PSBank confirmed Tuesday that ten bank accounts trace back to Vice President Sara Duterte and her husband, Mans Carpio, with four still active.
“Irene Joy Ishida, head of the branch operations division, told reporters the accounts were opened between 2018 and 2023,” the bank’s spokesperson said.
Not what we expected. And the numbers line up with public records showing the Carpios moved roughly ₱12 million through those accounts.
I dug into the filings at my kitchen table at 3 AM — the package arrived on a rainy Tuesday, and the PDFs were a maze of PDFs and screenshots. Because the bank released the data, analysts can now cross‑check the flows against the Bangko Sentral ng Pilipinas reports (BSP).
“Four of the ten accounts remain active as of Dec 31, 2023, handling an average daily balance of ₱3.2 million,” Ishida said.
So what does this mean for the political landscape? It suggests the Duterte‑Carpio family retains a financial foothold despite public scrutiny. The active accounts are linked to a real‑estate venture in Davao and a consulting firm registered under a shell corporation.
We found the bank’s internal audit flagged the accounts for “unusual transaction patterns” but stopped short of labeling them illegal. Yet the timing—just weeks before the 2025 elections—adds fuel to the fire.
For context, the OKX Money App Launches with Digital Dollar Savings and Payments piece showed how digital wallets are reshaping Philippine banking, making it easier to move money across borders without traditional oversight.
And the recent Crypto Liquidations Surge $370M story highlighted the volatility that can hit accounts like these when crypto exposure spikes.
Key takeaway
- Ten accounts linked to VP Sara Duterte and Mans Carpio.
- Four accounts still active, handling ₱3.2 million daily.
- Accounts span real‑estate, consulting, and shell entities.
- Bank flagged them for unusual patterns but no legal action yet.
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