(REVISED) The Cebu City Regional Trial Court on Friday, August 11, asked three financial institutions to comment on the forfeiture case filed by the Anti-Money Laundering Council (AMLC) on the assets of self-confessed drug lord Franz Sabalones.
Court personnel, assisted by Philippine Drug Enforcement Agency (PDEA)-Central Visayas agents, served copies of the court order on BDO Unibank, Wealth Development Bank Corporation (Wealthbank) and First Standard Finance Corporation.
Sabalones, the financial institutions and other respondents were given 15 days to file their comments or objections.
Other respondents were Luna Sabalones, Land Registration Authority, Register of Deeds of Cebu province and Cebu City, and Municipal Assessor of San Fernando, Cebu.
The AMLC, in a petition filed Thursday, August 10, is seeking to forfeit in favor of the government about P350 million worth of Sabalones' assets, which were allegedly proceeds from illegal drug activities.
The council also asked the court to issue a Provisional Asset Preservation Order (Papo), which will freeze Sabalones' three bank accounts and eight properties.
Under a Papo, respondents cannot move funds nor dispose of properties.
In a press conference, PDEA Regional Director Yogi Ruiz said Sabalones has not moved any assets since a freeze order was issued in March this year.
"It's intact. This will only show nga hopefully makita sa uban nga gusto pa musuway og negosyo nga dealing in drugs does not pay," Ruiz said. (OPM/With JOB/VoxPop Philippines)