Pampanga RTC convicts Chinese national of money laundering

MANILA, Philippines — The Regional Trial Court Branch 56 of Angeles City has found drug laboratory operator Xinli Chen guilty of 35 counts of money laundering, the Anti-Money Laundering Council (AMLC) said yesterday.

Chen was convicted for violating Section 4(a) of Republic Act 9160, or the Anti-Money Laundering Act of 2001, and sentenced to seven to 14 years of imprisonment for each count and fined P3 million per offense.

Chen was arrested on Sept. 7, 2016 during a raid by the Philippine Drug Enforcement Agency and the Pampanga Provincial Police Office on a hidden drug laboratory within a piggery in Pampanga.

A follow-up financial investigation by the AMLC revealed Chen’s money laundering activities, including the use of multiple bank accounts to hide illegal profits from drug operations.

AMLC executive director Matthew David said the conviction is a significant achievement in the government’s ongoing battle against money laundering linked to illegal drug activities.

“The AMLC remains committed to upholding the rule of law and protecting the integrity of our financial system. This case serves as a stark reminder that those who engage in laundering the proceeds of crime will face the full force of the law,” David said.

The Financial Action Task Force retained the Philippines on its gray list for the third straight year as the country has yet to adequately address concerns over deficiencies in the country’s measures against money laundering and terrorism financing.