CA freezes drug convict's bank accounts

Ina Reformina, ABS-CBN News

Posted at Jan 26 2017 06:43 PM

MANILA - The Court of Appeals (CA) has issued a freeze order on the bank accounts of Chinese drug convict Peter Co, an inmate serving jail time at the New Bilibid Prison (PNP).

In a 48-page order, dated January 20, 2017, the appellate court's Fifth Division issued the freeze order, granting the plea of petitioner Anti-Money Laundering Council (AMLC) against several personalities led by Co, whose real name is Wu Tuan Yuan.

According to a summary provided by the AMLC, Co's bank transactions, including deposits and withdrawals from January 7, 2009 to January 8, 2015, is in the cumulative amount of P 199,035,675.

"This court resolves to grant the ex-parte petition for the issuance of freeze order filed by [AMLC]. Accordingly, the freeze order prayed for is hereby issued addressed to the pertinent banks, insurance companies and financing company, effective for a period of six months ," the order read.

In its petition, the AMLC alleged that "[p]robable cause exists that the subject bank accounts are related to an unlawful activity,"
involving illegal drugs and "[u]nless frozen, the funds in the subject accounts will certainly be withdrawn, transferred and disposed of, thereby placing them beyond the reach of law enforcers."

The CA agreed with the AMLC's position.

"In this court's fair and objective estimation, [AMLC] has shown, to the degree required by the Anti-Money Laundering Act, the existence of probable cause that the aforesaid bank accounts and their related accounts are related to violations of Republic Act No. 9165, also known as the Comprehensive Dangerous Drugs Act, an unlawful activity under Republic Act No. 9160 (Anti-Money Laundering Act), as amended, and that the subject persons are involved in money laundering activities under the latter statute," the CA order read.

Also covered by the freeze order are several other bank accounts in the name of Liu Yu, who shares three bank accounts (BDO) with Co; Su Yi Yang; Liu X. Yu; Chua Ronnie; Concepcion M. Chua; Ronnie C. Chua; Carmen Sy Cu; Villanueva Karenne Tan; Villanueva Karene Tan; Cu Carmen Sy; Al Brian C. Tan; Carmen S. Cu; Al Bryan Tan; Henry Reyes Villanueva; Al Brian Cu Tan; Cu Carmen S.; Cu Oscar S.; Khu Rafael R.; Carmen Sy Cu.; Yang Jiangbo; Jiangbo Yang; Jiangbo Wu yang; Jiangbo X. Yang; Nazi Wu Jiangbo Yang; Nazi Wu; Tengda Zhang Jiangbo Yang; Sy Arthur O.; Arthur Ong Sy; Tencent Importing & Exporting Corp; Yiyan Su; Su Yiyan; Rogelyn Ann Trading; Rogelyn Ann Floro Zhuang; Blue Oceanic Textile Marketing Inc; Roger Tan Teodosio; Ferdinand Pariña Cajipe; Patricia Vargas Lopez; Lovely C. Aguilar; Roymana Alos Lamiseria; and Jojo Rondal Baligad.

The order was signed by Associate Justices Stephen Cruz, Jose Reyes, Jr., and Ramon Paul Hernando.