PASAY CITY, Philippines — Senator Raffy Tulfo on Wednesday, October 7, pressed an executive from Security Bank regarding the heavy flow of funds through corporate accounts tied to Cale88, highlighting the stark gap between the account’s end balance and the massive total movement of money.
During the impeachment trial proceedings of Vice President Sara Duterte, Tulfo requested clarification from Security Bank Branch Banking Group Head Leslie Cham on figures detailed in a forensic audit report, focusing on total cash inflows and outflows for the year 2024.
Cham cited internal transaction records showing that the account logged ₱40,138,766.28 in incoming transfers and ₱40,001,101.79 in outgoing movements during 2024.
“So halos parehas lang,” Tulfo observed.
Cham further testified that the account logged an additional ₱6,265,915.66 in incoming funds through 2025.
Tulfo subsequently questioned Cham on the bank’s adherence to Know-Your-Customer (KYC) guidelines, asking if bank leadership or branch managers have the authority to bypass standard verification protocols for high-profile clients or substantial deposits.
“Eh paano kung wala yung client at tumawag yung manager niyo, tumawag yung vice president ng bank, papasukin mo na yan? Kami ng bahala?” Tulfo asked.
“We don’t do that,” Cham answered.
“In fact, if there is any ambiguity on that, we always refer it to the compliance office to make the final judgment on that… We are very strict on the KYC in the compliance,” he added.
Proceedings further revealed that two bank accounts held under Cale88 Foods Corporation—a firm owned by Duterte’s husband, Atty. Manases “Mans” Carpio—were officially closed three months prior in July 2026.
The questioning follows earlier testimony from Anti-Money Laundering Council (AMLC) Executive Director Ronel Buenaventura, who disclosed that transactions linked to Cale88 Foods Corporation were flagged as suspicious due to a lack of underlying economic justification, legitimate business purpose, or legal obligation.