Deguito lawyer alleges AMLC, RCBC ‘cover-up’

THE LEGAL counsel for Rizal Commercial Banking Corp. branch manager Maia Santos-Deguito has accused the Anti-Money Laundering Council (AMLC) of being negligent or even part of “cover-up” when it singled out the RCBC Jupiter branch manager in money laundering charges.

It’s because of this money laundering case filed by the AMLC before the Department of Justice that has prevented Deguito from spilling the beans, lawyer Ferdinand Topacio said in a press statement on Thursday.

The case was filed on Friday, the day Deguito was barred from leaving the Philippines to go to an alleged vacation trip to Japan.

“There is a conspiracy here that boggles the mind involving extremely wealthy, powerful and well-connected individuals, but we are confident that the Senate will no spare anyone, no matter his or her status and stature in the banking community and in Philippine society, so that the incident under investigation will not be repeated,” Topacio said in a press statement on Thursday.

Four other individuals charged by AMLC for alleged violation of the anti-money laundering law were RCBC bank account holders who authorities said may just be using aliases. Bank accounts under the name of Michael Francisco Cruz, Jessie Christopher Lagrosas, Alfred Santos Vergara, Enrico Teodoro Vasquez received the $81 million dirty money wired from the bank account of Bank of Bangladesh with the Federal Reserve Bank of New York last Feb. 5. The money was consolidated under the bank account under the name of businessman William Go – who vehemently denied ownership of the account and accused Deguito of setting this up and being part of the scheme – moved out to other banks and found its way to local casinos and other entities.

The lawyer, however, alleged that RCBC head office was trying to cover up for “certain” bank officials. But Francis Lim, the legal counsel for RCBC president Lorenzo Tan claimed on Thursday that it was Deguito who was “covering up what she done as branch manager for which she could go to jail for up to 14 years, muddling the issue and calling everybody, except her, a liar including Mr. William Go and Mr. Lorenzo Tan.”

“Our client invoked her right to remain silent and against self-incrimination during the last Senate hearing — although we were ready to tell all at that time – because the Anti-Money Laundering Counsel (AMLC) filed a case against her the previous day. We view as suspicious the timing, and the fact that aside from our client and alleged fictitious persons, AMLC did not file a case against other bank officers notwithstanding evidence of their possible complicity in money-laundering. AMLC either did not do its homework, or is trying to protect certain persons by engaging in selective prosecution,” Topacio said.

Topacio said Deguito had requested for an executive session because in the public session – with media and AMLC representatives present, among others – there may be statements made under oath that may be used against her in the pending criminal case.

“Since the penalty she faces is seven to fourteen years imprisonment, the Constitutional safeguards in her favor must be invoked to protect her rights, including the right to be presumed innocent. Therefore, we shall request the Senate Blue Ribbon Committee to exclude the AMLC representatives, since they are the accusers of our client,” Topacio said.

Topacio accused RCBC of trying to cover up for certain bank officials, alleging that the internal investigator had come from ACCRA Law Office, and the lawyers of Lorenzo Tan were also from ACCRA Law.

“We cannot thus be assured of an impartial inquiry within RCBC. Likewise, it was only Ms. Deguito who was suspended, although there are allegations against Mr. Tan, who remains bank president and hence in a position to delete emails, shred documents and influence or intimidate lower-ranking bank officials who may know matters regarding the alleged money-laundering transaction,” Topacio said.

The lawyer called on RCBC president Lorenzo Tan to immediately resign, citing the need to “emulate the sense of delicadeza of the president of the Bank of Bangladesh” and protect the reputation of the Philippine banking system. He claimed that the latter was “already under a very dark cloud of doubt.”

“For whatever it may be worth, we apologize to the people of Bangladesh for whatever harm this incident may have caused them,” Topacio said.

In questioning the integrity of RCBC’s internal probe, Topacio was referring to Francis Lim of Angara Abello Concepcion Regala & Cruz Law Offices (ACCRA) and Maria Cecilia Fernandez-Estavillo, head of legal and regulatory affairs at RCBC.

Based on a March 14 timeline submitted by RCBC to the AMLC, Deguito had expected the big inflow and facilitated the speedy withdrawal, apparently with some help from co-workers within the Jupiter branch of RCBC.

But Lim had said the board committee investigating the matter was composed of members representing the major stockholders.  The committee is being assisted by SGV auditors and external lawyers from another law firm,  the Poblador Bautista Reyes – not ACCRA, Lim said.

Last Friday, Lim said the RCBC president had offered to go on leave to give the bank a “free hand” in investigating the alleged money laundering issue involving its Jupiter branch in Makati and its branch manager. “The bank’s board thanked him for his gentlemanly and decent gesture but said their trust in him is intact and unshaken,” Lim said.

“Ms. Maia Deguito has been saying she will tell all in an executive session. When the Senate blue ribbon committee offered to hold one last Tuesday, she begged off. Why?” Lim said.

“We know she has been lying all along, covering up what she done as branch manager for which she could go to jail for up to 14 years, muddling the issue and calling everybody, except her, a liar including Mr William Go and Mr Lorenzo Tan,” he said.

Lim said the Senate hearing (today) would unmask Ms Deguito and prove that she had been lying. “We will proceed as may be warranted by the facts,” he said.