According to the Anti-Money Laundering Council (AMLC) report to the Court of Appeals, Makati City Mayor Erwin “Junjun” Binay has deposits in various banks that do not correspond to his statement of assets, liabilities and net worth (SALN).
The report said that the mayor took out a P25-million load on Dec. 28, 2011, from BDO Unibank Inc., which he renewed monthly 25 times.
“Said loan availment was renewed/repriced on a monthly basis from Jan. 27, 2012, to June 24, 2013. However, there is no evidence of payment,” the AMLC report said.
The net proceeds of his loan reaching P24, 877. 054.79* were credited to his account on Dec. 28, 2011.
Added also in the report, five withdrawals were made following the day totaling P24 million.
Meanwhile, aside from the first the report highlighted that Binay had two other loans amounting to P25, 990, 000-P25 million on Oct. 16, 2014 and P990, 000 on Jan. 8, 2015.
When asked by Inquirer, BDO bank president Nestor Tan declined to comment on the matter involving the Makati mayor.
However, a bank expert asked by the Inquirer explained that payments were not reflected because the loans were “secured deposits.”
H/T: Inquirer.net; and photo.
