Wednesday 23 January
May 28, 2018 @ 18:46

Woman convicted for 55 counts of money laundering

 

Her dirty tricks have been revealed.

Liaison officer Annabella C. Ylagan was found guilty of 55 counts of money laundering by a regional trial court in Quezon City, the Anti-Money Laundering Council (AMLC) revealed.

In a statement, the AMLC said Ylagan was sentenced seven years imprisonment for each count, which stemmed after her ploy to steal P12 million from her employer, a chemical trader and distributor, was discovered.

Ylagan transferred funds from her employer’s accounts to a fake bank account which she opened under the alias “Lourdes R. Liu.” According to AMLC, she forged letters from her employer to authorize fund transfers from the company’s bank accounts and into the fake account she created.

She got P12 million over a four-year period.

Executive Director Mel Georgie Racela of the AMLC Secretariat said this was a “sterling accomplishment” for state investigators, with more convictions to come.

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