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Elderly Pinoy in US$10 billion bank fraud remains in jail

28 February 2025

 

The elderly Filipino tourist did not apply for bail at Eastern court

A Filipino tourist arrested in Hong Kong for allegedly attempting to encash a US$10 billion bank document was again returned to jail after appearing at Eastern Court yesterday, Feb. 27.

Ramon R. Revillosa, Jr., 68, did not apply for bail so Principal Magistrate Don So ordered him remanded in jail until the next hearing of his case on Mar. 27. But he was told he could apply for bail at the High Court.

Reports from the Philippines say the government had asked Hong Kong authorities to conduct a full examination of Revillosa as he was showing signs of dementia when he made “grandiose claims of wealth.”

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Foreign Affairs Undersecretary Eduardo de Vega said the request was relayed by the Consulate to relevant authorities in Hong Kong.

However, Consulate sources said Revillosa has only been tested for diabetes so far, although they are keeping an eye on his health.

In the interview, De Vega also said that the 38-year-old Filipino woman arrested with Revillosa was allowed to post bail and return to the Philippines. But the woman who claimed to be a lawyer, was told to return to Hong Kong on Mar 12.

PINDUTIN DITO

The two were arrested on Feb 10 after they allegedly presented three documents with a face value of US$10 billion to the Hongkong and Shanghai Banking Corporation branch at China Building in Central to allegedly induce a staff member to believe they were genuine.

Arrested with them were a Malaysian man, a Taiwanese man and a woman who used a Hong Kong and Macau Travel Permit to enter Hong Kong.

They were all reportedly detained after bank staff who examined the documents became suspicious and called the police. But it is not clear whether charges were also filed against the three, or if they were released pending further police inquiries.

Using a false instrument is punishable with up to 14 years’ imprisonment under Sec 73 of the Crimes Ordinance.

Basahin ang detalye!

Revillosa is named as the lone defendant in a case filed with Eastern court.

He is alleged to have presented a bank capability letter, guarantee letter and a certificate of balance, all purporting to have been issued by HSBC, which he “knew, or believed to be, false.”

He presented these so bank staff Tang Wing-sheung would “accept them as genuine, and by reason of so accepting them to do or not do some act to his own, or any other’s prejudice.”

Revillosa’s previous application for bail was rejected by Magistrate Ho, who also denied his plea to access his belongings so he could contact his relatives in the Philippines for bail money.

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