Appeals court issues freeze-order on bank accounts of ex-Citibank officerBy Tetch Torres
MANILA, Philippines—The Court of Appeals issued a freeze-order on the bank accounts of a former officer of Citibank branch in Binondo, Manila, for allegedly embezzling more than P100 million of his client’s money.
In a resolution promulgated March 27, 2012, the appeals court’s 5th Division issued a 20-day freeze order on the accounts and vehicles of Francis Bryan Ang, former assistant vice-president of Citibank’s Citigold Wealth Management Group.
“In order to avoid the possibility that the funds in the subject bank accounts will be withdrawn and placed beyond the reach of law enforcers, a freeze-order effective for a period of twenty (20) days from notice, is hereby issued covering the accounts except those maintained in Fubon Bank (Hong Kong Ltd), Tsim Sha Tsui, Hong Kong,” the appeals court through Associate Justice Ramon Garcia said.
Covered by the freeze-order are Ang’s bank accounts in Citibank, Banco de Oro, Unibank, Citicorp Financial Services & Insurance Brokerage, East West Bank, HSBC, Rizal Commercial Banking Corp., Metrobank, Bank of the Philippine Islands, Allied Bank, Union Bank, Philippine. National Bank, Sterling Bank of Asia and Union Bank.
The appeals court also issued a freeze-order on four vehicles of Ang.
The appeals court ordered the banks and the Land Transportation Office to give them and the Anti-Money Laundering Council compliance report within 24 hours upon receipt of the resolution.
Associate Justices Amelita Tolentino and Samuel Gaerlan concurred in the decision.