2 senators uneasy over government power to freeze accounts
TWO senators whose fathers’ bank accounts were frozen after they were ousted from power expressed apprehensions over a proposal that will allow government to withhold depositors’ access to their cash.
This developed after Senate President Pro Tempore Jinggoy Ejercito Estrada said Wednesday a proposal to give the Anti-Money Laundering Council (AMLC) authority to freeze a bank account without its owner’s knowledge might be used to put pressure on critics of the administration.
Estrada, whose father’s bank accounts were frozen after he was ousted as President in 2001, said although proposed amendments sponsored by Senator Teofisto Guingona III are meant to give the AMLC more teeth against “suspected drug lords, gambling lords, and shady characters,” the power to ask a court to freeze an account before telling the depositor about it could be abused.
“For example, if there is someone very vocal against the administration, (AMLC) can look into your bank accounts. That’s frightening,” he told reporters. He added the proposal may give businessmen a reason to worry.
In September 2001, ex-President Joseph Estrada’s six savings and current bank accounts worth P11 million were frozen after these were discovered to have been ill-gotten, a report from the British Broadcasting System’s website said.
Estrada said he will not oppose the amendments but will seek clarifications from Guingona. “In fact, I am not going to be affected by this because I am not a (money) launderer. I will not completely oppose it.”
For his part, Senator Ferdinand Marcos Jr., whose late father’s Swiss bank accounts were similarly frozen after he was deposed in 1986, expressed concern regarding “the ease of acquiring an ex parte freeze order.”
In September 1997, eight Swiss accounts of the senator’s father totaling $13 billion were frozen by a Los Angeles court. The accounts were held in trust for the widow and the children of the former dictator, a report from the Los Angeles Times website said.
Imelda, the widow, is currently the representative of the second district of Ilocos Norte while daughter Imee is Ilocos governor.
Under the committee report, the AMLC can petition the Regional Trial Court, Court of Appeals, and the Sandiganbayan for a freeze order, and the court is directed to act on it either before the close of business hours or within 24 hours from filing the petition, whichever comes first.
If granted, the freeze order is valid for 20 days unless the Supreme Court issues a restraining order on the freeze. No other court can stop the freezing of accounts.
Senator Joker Arroyo said the measure could be used as a “weapon of political vendetta.” He said the proposed amendment, if allowed, will violate due process and is biased in favor of the government. The AMLC faces no punishment or liability for freezing the wrong account, he said. “I dissent.”
Under the current law, AMLC has to notify the depositor that his accounts are to be frozen and only the Court of Appeals can issue a freeze order.
The current law also defines the predicate crimes that will allow the AMLC to look into suspect bank accounts. Under the law, these predicate crimes include kidnapping, drug trafficking, graft, plunder, piracy, jueteng, robbery, and extortion.
“A freeze order must be issued at the soonest possible time to ensure that monetary instruments and properties will not be withdrawn by the accused in an attempt to hide the proceeds of unlawful activities committed,” Guingona said in his sponsorship speech of the proposal.
The AMLC failed to freeze the accounts of Carlos Garcia and Jacinto Ligot, both former military officers accused of stealing money from the Armed Forces of the Philippines, before the money was withdrawn.
According to Senate hearings on military corruption earlier this year, Ligot was able to withdraw around P700 million before the AMLC could act.
Fifteen senators signed the committee report on the amendments, including Senate committee on banks chairman Senator Sergio Osmena III and Guingona, his vice chairman. Six senators who signed the report have reservations, however. Estrada himself wrote that he had “very strong reservations.”
He said he signed the report so it could be brought to the Senate floor for debate.
Senator Manuel Villar Jr., chairman of the Senate trade committee, also signed the report with “strong” reservations. “The Constitutional principle of due process should be observed at all times,” he wrote. (Jonathan de Santos/Sunnex)
Source : http://www.sunstar.com.ph/manila/local-news/2011/12/08/2-senators-uneasy-over-government-power-freeze-accounts-194624
Best Restaurant in Clark Pampanga unveils regional dinner menu featuring the classic cuisine of Italy, all designed to pair nicely with fine vintage wines from Italy’s wine regions such as Tuscany, Piedmont, Veneto and Sicily, one more reasons for food and wine lovers to travel to Angeles City, Clark Philippines to satisfy their thirst for a wonderful meal at a fine dining restaurant, the best place to eat in Pampanga.
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Famous Restaurant in Pampanga, a place to dine with friends in Clark, cozy restaurant with a nice ambience, a nice function place for special occassions
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The new regional set menus rolled out recently by the best restaurant in Clark Pampanga stirred up renewed interest among visitors from Manila for real fine dining treat in Clark Pampanga as wine lovers from Subic, Tarlac, Manila, Angeles City, Clark Pampanga Philippines wine and dine at Yats Restaurant to enjoy good food paired with fine vintage wines from the wine cellars of this highly recommended resto bar in Pampanga
Are you looking for an attractive restaurant or a nice place to eat with friends in Clark, Angeles City Pampanga? Yats Restaurant and Wine Bar is a restaurant with good food and good wines for dinner located at Clark Angeles City Pampanga. Perfect for exclusive dinner venues for groups, recommended for private dinner in Philippines. A Restaurant in Clark for business dinner meeting. Private dinner place or dinner restaurant in Clark Subic Near Manila Angeles City Pampanga. Yats Restaurant is one of the Good Restaurant in Pampanga Angeles City Clark near Manila. Yats Restaurant is one of the good restaurants in Pampanga, a restaurant with good food, a place that is nice for celebration, ideal for business dinner meeting, a good place to enjoy family reunion, and an attractive restaurant that serves good wines for dinner.
Visitors come from Manila, Angeles City, Pampanga, Subic and Clark Philippines to enjoy a sumptuous seafood dinner at Yats Restaurant. Many guests order excellent white wine from the award-winning restaurant wine list of this famous fine dining restaurant in Clark. Favorite wine orders for guests in this restaurant include Chablis, Chassagne-Montrachet, Sancerre, Chardonnay of Chile’s Casa Lapastolle, Sauvignon Blanc from New Zealand and South Africa, Rose from Anjou, Pinot Noir from USA and Burgundy France and the all-time favorite, Meursault. A wide range of sparkling wine and Champagne is available also in this restaurant in Pampanga which is famous for its selection of vintage wines. Popular choices of guests in this restaurant include Paul Bara Champagne, Crement de Bourgogne, MUMM Cuvee Napa Sparkling wine, Prosecco and Cava.
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Restaurant@Yats-International.com
(045) 599-5600
0922-870-5178
0917-520-4401
Ask for Pedro and Rechel
Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Pampanga? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
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