Press Release
March 31, 2016


TWO DAYS after getting the assurance that a portion of the $81-million looted funds will be returned to Bangladesh, Senator Teofisto "TG" Guingona III on March 31, Thursday, confirms that the $4.63 million has been already handed over to the Bangladesh government, through the Bangko Sentral ng Pilipinas (BSP) and the Anti-Money Laundering Council (AMLC).

In the afternoon of March 31, the BSP has received, in cash, a part of the money brazenly stolen from the Central Bank of Bangladesh and shamelessly slipped into the cracks of the Philippine financial system.

"This is definitely a welcome progress. As the Chairman of the Blue Ribbon Committee, I am happy that in our three hearings, one of our objectives is steadily coming to fruition," Guingona announced.

According to Guingona, while Wong's testimony last Tuesday opened a Pandora's Box of new issues and confrontations, it also resulted in a positive note that will benefit the people of both Bangladesh and the Philippines. The $4.63-million cash is currently in BSP for safekeeping.

"Una pa lang ito sa mga magagawa ng mga hearing natin sa Blue Ribbon, malinaw na marami pang kayang mabawi, marami pang magagawa para maibalik ang pera ng Bangladesh at maibalik ang tiwala ng international financial community sa Pilipinas," Guingona stated.

Aside from turning over the $4.63 million, casino junket operator Kam Sin Wong, a.k.a "Kim Wong," also declared that he is willing to return the P450 million received by his company, Eastern Hawaii Leisure. Another P107 million in the frozen Solaire account of a certain Ding Zhize, the missing $17 million that Wong alleged is still with PhilRem, the P40 million still lodged in Midas, and PhilRem's restitution offer that the Bangladesh government has rejected constitute the amounts that may still be returned to the Bangladeshis.

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