Lacson accused of laundering billions

The Philippines military intelligence chief has accused controversial opposition Senator Panfilo Lacson and his benefactor, deposed president Joseph Estrada of laundering close to a billion dollars from illegal operations to bank accounts in three countries.

According to Intelligence Service, Armed Forces of the Philippines (Isafp) chief Col. Victor Corpuz, the two opposition leaders, once considered as the country's most powerful individuals until January 2001 when the Estrada government was toppled by an uprising, maintain both separate and joint accounts in Citibank and the Bank of America.

The Isafp chief in an interview published by the Philippine Daily Inquirer said that at least $728 million hidden in 18 savings, checking and time deposits are being maintained by the duo in the U.S., Hong Kong and Canada. The amount, the report said, were amassed since 1996 from drug trafficking, kidnap for ransom and other criminal activities.

Lacson was chief of the Philippine National Police (PNP) for two years until the ouster of Estrada. Both men headed two powerful "anti-organised crime" task forces under the presidency of Fidel Ramos until 1996 and under the past government. In the wake of Estrada's ouster, Lacson ran for a senatorial post last May and won. "I've got the goods on Lacson," Corpus was quoted by the Inquirer.

"The accounts exist and are authentic. We were able to confirm their existence through official and unofficial channels," he said. Corpus said a team composed of military and police officials sent to San Francisco to investigate the stash, confirmed the existence of the supposed ill-gotten gains which were hidden in several bank accounts named to Estrada, Lacson and his wife, Alice.

The report said U.S. authorities have only confirmed the existence of $24-million account held by Lacson in a Citibank branch in San Francisco. "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.

Following Corpuz's investigation, Lacson's colleagues in the Senate is poised to open an inquiry into the allegations. At least two resolutions were filed separately last week by ruling coalition Senators Robert Barbers and Ramon Revilla, both seeking investigations into the reports linking the former president and PNP chief into criminal activities.

"We will look into them since there are serious allegations against Lacson, including numbered bank accounts," Senate President Franklin Drilon said. Lacson is set to deliver a privilege speech today at the Senate to answer the charges. Revilla was also quoted in the report as saying the inquiry should give Lacson, who belongs to the opposition, a chance "to clear his name."