Tag: Luzon Development Bank

Senate committee on banks to summon Comelec Chair Bautista over LDB accounts

Committee to ask Bautista to waive his right enshrined in Bank Secrecy Law (Eagle News) — The Senate committee on banks, financial institutions and currencies is set to summon Commission on Elections Chair Andres Bautista in its next hearing on the possible violations committed by Luzon Development Bank of the Anti-Money and Laundering law. Senator Francis Escudero, Senate committee chair, said this was so Bautista could shed light on the process he underwent to open […]

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Two senators seek Senate inquiry into Comelec chair’s accounts in thrift bank; possible AMLA violations to be looked into

(Eagle News) — Senators Vicente Sotto III and Panfilo Lacson  are seeking a Senate investigation into what they said was a possible violation by some “covered institutions” of the Anti Money and Laundering Act in connection with the supposed “splitting” of  Commission on Elections Chair Andres Bautista’s 35 bank accounts in one “small thrift bank.” Lacson and Sotto filed on Thursday Resolution No. 468 “directing” the Senate committee on banks, financial institutions and currencies to look […]

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