Thursday, March 5, 2020

Gordon wants forex firm probed over alleged Maute group link

From GMA News Online (Mar 5, 2020): Gordon wants forex firm probed over alleged Maute group link (By DONA MAGSINO)

Senate Blue Ribbon committee chairman Richard Gordon said Thursday he wants foreign exchange firm Excellent Forex Corporation to be probed over possible involvement with ISIS-inspired Maute group.

Gordon said the foreign exchange company could be involved in financing the Maute group which laid siege in Marawi City in 2017.

"I have information that they have a branch in Marawi and the reason why it caught my attention is that you know mayroong foreign funding na pumasok doon sa Maute,"
he said during a Senate hearing on potential money laundering activities.

"Maybe I'm just overly zealous and I'm ready to be corrected but I would suggest you find out,"
the senator added.


Based on the records of the Bangko Sentral ng Pilipinas, Excellent Forex Corporation is a registered foreign exchange firm but has no declared branch in Marawi.

A certain Emil Alfonso is affiliated with the said company, according to BSP Deputy Governor Chuchi Fonacier.

"I have him as one of those bringing in and declared $2.5 million. He brought it in, in cash. We'll be chasing after this agency wondering why," Gordon said.

Alfonso and other incorporators of the foreign exchange firm were among those invited to the Senate hearing but did not attend.

https://www.gmanetwork.com/news/news/nation/728475/gordon-wants-forex-firm-probed-over-alleged-maute-group-link/story/

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