Thursday, June 19, 2025
name of Prensa Latina
Bandera inglesa
English Edition
Search
Close this search box.
name of Prensa Latina

NEWS

NEWS

Philippines investigates fund for anomalous land acquisition

Manila, May 20 (Prensa Latina) The investigation to determine those involved in an alleged anomalous land acquisition transaction worth more than $250 million continues in the Philippines.

Presidential Communications Office Undersecretary Claire Castro warned that action will be taken against any official implicated in the case.

The acquired land was intended for the construction of housing for overseas Filipino workers, but it did not undergo scrutiny by the Overseas Workers Welfare Administration’s board of directors.

The agency’s deputy director, Emma Sinclair, is implicated in the controversy along with the administrator, Arnell Ignacio, who was dismissed.

Both are accused of manipulating property records at the Bureau of Internal Revenue and the Registry of Deeds to make it appear as a Capital Gains Tax transaction and reduce tax liability.

abo/arm/mem/asg/li

LATEST NEWS
RELATED