Last Tuesday, Margarito Teves, president of the Land Bank of the Philippines, said an internal audit of their branches had uncovered more tax diversion scams, amounting to some P228 million, involving its Binangonan, Rizal branch.
Teves said the funds represent the tax payments of seven large companies whose checks, payable to the Bureau of Internal Revenue (BIR), were diverted into the accounts used by Roberto Lucero, Alam Clemente, Jose Francisco and Joven Aquino.
Officials stressed, however, that the companies were not involved in the scam because they had records to prove that the companies paid their taxes.
In July, a tax diversion scam also involving the LandBank Rizal branch that siphoned some P203 million was discovered by the BIR.
"We might have a better chance of going after the culprits if we talk to the taxpayers. Perhaps the taxpayers can give us more detailed records of payments and dates," an NBI source said, speaking on condition of anonymity.
Some of the payments of these firms were not reflected in LandBank records, indicating they were probably diverted, the source said.
These firms were identified as Dow Chemicals Philippines, GMA Network Inc., Honda Philippines Inc., Lorenzo Shipping Corp., Matsushita Philippines Inc., Nissan Motor Philippines Inc., Pilipinas Makro, Pru-merica Life, and Sumisetsu Construction.
NBI Director Reynaldo Wycoco said the P228 million could have been diverted to the same personal bank accounts linked to the tax diversion scam discovered in July. The accounts now contain a depleted total of P9 million.
One of the suspects, identified as Ronilo Yu, of Estancia, Iloilo, reportedly fled to the United States with his family on Aug. 9 after learning that authorities were on to him, Wycoco said.
"Once arrest warrants are issued against them, we’ll immediately file for extradition. But the long arm of the law will catch up with him," he said.
Yu is vice president for finance and administration of Lorenzo Shipping Corp.
On Monday, the NBI filed charges of 18 counts of syndicated estafa against Yu and businessman Teodorico Rivera, of Marilao, Bulacan; Resty Rivera, of Parañaque City, a certain Joven Aquino, of Cardona, Rizal; and two still unidentified persons.
According to the NBI, Yu, Rivera, his niece Resty and two others allegedly connived to divert the tax payments of Lorenzo Shipping Corp. to the account of Aquino at the LandBank’s Binangonan branch.
In order to make it appear that the company actually paid its taxes, fake LandBank receipts, tax returns and other fake documents were submitted to the accounting department of Lorenzo Shipping Corp.
The NBI said the scheme was devised by Yu and involved diverting tax payments to the dummy account between February and June 2002.
Teves earlier said the incident appeared to have been isolated from the Binangonan branch case but the LandBank internal audit, which has covered 27 branches, is still ongoing.
He explained that the diversion was done by switching the check paid by the taxpayer and crediting the exact same amount to the fictitious account.
"We have not determined exactly where the switching happens, but as far as we can tell, it could happen either within the bank, in the clearing house or even at the BIR," Teves said.
Meanwhile, industrialist Raul Concepcion urged the Bankers Association of the Philippines to come up with safeguards to ensure the integrity of tax payments.
He also called on the Monetary Board of the Bangko Sentral ng Pilipinas and other government financial regulators to address the issue.
He warned that the tax scandal might erode the confidence of the business community.