An official of the Anti-Money Laundering Council (AMLC) testified before the Senate impeachment tribunal that Cale88 Foods Corporation, a commercial entity partly owned by the husband of Vice President Sara Z. Duterte, could be a candidate for money laundering, though full financial background factors must be evaluated.
AMLC Secretariat Executive Director Ronel Buenaventura made the statement during cross-examination by Senate President Sherwin Gatchalian on his second day of testimony as a prosecution witness in the ongoing trial.
Gatchalian raised questions over corporate ledgers showing Cale88 registered a paid-up capital of only P125,000, yet recorded total financial inflows of P776.6 million and outflows of P154.6 million between 2022 and 2025.
The transaction records form part of a financial summary submitted by the AMLC to the impeachment court covering 15 corporate entities allegedly linked to the Vice President and her spouse, attorney Manases Carpio.
”Ang sales nila since 2021 was only P23 million, assets nila P18 million, and liabilities ay P20 million,” Gatchalian said.
The Senate President noted that banking institutions flagged inward foreign remittances to the firm as suspicious because the transactions lacked clear trade obligations or economic justification, and involved amounts disproportionate to the client’s financial capacity.
”Kasi kung hindi mahanap sa libro yung P776 million, candidate ba itong Cale88 for money laundering? In your expert opinion, at experience mo, dapat ma-reflect yan sa books di ba?” Gatchalian asked.
”As a starting point po, it’s difficult to say. As starting point, maaari po, but we have to consider all other factors,” Buenaventura said.
When pressed again by Gatchalian if the firm could be considered a candidate for money laundering, Buenaventura maintained his assessment.
”Kung candidate lang po, yes, but we have to consider all other factors,” he also said.
Gatchalian inquired about standard financial intelligence protocols when a entity is identified as a candidate for money laundering investigation.
” In general lang po, we have to determine kung ano po yung unlawful activity na maaaring pinanggalingan ng pera, or naging transaction dun sa pera,” Buenaventura said, noting that predicate offenses under the law include graft, drug trafficking, and kidnapping.
”The proceeds must come from illegal activity,” he also said.
Gatchalian pointed out that financial records show Cale88 received P319.33 million in inward remittances from entities in mainland China and Hong Kong, representing nearly half of its overall reported inflows.
”Dito niyo na titingnan kung saan nanggaling yung pera. Dito niyo na rin titingnan, kasi kalahati ng sales nila, galing ng China whether yung entity sa China is legitimate or not,” Gatchalian said.
”In general, yes po, it will be looked at, all other factors po,” Buenaventura said.
Earlier in his testimony, Buenaventura confirmed that P315.94 million of the foreign remittances originated from mainland China while P3.39 million came from Hong Kong, with three specific cross-border transactions flagged as suspicious by reporting banks.
Gatchalian further questioned whether receiving P776 million against a capitalization of P125,000 fits the red flag criteria of funds not being commensurate with a client’s business capacity.
”I have to check po the nature of the business. If based on this juridical person, we have to conduct further investigation, if needed po,” Buenaventura said.