Bangladeshi ambassador raises concerns over delay in turnover of recovered funds

Bangladeshi Ambassador John Gomes on Thursday raised concerns that the turnover of the recovered $15 million may take too long, as he is already facing pressure from his home country.

“I don’t want something for which we signed, something committed to us, will be delayed,” Gomez told the Senate blue ribbon committee, noting that he has already signed an acknowledgement receipt for the amount turned over by casino junket operator Kam Sin “Kim” Wong in several tranches.

To recall, Wong returned P250 million to the anti-money laundering council (AMLC) on May 4, $4.6 million (equivalent to P214.360 million at P46.430:$1) on March 31, and P38.280 million on April 4. 

His company Eastern Hawaii also returned P200 million on April 19. 

The funds, however, are still stored in the vaults of the Bangko Sentral ng Pilipinas (BSP) pending proper turnover to Bangladesh. The amount is currently being processed under a civil forfeiture order of the Anti-money Laundering Council (AMLC).

Once finalized and the money is forfeited, the Philippine government can then make steps to turn it over to the country.

“We have been told from the very beginning that this money will be transferred to Bangladesh through forfeiture cases...It is my request (that) whatever commitment we had, papers we signed, Mister Wong said, this must be followed through,” Gomes said.

“If it is four to five months, I think it is too long. If you are talking another three months, I think it is very very long... What is the value of signing this paper and making us receive the money?” he added. — RSJ, GMA News