Press Release
March 28, 2016

Trillanes: Investigate PSE director for money laundering

On the heels of the on-going Senate Blue Ribbon Committee investigation on the alleged US$ 81 Million money laundering fiasco involving officers of the Rizal Commercial Banking Corporation (RCBC), Sen. Antonio F. Trillanes IV reiterated his call addressed to the Philippine Stock Exchange (PSE), the Securities and Exchange Commission (SEC), and the Anti-Money Laundering Council (AMLC) to seriously look into the allegations that a PSE director is also being used to launder money.

Trillanes recently wrote to AMLC, SEC, PSE, and the Bureau of Internal Revenue (BIR), to request them to investigate and determine if the respondents in the so called "University of Makati - College of Nursing Scam", particularly, erstwhile Makati City Mayor and now Vice President Jejomar Binay, former Makati City Mayor Jejomar Erwin Binay, University of Makati President Tomas Lopez, and certain private individuals, including officials of STI Holdings, Inc. (STI), led by STI Chairman and PSE Director Eusebio "Yosi" Tanco, STI President Monico Jacob, Annabelle Borromeo and Dr. Jack Arroyo, Jr., a nephew of Senator Joker Arroyo, violated the laws being administered by said institutions.

The subject public and private respondents were charged last September 2015 by Atty. Renato L. Bondal before the Office of the Ombudsman with the crime of plunder, malversation of public funds, graft and corruption and violation of the Government Procurement Reform Act for allegedly diverting public funds intended for the University of Makati in the aggregate amount of Five Hundred Forty Seven Million Four Hundred Twenty Thousand and Four Hundred Ninety-Nine Pesos (PhP 547,420,499.00) to Philippine Healthcare Educators, Inc. (PHEI), a private company allegedly owned by the aforesaid public and private individuals.

So far, only BIR Commissioner Kim S. Jacinto-Henares has gone on record to say that they are going to act on Trillanes' letter and pursue a formal investigation.

"I am willing to give AMLC the benefit of the doubt considering that their work requires utmost confidentiality. However, the PSE and the SEC seem to be deafeningly silent on this important matter, which directly involves PSE Director Yosi Tanco," Trillanes said.

"If I am not satisfied with the action of the SEC and the PSE in this regard, I will not hesitate to call for a Senate inquiry so this matter can be closely examined and investigated fully for us to be able to enact remedial legislation to protect the interest of the investing public," Trillanes said.

Trillanes is the principal proponent of the year-long investigation into the Makati City Hall Parking Building II and related scandals, which have hounded Vice President Jejomar C. Binay and his family these past two (2) years.

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