CISI ad

Updated as of March 2022

 

 

  

Free Donuts (PHISING)

 

 

 

Related Links

 

          
      
    OFAC 
Upcoming Events

 

JEM - Module-Calendar

<<  February 2023  >>
 Mo  Tu  We  Th  Fr  Sa  Su 
    1  2  3  4  5
  6  7  8  9101112
13141516171819
20212223242526
2728     

JEM - Module-Basic

Recent Posts

News and Announcements

Advisories

 

 

 

Archives

AMLC Resolutions

 

 

In a Joint Decision dated 20 Sept 2022, the RTC Pasig City Branch 167 convicted Sheryl Boratong, widow of Pasig Shabu Tiangge mastermind Amin Imam Boratong (deceased), of money laundering. The court also found an ex-bank branch manager guilty of money laundering for facilitating drug money for the Boratongs.

Sheryl was previously convicted of drug-related activities in connection with the 2006 Shabu Tiangge raid.

The court relied on the prosecution's evidence based on financial investigation and analysis of bank transactions of the proceeds of illegal drug-activities of Sheryl and Amin Imam Boratong.

Godofredo Medenilla, a former branch manager, was found to have advised the Boratongs how to layer illegal drugs proceeds from their bank account to another account belonging to their relative, after a law enforcement raid of the Shabu Tiangge. Under the Anti-Money Laundering Act, facilitating such bank transfers constitutes money laundering. Layering is the process of conducting a series of transactions to hide the criminal origins of funds.

Medenilla is the fifth in the list of bank personnel convicted for money laundering which also includes Maia Santos Deguito and her assistant, Angela Ruth Torres, who both figured heavily in the notorious Bangladesh Bank Heist.

The conviction of both Boratong and Medenilla sends a strong message to illegal drug traffickers and bank personnel alike that the financial system must not be used for criminal purposes.

 

------------

Back to Top