MANILA, Philippines—Gambling lords have found “creative methods” of laundering billions of pesos generated by their illegal operations in the country, a lawyer of a late suspected jueteng operator said Sunday.The methods range from auctioning off paintings in Singapore to moving funds through the underground “Binondo Central Bank,” Ferdinand Topacio said.
He said gambling personalities would use trading companies to buy paintings of promising Filipino artists before putting them up for sale at the renowned Christie’s auction house in Singapore. Full story
