Two Filipinos Detained in Hong Kong for Attempting to Withdraw $10 Billion
HONG KONG – Two Filipinos were detained in Hong Kong after allegedly attempting to withdraw $10 billion.
Hong Kong authorities have apprehended two Filipinos for allegedly attempting to withdraw an astonishing $10 billion from an HSBC branch using forged documents. The incident, which occurred on February 10, has gained widespread attention due to the massive sum involved.
The suspects have been identified as 68-year-old Ramon Revillosa Jr., who claims to be a businessman, and a 38-year-old woman who allegedly posed as a lawyer. Reports indicate they presented falsified documents, including a forged capability letter, a guarantee letter, and a certificate of balance from HSBC, in an effort to access the funds.
During a court hearing on February 20, Principal Magistrate Don So denied bail for Revillosa and rejected his request to retrieve personal belongings, which he claimed were necessary to contact relatives in the Philippines for bail money. Another bail hearing is scheduled for February 27. If convicted, Revillosa could face up to 14 years in prison.
Authorities have also taken three other individuals into custody for suspected involvement in the scheme, including a Malaysian man, a Taiwanese man, and a woman who entered Hong Kong using a Hong Kong and Macau travel permit. Investigations are ongoing to determine their roles in the alleged fraud.
According to the report, the Philippine Consulate General in Hong Kong has confirmed the arrests but has withheld the identities of the two Filipinos while the investigation continues. The consulate is closely monitoring the case and coordinating with local authorities to ensure due process is observed.
This case underscores Hong Kong’s strict stance against financial fraud and the severe legal repercussions for those attempting to exploit the banking system. With the next bail hearing set for February 27, the fate of Revillosa and his alleged accomplices remains uncertain as they await further legal proceedings.
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