| source : MANews.TV | |||
| Thursday, 21 August 2008 13:56 | |||
 MANILA, Philippines - The Court of Appeals has extended the freeze order on 32 of the 70 bank accounts listed under the name of former agriculture undersecretary Jocelyn "Joc-Joc" Bolante and some other individuals and entities allegedly linked to the P728-million fertilizer fund scam.In a 30-page resolution penned by CA Associate Justice Pampio Abarintos, the CA's Former First Division granted the petition of the Anti-Money Laundering Council (AMLC) to extend the freeze order, which lapsed last August 20, so that it can continue with its investigation. The extension gives the council four months, or until December 20, to locate the missing P728 million fertilizer fund. The appellate court had earlier removed from the coverage of the freeze order more than 30 other accounts in various banks and institutions after it was learned that these accounts have already been “canceled, written off, closed or expired.” The extended freeze order now covers accounts and insurance policies at Banco de Oro Universal Bank, Citbank, N.A., East-West Bank, Maybank Phils. Inc, Metropolitan Bank and Trust Co., Philippine National Bank, Insular Life Assce. Company, Pru Life Insurance Corp. of UK, Manufacturers Life Ins. Co., BPI/MS Insurance Corp., Performance Foreign Exchange Corp., Prudential Bank, Bank of the Philippine Islands, Union Bank of the Philippines, Rizal Commercial Banking Corporation and Standard Chartered Bank. The CA issued last July 1 a 20-day freeze order on 70 accounts under the name of Bolante and several other individuals and entities believed to be involved in the fertilizer scam after finding probable cause that unlawful activities have been committed by the respondents to funnel the funds intended for farmers. The freeze order was later extended up to August 19, 2008. Aside from Bolante, the AMLC identified the other holders of these various accounts as Molugan Foundation, Alliance for the Conservation of the Environment of Pangasinan, Inc., Sta. Lucia Education Association of Bulacan, Inc., Livelihood Corporation (Livecor), Ariel C. Panganiban, spouses Samuel and Katherine Samuel Bombeo. Bolante, believed to be the architect of the fund scam, left the country at the height of the Senate’s investigation into the fund scam but was arrested and detained in Los Angeles on July 7, 2006 after airport authorities found him in possession of a revoked US visa. His visa was revoked after he was tagged by the Senate as the mastermind of the scam. A petition for political asylum which he filed in the US has recently been denied by the immigration court for lack of merit. - GMANews.TV
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