UCPB: P39-M withdrawal from "Napoles account" cleared by AMLC 

United Coconut Planters Bank (UCPB) on Thursday said the P39.7-million withdrawal by a company linked to alleged pork barrel scam mastermind Janet Lim-Napoles was done after having the transaction cleared by the proper authority.

 

The bank was able to get the go signal from the Anti-Money Laundering Council (AMLC) before the transactions were made on the account of First Integrated Bonding and Insurance Company (FIBICO), the bank said in an e-mailed statement.

 

"First, the bank wants to clarify that the transactions were made after UCPB received clearance from the Anti-Money Laundering Council (AMLC)," the statement read.

 

"And second, the transactions involved the application of P39.7 million as payment for FIBICO’s back-to-back loans with UCPB," it added.

 

The clearance was issued by AMLC in a May 7, 2014 letter in response to UCPB’s April 7, 2014 letter seeking guidance on accounts covered by the freeze order but not covered by the first Provisional Asset Preservation Order (PAPO) and Asset Preservation Order (APO).

 

In the clearance, ALMC said “save for the accounts covered by the PAPO and APO issued in the forfeiture case, the effects of the freeze order can now be lifted with respect to the frozen accounts.”

 

FIBICO was neither covered by the said PAPO nor APO, the bank claimed.

 

"It was only on June 6, when upon application by the AMLC, the Manila Regional Trial Court included First Integrated Bonding and Insurance Company in a second PAPO," the bank said.

 

In a report aired on GMA News' “24 Oras” Wednesday, FIBICO's withdrawal was supposedly discovered during the hearing at the Manila Regional Trial Court Branch 22 over the government's forfeiture case against Napoles' assets.

 

According to the report, the UCPB was able to get formal confirmation from AMLC that the freeze order has already lapsed.

 

UCPB said it will be filing its manifestation to show the legal and factual basis for its actions as required by the court. – Danessa O. Rivera/VS, GMA News