AMLC Executive Director Vicente Aquino said there was a strong case against Boratong. "We won’t file a case if we believe that the case is not strong," he told reporters.
When asked how much Boratong’s assets were worth, Aquino simply replied "millions."
Boratong is accused of running a shabu tiangge in Pasig City for three years until it was shut down by the Anti-Illegal Drugs Special Operations Task Force, then under Director Marcelo Ele Jr., early last year.
Police and the National Bureau of Investigation later arrested Boratong and his alleged illegal activities were revealed by his half brother, Samer Palao, who turned state witness.
Boratong allegedly uses several local bank accounts to launder his money.
Under the law, Aquino said, the AMLC may trace bank accounts believed to be used for laundering money from kidnapping-for-ransom, bank robbery, illegal drugs and terrorism even without a court order.
A court order is needed in tracing bank accounts used to launder money from other criminal activities like arson and hijacking.
"So far, the AMLC has successfully frozen some P1.4 billion in funds and assets of different individuals believed involved in illegal activities like kidnappings," Aquino said.
Under the law an individual has to report bank transactions involving over P500,000, Aquino said. The AMLC may also question people who deposit P100,000 daily, especially if he or she does not have the financial means. — Cecille Suerte Felipe