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Regulators have frozen the bank accounts of people with
established links to the Philippine operations of
Performance Investment Products Corp. (PIPC) and related
companies in the
British Virgin Islands,
Hong Kong and Japan.
The
Anti-Money Laundering Council has frozen the bank
accounts of whistle blower Cristina Gonzales-Tuason,
PIPC incorporators Ernest Sy and Janice P. Silvestre and
that of PIPC chairman and president Michael H.K. Liew,
who absconded with the money.
The
value of the frozen accounts was not revealed, but the
different accounts in 15 banks and financial
institutions operating in the country were cited.
These
included accounts opened in Asia United Bank, the Bank
of the Philippine Islands, Equitable PCI Bank, which has
been folded into Banco de Oro (BDO) Universal Bank, the
International Exchange Bank, the Metropolitan Bank and
Trust Co., Rizal Commercial Banking Corp., Union Bank of
the Philippines and the United Coconut Planters Bank.
Also covered by the freeze order were accounts opened
with HSBC Savings Bank, Citibank NA, Banco de Oro
Private Bank, Pru Life Insurance Corp. of the United
Kingdom and BDO.
Of the
estimated $138 million allegedly hoodwinked from up to
3,000 moneyed Filipino investors, only some $2 million
remained intact, according to earlier reports. |
