The House committee on ways and means is set to look into the $1.02 billion in cash allegedly brought in by Chinese nationals in an alleged money laundering scheme.
Committee panel chairman Albay Rep. Joey Salceda called on a closed-door session on Tuesday (March 3) to discuss the issue.
Salceda approved the motion of Nueva Ecija Rep. Estrellita Suansing to conduct an investigation on the $160.58 million in cash allegedly brought into the country by Chinese citizens from December 2019 to February 2020.
However, Salceda said there is $840 million that entered the country through Customs.
“The $160 million that was reported is just a tip of the iceberg. Based on our reports, I have seen that on top of $160 million, there was $840 million that entered last year through Customs through the airports,” he said.
“There is an obvious and apparent use of the power of the Customs covering portable commodities and declaring it without passing through the banking system. Otherwise, this would have had red flags all over the place already. The thing there, it’s $1.02 billion, not $160 million,” Salceda added.—AAC (with reports from Vincent Arboleda)
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