This will just intensify people’s disdain for government probes.
“During the Senate Blue Ribbon committee probe on the alleged scheme to launder US$81 million from the Central Bank of Bangladesh, Senators TG Guingona and Serge Osmeña got exasperated when Rizal Commercial Banking Corp. (RCBC) officials repeatedly invoked their right against self-incrimination and the law that prohibits disclosure of or inquiry into deposits with any banking institution or Republic Act No. 1405,” reports Virgil Lopez on GMA News Online.
The report noted that RCBC Jupiter Street branch Manager Maia Santos-Deguito (through her lawyer Ferdinand Topacio) and RCBC President Lorenzo Tan (through RCBC’s lawyer Laurinda Rogero) both expressed their desire for an executive session.
Topacio said his client should be allowed “to discuss the controversy behind closed doors as she is now facing criminal complaints before the Department of Justice in relation to the issue.”
READ: Makati bank manager tags RCBC president’s ‘friend’ in money laundering scandal
Ciitng the bank secrecy law, Tan had likewise declined to explain why millions of dollars were withdrawn from the bank even after the Federal Bank of New York sent a stop-payment request in Feb.
Guingona initially rejected the requests, arguing that “the subject funds belong to the Bangladesh government, which did not invoke confidentiality.” However, what could he do but change his mind?
As such, Deguito’s — and most likely Tan’s, as well — testimony will be heard exclusively by senators on the next hearing on Thu, Mar 17.
