” entrusted with distinguished public place “with substantial authority over policy, operations or the use or allocation of government-owned resources.”
In the case of LDB and Bautista’s financial institution accounts, they stated the compliance with the required due diligence “must be studied and investigated.”
Senate banks committee chairman Francis Escudero stated Thursday he has scheduled a listening to on the matter subsequent week.