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Duterte Aides' Cash Withdrawals Under Senate Scrutiny

Bloomberg Markets •
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Former bank managers testified before the Philippine Senate impeachment court regarding "unusual" cash withdrawals made by aides of Vice President Sara Duterte in 2022 and 2023. The accusations center on alleged misuse of funds, with the Senate beginning its inquiry on Wednesday.

The testimonies suggest that significant sums of money were withdrawn in cash, prompting concerns from bank officials. These withdrawals are now a focal point of the impeachment proceedings, as senators seek to understand the nature and purpose of these transactions.

The Senate's investigation aims to clarify the circumstances surrounding these large cash movements and their connection to the Vice President's office. Further details are expected to emerge as the hearings progress.