House believes drug syndicates use POGOs for money laundering
Credit to Author: Delon Porcalla| Date: Tue, 6 Aug 2024 00:00:00 +0800
MANILA, Philippines — The House of Representatives believes that drug syndicates in the country use illegal Philippine offshore gaming operators (POGOs) to launder dirty money, as proven by a series of investigations among several committees.
“It seems that the drug lords launder their money through POGOs. There could be a direct link between POGOs and drug syndicates,” Rep. Robert Ace Barbers, chairman of the House committee on dangerous drugs, told reporters at a news briefing in Pampanga.
“Why did I say that? Because there are registered corporations whose incorporators are the same incorporators of the owner of the warehouse where P3.6 billion worth of drugs were seized in 2023,” he pointed out.
According to Barbers, this simply means that Empire 99 that owns the prohibited drugs in Mexico, Pampanga have similar “associates” with those in POGOs, where they have the “same set of incorporators.”
“So, their interlocking incorporators is our link that they may be involved in illegal POGO operations, and this goes directly to businessman Michael Yang, whose brother remits money to the POGO in Bamban, Tarlac,” he explained further.
Fernandez presented a detailed matrix linking several Chinese nationals, including Yang, to both alleged illegal POGO activities and drug operations.
He revealed that Yang’s brother, Hong Jiang Yang, is an “incorporator” of Paili State Group Corporation, along with Rose Nono Lin and “Hong Ming Yang,” believed to be the Chinese name of Michael Yang.
Fernandez then drew attention to the findings of the Anti-Money Laundering Council involving suspended Bamban, Tarlac Mayor Alice Guo.
Fernandez further explained that links between Yang’s brother was established after having transactions with Guo totaling about P3.3 billion.
The origin and destination of all these funds still “remain unclear” to this day.
“Come to think of it, Mayor Guo’s transactions alone reached P29 billion in her 36 accounts. So, how much more the other bank accounts of these other personalities?” Fernandez asked, emphasizing the scale of the billions of pesos in financial transactions among suspected drug traffickers.
Barbers, along with chairman of the House committee on public order and safety Sta. Rosa Rep. Dan Fernandez, Senior Deputy Speaker Aurelio Gonzales and several others, joined Speaker Martin Romualdez yesterday in inspecting raided POGO hubs in Tarlac and Pampanga.
Romualdez said they will help the Philippine Amusement and Gaming Corp. shut down POGOs with whatever legislation may be required. — Cecille Suerte Felipe