Vice President Sara Duterte may have unexplained wealth based on the report of the Anti-Money Laundering Council (AMLC), according to House Committee on Good Government and Public Accountability Chair and Manila Rep. Joel Chua.

Chua, a lawyer and member of the House Committee on Justice, explained that the AMLC report showed over P6.7 billion flagged by banks as “covered and suspicious transactions” of the Vice President and her husband, Atty. Manases Carpio, from 2006 to 2025.

Despite the large amount of bank transactions discovered, the second highest official in the country allegedly declared no “cash on hand and in bank” in her statements of assets, liabilities and net worth (SALN) from 2019 to 2024.

“Nothing was declared (as cash on hand and in bank)… Then this report comes out showing money coming in and going out. That means ill-gotten wealth is wealth that cannot be explained,” Chua emphasized in a radio interview.

Chua further noted that based on the AMLC report, Duterte and her husband had a bank balance of P2.87 billion after an “outflow” of P1.554 billion.

“The total reported here is incoming of P6.771 billion. But this includes inflow and outflow. This is the total of inflow and outflow. What does that mean? The inflow is what came in. The outflow is what went out, P4.425 billion. And the outflow is P1.554 billion… So there is a balance of P2.87 billion showing,” Chua said.

The Manila congressman added that many members of the House Committee on Justice were shocked by the AMLC report.

“We were surprised because first of all… the first thing we asked the Ombudsman about the SALN, and they said from 2019 to 2024, the Vice President declared no cash – cash on hand and cash in the bank – in her SALN. So six consecutive years,” Chua said.

“So we were shocked when the AMLC mentioned billions. So many zeros. We were dizzy. So that’s it. That’s truly shocking,” he added.

It will be recalled that Duterte is accused of unexplained wealth and failure to declare certain assets in her SALN in two impeachment complaints pending before the Justice committee.

Chua also said that to verify the truth of the allegations against the Vice President, they are considering reports from other government agencies, such as the Office of the Ombudsman, AMLC and Securities and Exchange Commission (SEC).

“We have already released many, including from the SEC. We will cross-reference them. First, the SALN, then the AMLC and the SEC, where the SEC says almost all of their businesses are losing money. Mostly declared losses. And if there is any income, it is very small and does not match what appears in the AMLC report,” Chua said.

Two women standing side by side; left: woman with glasses in a white shirt, right: woman in a pink traditional blouse speaking into a microphone.
Four adults posing for a photo outside a green-and-white building, wearing badges and lanyards.

Anti-Money Laundering Council (AMLC)

The Anti-Money Laundering Council (AMLC) is the financial intelligence unit of the Philippines, established in 2001 under Republic Act No. 9160, also known as the Anti-Money Laundering Act. Its primary role is to investigate and prevent money laundering, terrorist financing, and other financial crimes by monitoring suspicious transactions and coordinating with domestic and international agencies. Over time, the AMLC has strengthened its mandate through amendments to the law, enhancing its ability to combat illicit financial flows and promote transparency in the country’s financial system.

House Committee on Good Government and Public Accountability

The House Committee on Good Government and Public Accountability is a standing committee of the Philippine House of Representatives, primarily tasked with investigating government corruption and ensuring transparency in public office. Historically, it has been a key venue for high-profile inquiries into alleged misuse of public funds and other misconduct by government officials. The committee plays a crucial role in upholding accountability and the rule of law within the Philippine government.

House Committee on Justice

The House Committee on Justice is a standing committee of the United States House of Representatives responsible for overseeing the federal judiciary, civil liberties, and constitutional matters. Established in 1813, it has historically played a key role in drafting major legislation, including civil rights laws and impeachment proceedings. Its jurisdiction covers topics such as immigration, criminal justice reform, and antitrust enforcement.

Office of the Ombudsman

The Office of the Ombudsman is an independent government agency that investigates complaints against public officials and government agencies. Originating in Sweden in the early 19th century, the concept has since been adopted worldwide to ensure transparency, fairness, and accountability in public administration. In many countries, the office serves as a key check on bureaucratic power, protecting citizens’ rights through impartial oversight.

Securities and Exchange Commission (SEC)

The U.S. Securities and Exchange Commission (SEC) is a federal regulatory agency created in 1934 in the aftermath of the Great Depression to enforce securities laws and protect investors. It was established by the Securities Exchange Act of 1934, following the stock market crash of 1929, to restore public confidence in financial markets. Today, the SEC oversees stock exchanges, brokers, and public companies to ensure fair and transparent market practices.