Latest: Corruption and Money Laundering.

Zubiri scores AMLC for failure to detect Espinosa's P500-M drug money flow.

News5 screen grab of Kerwin Espinosa, alleged Eastern Visayas drug lord.

MANILA – Senator Juan Miguel “Migz” Zubiri on Thursday scored the Anti-Money Laundering Council (AMLC) for failing to detect the financial infrastructure of known drug lords and financiers, particularly Rolando “Kerwin” Espinosa Jr. despite being mandated by law.

In a statement, Zubiri said that AMLC should religiously monitor all money transactions beyond P500, 000, noting reports that suspected drug lord Espinosa Jr., son of Albuera (Leyte) Mayor Rolando Espinosa, had issued checks amounting to P500 million from 2014 to 2016.

“Espinosa was supposedly able to pay out more than P500 million worth of checks from eight bank accounts between 2014 amd June 2016, with the bulk of the money apparently going to his alleged “protectors” in the criminal justice system, according to the Philippine National Police (PNP),” Zubiri said.

Zubiri said that AMLC should attack the financial infrastructure of drug trafficking syndicates to suppress their supply and distribution operations.

“We are counting on the AMLC in particular to quickly spot and seize suspected drug money flowing through our banks, and to forcefully prosecute cases of money laundering by traffickers,” Zubiri said.

Zubiri said that he was stumped by the unobstructed flow of money from Espinosa in the amounts of up to P20 million per check, without the AMLC acting on suspicious transaction reports - something that should have been diligently filed by the banks involved.

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