Home›Bar Review›2023›Mercantile Law›Question 7
Question 7
7. Jacinto, the Governor of Sorsogon, maintains United States (US) dollar deposits
in various offshore banks at the Cayman Islands, British Virgin Islands, and
Switzerland. In an exposé by Balita Magazine called “Pandora Papers”, the writer
detailed the offshore deposits of Jacinto amounting to US$60 million as well as
his other investments and holding companies. Aggrieved, Jacinto filed a criminal
complaint against Balita Magazine for violation of bank secrecy laws, alleging
that his US dollar bank deposits were illegally disclosed even though they were
neither involved in any civil or criminal case against him nor subjected to any
investigation by the Anti-Money Laundering Council. Will the complaint of
Jacinto prosper? Discuss your answer.
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