COMELEC Commissioner Andres Bautista summoned. Senator Grace Poe’s motion to invite Bautista approved. Explain the bank accounts in Luzon Development Bank.

COMELEC chief in trouble.



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The Chairman of the Commission on Elections (Comelec) Commissioner Andres Bautista, is facing charges of suspected money laundering. The next hearing of the Senate will be the occasion.
The Senate which will be questioning the COMELEC Chairman has summoned Bautista for giving him a chance to clear himself. The main focus of the interrogation will be on the questionable bank accounts that he has in the Luzon Development Bank (LDB).
According to sources, millions of Pesos are stashed away by Bautista. The motion to invite Bautista to appear before the Senate was introduced by Senator Grace Poe. Subsequently, Senator Francis Escudero, chairman of the Senate committee on banks approved the motion.
Therefore, the summons were sent to Commission on Elections (Comelec) Commissioner Andres Bautista to appear before the Senate at its next hearing.
Senator Grace Poe had accused Bautista of money laundering but he had claimed that the money was legitimately earned, she said. It was clarified that the hearing was scheduled for Wednesday.
Moreover, only representatives of the Bangko Sentral ng Pilipinas (BSP), Luzon Development Bank (LDB), and Anti-Money Laundering Council (AMLC) will be attending the hearing.
It was stated that stated that the investigators will look into:
• Contravention of Anti-money laundering laws by the Luzon Development Bank (LDB) in permitting Bautista to operate multiple accounts, and
• Explanation by Bautista about millions kept in those bank accounts to prove their legitimacy.

While the above are the primary reasons, the hearing is also likely to submit a waiver to the bank so that the hearings can proceed unhindered without legal hassles.
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Umrao Singh
Written for: Lars-Magnus Carlsson.
Wednesday, August 23, 2017