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Judge rules Filipino tourist in US$943B bank scam has case to answer

03 November 2019

District Court
A District Court judge ruled that an elderly Filipino tourist has a case to answer at the resumption of his trial on Friday, Nov 1, for presenting a fake deposit slip for US$943 billion at the HSBC main office in Central in April last year. Judge Stanley Chan rejected the defense’s application for the court to clear Brudencio J. Bolaños, 62, on the ground that a psychologist’s report stated he was suffering from “delusional disorder”.


The judge dismissed the psychologist’s claim that Bolaños believed former President Marcos had given him the money and that it was insured in London.
Chan said that the evidence so far presented in court, including the testimony of the HSBC executive who had interviewed Bolaños, indicated that the defendant knew from the beginning the document was fake.
The judge said he had considered HSBC assistant manager Cheung Wan-yuet’s statement that the bank never issued a receipt for US$943 billion supposedly deposited in the defendant’s account by a Marcos foundation on Jul 25, 1983.


The assistant manager also said Bolaños had no account in HSBC.
“I am satisfied the defendant had the intention to make the bank believe the deposit slip was genuine. I reject his application to rule that he has no case to answer,” Chan said.    

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The ruling means the trial of Bolaños for using a false instrument will now proceed. - Vir B. Lumicao
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