Senate panel to probe allegations vs. Comelec chief Bautista next week

The Senate committee on banks is set to conduct a hearing next week on the allegations of ill-gotten wealth against Commission on Elections (Comelec) chairman Andres Bautista.

Senator Francis “Chiz” Escudero, the panel's chairman, confirmed this after Majority Leader Vicente Sotto III and Senator Panfilo Lacson filed a resolution for the Senate panel to look into the “possible violation” of the Anti-Money Laundering Act (AMLA) by the Luzon Development Bank (LDB).

Bautista's estranged wife, Patricia Paz Bautista, earlier alleged that the Comelec chief owns more than 30 bank accounts containing a total balance of P329 million. Based on his 2016 statement of assets, liabilities, and net worth (SALN), Bautista only has a net worth of P176.3 million.

Senate Resolution No. 468 states that Bautista, under the AMLA, is considered a “politically exposed person” for holding a prominent public position.

It also cited a Bangko Sentral ng Pilipinas circular which states that covered institutions “shall specify criteria and description of the types of customers that are likely to pose low, normal or high money laundering/terrorist financing risk to their operations as well as the standards in applying reduced, average and enhanced due diligence.”

“In the case of LDB and the bank accounts of the Comelec chair, the compliance with the required due diligence must be studied and investigated,” the senators said.

“The splitting of accounts of the Comelec chair in one small thrift bank so as not to be under the radar of the Anti-Money Laundering Council, likewise, needs to be further looked into,” they added.

According to Escudero, officials from the LDB, Anti-Money Laundering Council, BSP, and the National Bureau of Investigation will be summoned to attend the probe.

Asked if Bautista will be invited, Esudero said: “In the meantime, the committee hearing will simply be open to Chairman Bautista’s participation should he voluntarily want to, given his public pronouncements that he welcomes any probe to air his side and clear his name.”

Bautista has repeatedly denied the allegations of his estranged wife, claiming that there is an “orchestrated campaign” against him.

Sotto earlier filed a resolution asking the blue ribbon committee chaired by Senator Richard Gordon to investigate Mrs. Bautista’s allegations.

Asked what happened to the resolution that he filed, Sotto, in a text message, said: “Busy yata siya (Sen. Gordon).” —LBG/KVD, GMA News