Philippine News
AMLC: Junjun Binay’s SALN inconsistent with bank records
MANILA — The Anti-Money Laundering Council (AMLC) reported that Makati City Mayor Jejomar Erwin “Junjun” Binay’s bank deposits are not consistent with the income he declared in his statement of assets, liabilities and net worth (SALN).
According to AMLC, Binay made a P25-million loan on Dec. 28, 2011 from BDO Unibank Inc.
“Said loan availment was renewed/repriced on a monthly basis from Jan. 27, 2012, to June 24, 2013. However, there is no evidence of payment,” the AMLC report said as quoted in a report for the Philippine Daily Inquirer.
The day after he made the loan, Binay had five withdrawals amounting to P24 million.
In the same report, AMLC said that Binay only declared minimal income in his declared business interest in his SALN.
“Hence his bank deposits are not commensurate to his income, and represent funds derived from illicit and/or undeclared activities,” the AMLC said.
In a table prepared by the same council, Binay’s SALN showed an increased net worth by P2,674,653.46 million while his declared salary was only P781,654.78 for the same year.
The AMLC was also able to record an increase in his cash and net worth of P9,279,829.00 and P7,544,872 respectively.