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Tuesday, May 16, 2006
Lawmakers urge Estrada to tell all on 'laundering' activity (10:30 a.m.)
MANILA -- Congressmen have asked former President Joseph Estrada to
explain to the public his involvement in an alleged P2.07 billion laundering scheme in the US involving government bonds and commercial paper that victimized former beauty queen Joelle Marie Henson Pelaez.
Antique Representative Exequiel Javier and Davao del Sur Representative Douglas Cagas said a general denial by Estrada and his cohorts of the accusation is not enough since Pelaez has filed a P500 million lawsuit against those who used her name and forged her signatures to launder funds through the government-sequestered United Coconut Planters Bank (UCPB) during the Estrada administration.
Javier, vice chair of the House committee on ways and means, said Estrada might face another plunder case if he cannot give a good explanation regarding
Pelaez'’s expose.
"Erap has a lot of explaining to do. This is yet another illegal financial transaction allegedly involving Erap, using government bonds, securities and
other debt instruments as exposed by the supposed victim herself," said Javier.
Javier also said it would be easy for people to believe Estrada was involved in the case because of the inclusion of his close ally, Jaime Dichavez, who is allegedly with the laundering ring. “Dichavez was the one who claimed ownership of the controversial Jose Velarde account.”
Dichavez was identified by Pelaez as among three Estrada cronies who allegedly connived with officials of San Miguel Corporation (SMC) and UCPB to “use and abuse” her to conduct the illegal money transactions.
Cagas, vice chairman of the House committee on good government, said Pelaez'’s lawyer Dennis Funa has related that it was impossible for a commercial transaction of such magnitude not to have been consummated without the
knowledge of the ‘highest official of the land at that time.” (DBP)
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