Pubdate: Sun, 05 Aug 2001
Source: Philippine Daily Inquirer (Philippines)
Copyright: 2001 Philippine Daily Inquirer
Contact:  http://www.inquirer.net/
Details: http://www.mapinc.org/media/1073
Authors: Christine Herrera and Carlito Pablo

'LACSON HAS BILLIONS IN US'

'The Accounts Exist '

SEN. PANFILO "Ping" Lacson Jr. and deposed President Joseph Estrada
have laundered nearly $1 billion believed to have been amassed since
1996 from drug-trafficking, kidnapping and other criminal activities
into bank accounts in three countries, according to military
intelligence chief Col. Victor Corpus.

Held in both individual and joint accounts in Citibank and the Bank of
America, at least $728,500,293 is stashed in 18 savings, checking and
time deposits in the United States, Hong Kong and Canada, said Corpus,
head of the Intelligence Service of the Armed Forces of the
Philippines (Isafp).

"The accounts exist and are authentic. We were able to confirm their
existence through official and unofficial channels," he said, citing
the findings of a military and police intelligence team sent recently
to San Francisco to investigate the accounts allegedly held by
Estrada, Lacson and the senator's wife, Alice.

Corpus, who signed and submitted the mission's post-operation report
to President Macapagal-Arroyo, planned to give her a final report
yesterday on the results of both the mission and an ongoing military
intelligence probe.

But US authorities have only confirmed the existence of one $24-
million account held by Lacson in a Citibank branch on 2400 19th
Avenue in San Francisco, Corpus said in one of two separate interviews
with the INQUIRER in which he detailed his bombshell
allegations.

"The bulk of the deposits was amassed through drug trafficking since
1992. A few million came from kidnap-for-ransom (activities) and bank
robberies," he said.

"I've got the goods on Lacson," said Corpus, who provided the INQUIRER
with a copy of the report, dated June 28, which bears his signature as
Isafp head.

The Philippine intelligence team reported that the balance of the
deposits stood at more than $500 million each for Lacson and Estrada
as of July 20 this year, Corpus said in one interview.

He said that as of July 1, the total deposits held by Estrada, Lacson
and the latter's wife Alice stood at, "but grew to at least $1 billion
when (information on more accounts surfaced) on July 20. More accounts
are expected to be uncovered. The investigation is
continuing."

The joint team of the Isafp and the Philippine National Police, headed
by team leader AFP Col. Mario Chan, left Manila on June 2 and spent
nearly a month in San Francisco investigating leads on the alleged
accounts, Corpus said.

The joint team developed the leads through a mutual exchange of
intelligence information with the US Customs Service throughout the
whole month of June, according to the report submitted to Corpus.

"What the US authorities wanted to achieve is not only to find the
money (Lacson's bank accounts) but also to go for the freezing,
seizure and eventual forfeiture of Lacson's money in favor of both the
US and the Philippine governments," Chan said in the report.
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MAP posted-by: Richard Lake