Politics · Philippines Bureau
Duterte trial hears allegations of money laundering through food corporation
A forensic financial analyst testified Monday that Cale 88 Food Corp. exhibited characteristics consistent with money laundering, with the company's financial operations described as a "revolving door." The allegation surfaced during testimony that Vice President Sara Duterte's spouse held a significant ownership stake in the firm.
LSN Philippines ·
MANILA — Forensic financial analyst Atty. Alexander Cabrera told the court Monday that the financial operations of Cale 88 Food Corp. bore hallmarks of money laundering through what he characterized as a "revolving door" system of transactions.
Cabrera's assessment came as evidence in ongoing proceedings related to Vice President Sara Duterte. According to testimony presented, Atty. Manases Carpio, identified as Duterte's spouse, held a 47.5% ownership stake in the company as an incorporator and shareholder beginning in 2021.
The characterization of the company's financial activities as indicative of money laundering represents a significant development in the case, with the analyst's assessment focusing on the pattern and structure of fund flows through the corporation. The testimony underscores scrutiny of financial linkages connected to high-ranking government officials and their family members.
The proceedings continue as investigators and prosecutors examine the company's transactional records and business operations to determine the source and destination of funds moving through the entity.